Frazier Life Sciences Management L.P. Buys New Position in Palvella Therapeutics (NASDAQ:PVLA)

Frazier Life Sciences Management L.P. bought a new stake in Palvella Therapeutics (NASDAQ:PVLA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 653,892 shares of the company's stock, valued at approximately $7,847,000. Frazier Life Sciences Management L.P. owned about 5.83% of Palvella Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PVLA. Citadel Advisors LLC purchased a new position in shares of Palvella Therapeutics during the fourth quarter worth $125,000. Toronto Dominion Bank purchased a new stake in shares of Palvella Therapeutics in the 4th quarter valued at $159,000. Geode Capital Management LLC acquired a new position in Palvella Therapeutics during the 4th quarter worth about $171,000. Cresset Asset Management LLC purchased a new position in Palvella Therapeutics during the 4th quarter valued at about $251,000. Finally, Renaissance Technologies LLC purchased a new position in Palvella Therapeutics during the 4th quarter valued at about $256,000. Hedge funds and other institutional investors own 40.11% of the company's stock.

Palvella Therapeutics Stock Up 7.3%

Shares of NASDAQ:PVLA traded up $1.61 during trading hours on Monday, reaching $23.72. The stock had a trading volume of 138,230 shares, compared to its average volume of 68,642. Palvella Therapeutics has a 1 year low of $6.20 and a 1 year high of $29.27. The business's 50 day moving average is $24.12. The stock has a market cap of $262.25 million, a PE ratio of -1.96 and a beta of 0.10.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported ($0.74) EPS for the quarter, topping analysts' consensus estimates of ($3.40) by $2.66. Equities research analysts anticipate that Palvella Therapeutics will post -3.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on PVLA shares. TD Cowen initiated coverage on shares of Palvella Therapeutics in a research report on Wednesday, February 5th. They set a "buy" rating and a $44.00 price target on the stock. Stifel Nicolaus started coverage on shares of Palvella Therapeutics in a report on Wednesday, March 26th. They set a "buy" rating and a $45.00 target price on the stock. Jones Trading started coverage on shares of Palvella Therapeutics in a research report on Tuesday, March 25th. They issued a "buy" rating and a $45.00 price target for the company. Canaccord Genuity Group cut their price objective on Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Finally, HC Wainwright reiterated a "buy" rating and issued a $38.00 target price on shares of Palvella Therapeutics in a report on Wednesday, April 30th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Palvella Therapeutics has an average rating of "Buy" and a consensus price target of $46.29.

Insiders Place Their Bets

In other Palvella Therapeutics news, Director George M. Jenkins bought 2,500 shares of the business's stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average price of $20.13 per share, with a total value of $50,325.00. Following the transaction, the director now owns 183,171 shares of the company's stock, valued at approximately $3,687,232.23. The trade was a 1.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 20.50% of the stock is owned by company insiders.

Palvella Therapeutics Profile

Palvella Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases. Palvella Therapeutics Inc, formerly known as Pieris Pharmaceuticals Inc, is based in WAYNE, Pa.