Legal & General Group Plc Purchases Shares of 7,994 Palvella Therapeutics, Inc. $PVLA

Key Points

• Legal & General Group Plc initiated a position in Palvella Therapeutics during the second quarter, purchasing 7,994 shares valued at approximately $1.22 million. Institutional investors collectively own 40.11% of the company.
• Palvella shares opened at $157.24, near their 52-week high of $161.38, but the company reported a quarterly loss of $1.52 per share, missing analyst expectations of a $1.17 loss.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and a $209.14 price target, although insiders sold 8,917 shares worth approximately $1.18 million over the past three months.

Legal & General Group Plc purchased a new position in Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,994 shares of the company's stock, valued at approximately $1,222,000. Legal & General Group Plc owned approximately 0.06% of Palvella Therapeutics as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. KBC Group NV purchased a new position in Palvella Therapeutics in the first quarter valued at $28,000. Group One Trading LLC grew its stake in Palvella Therapeutics by 151.5% during the 4th quarter. Group One Trading LLC now owns 332 shares of the company's stock worth $35,000 after purchasing an additional 200 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Palvella Therapeutics during the 2nd quarter worth about $35,000. Russell Investments Group Ltd. acquired a new stake in Palvella Therapeutics in the 3rd quarter valued at about $36,000. Finally, Quantbot Technologies LP purchased a new position in shares of Palvella Therapeutics in the 2nd quarter valued at about $71,000. Hedge funds and other institutional investors own 40.11% of the company's stock.

Palvella Therapeutics Stock Performance

Palvella Therapeutics stock opened at $157.24 on Monday. The stock has a market cap of $2.27 billion, a PE ratio of -32.55 and a beta of -0.25. The stock has a 50-day moving average price of $148.35 and a 200 day moving average price of $129.80. Palvella Therapeutics, Inc. has a 52 week low of $52.36 and a 52 week high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.35). On average, equities analysts predict that Palvella Therapeutics, Inc. will post -6.36 EPS for the current year.

Insider Activity at Palvella Therapeutics

In related news, Director Christopher P. Kiritsy sold 313 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $157.00, for a total transaction of $49,141.00. Following the sale, the director owned 250 shares in the company, valued at approximately $39,250. This trade represents a 55.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kathleen Goin sold 4,302 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $152.21, for a total transaction of $654,807.42. Following the sale, the chief operating officer owned 2,154 shares in the company, valued at approximately $327,860.34. This trade represents a 66.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,917 shares of company stock worth $1,180,309 in the last three months. Insiders own 17.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on PVLA. Truist Financial set a $207.00 price objective on shares of Palvella Therapeutics in a research report on Wednesday, August 5th. Canaccord Genuity Group set a $232.00 price objective on shares of Palvella Therapeutics in a research note on Wednesday, August 5th. HC Wainwright restated a "buy" rating and issued a $270.00 price objective on shares of Palvella Therapeutics in a research report on Wednesday, July 22nd. Chardan Capital upgraded shares of Palvella Therapeutics to a "strong-buy" rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Palvella Therapeutics in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Palvella Therapeutics presently has an average rating of "Buy" and an average target price of $209.14.

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc NASDAQ: PVLA is a clinical‐stage biopharmaceutical company devoted to the discovery and development of innovative therapies for immunological and inflammatory diseases. The company employs a proprietary small‐molecule and biologics platform to identify and modulate key molecular pathways that drive neutrophil‐ and complement‐mediated inflammation, aiming to deliver targeted treatment options for patients with significant unmet medical needs.

Palvella's pipeline comprises several preclinical assets designed to address both prevalent chronic inflammatory conditions and rare autoinflammatory syndromes.

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