Palvella Therapeutics, Inc. $PVLA Shares Bought by Avidity Partners Management LP

Key Points

• Avidity Partners Management LP increased its Palvella Therapeutics stake by 262.7% in the first quarter, purchasing 50,700 additional shares for a total of 70,000 shares worth approximately $8.7 million. Institutional investors and hedge funds collectively own 40.11% of PVLA.
• Analyst sentiment is largely positive, with an average “Buy” rating and a consensus price target of $199.53; individual targets include $220 from Stephens and $270 from HC Wainwright. However, two rating firms maintain a sell view.
• PVLA opened at $139.04 and has risen well above its 52-week low of $34.57, but the company reported a quarterly loss of $1.20 per share, missing the $0.90 consensus estimate. COO Kathleen Goin also sold 4,302 shares under a pre-arranged trading plan.

Avidity Partners Management LP raised its position in Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) by 262.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,000 shares of the company's stock after purchasing an additional 50,700 shares during the period. Palvella Therapeutics accounts for 1.7% of Avidity Partners Management LP's investment portfolio, making the stock its 10th largest holding. Avidity Partners Management LP owned approximately 0.49% of Palvella Therapeutics worth $8,726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Group One Trading LLC raised its holdings in Palvella Therapeutics by 151.5% during the fourth 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. KBC Group NV purchased a new position in shares of Palvella Therapeutics in the 1st quarter valued at $28,000. Price T Rowe Associates Inc. MD raised its stake in Palvella Therapeutics by 11.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,090 shares of the company's stock worth $429,000 after acquiring an additional 433 shares in the last quarter. Bank of America Corp DE raised its stake in Palvella Therapeutics by 12.3% during the 3rd quarter. Bank of America Corp DE now owns 4,689 shares of the company's stock worth $294,000 after acquiring an additional 515 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Palvella Therapeutics by 8.7% in the fourth quarter. Deutsche Bank AG now owns 6,594 shares of the company's stock valued at $690,000 after acquiring an additional 528 shares during the last quarter. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PVLA. Stephens reissued an "overweight" rating and issued a $220.00 target price on shares of Palvella Therapeutics in a research report on Thursday, May 21st. Chardan Capital upgraded Palvella Therapeutics to a "strong-buy" rating in a research note on Tuesday. HC Wainwright restated a "buy" rating and set a $270.00 target price on shares of Palvella Therapeutics in a research report on Wednesday, July 22nd. Wall Street Zen cut shares of Palvella Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Palvella Therapeutics in a report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Palvella Therapeutics has an average rating of "Buy" and a consensus price target of $199.53.

Palvella Therapeutics Stock Performance

Shares of PVLA opened at $139.04 on Friday. Palvella Therapeutics, Inc. has a fifty-two week low of $34.57 and a fifty-two week high of $161.38. The company has a market capitalization of $1.99 billion, a PE ratio of -33.34 and a beta of -0.20. The stock has a fifty day moving average of $130.19 and a two-hundred day moving average of $118.29.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.30). As a group, equities research analysts forecast that Palvella Therapeutics, Inc. will post -5.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palvella Therapeutics news, COO Kathleen Goin sold 4,302 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $110.73, for a total transaction of $476,360.46. Following the transaction, the chief operating officer owned 2,154 shares of the company's stock, valued at $238,512.42. This trade represents a 66.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.20% of the company's stock.

About Palvella Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.