Palvella Therapeutics, Inc. $PVLA Stock Holdings Decreased by First Light Asset Management LLC

Key Points

• First Light Asset Management cut its Palvella Therapeutics stake by 21.3% in the second quarter, selling 208,857 shares and retaining 771,901 shares valued at approximately $118 million. Institutional investors overall own 40.11% of PVLA.
• PVLA shares opened at $151.34, near their 12-month high of $161.38, while the company reported a quarterly loss of $1.52 per share—worse than the $1.17 consensus estimate.
• Analyst sentiment remains positive, with a consensus “Buy” rating and a $209.14 target price, although insiders sold 8,917 shares worth roughly $1.18 million over the past three months.

First Light Asset Management LLC lowered its stake in Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) by 21.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 771,901 shares of the company's stock after selling 208,857 shares during the period. Palvella Therapeutics makes up approximately 7.2% of First Light Asset Management LLC's portfolio, making the stock its 5th biggest holding. First Light Asset Management LLC owned about 5.36% of Palvella Therapeutics worth $117,962,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank of America Corp DE grew its position in Palvella Therapeutics by 25.4% in the 1st quarter. Bank of America Corp DE now owns 37,972 shares of the company's stock valued at $4,733,000 after buying an additional 7,700 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Palvella Therapeutics by 688.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 17,907 shares of the company's stock worth $2,232,000 after acquiring an additional 15,637 shares during the period. Blue Owl Capital Holdings LP acquired a new stake in shares of Palvella Therapeutics in the 2nd quarter worth $5,541,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Palvella Therapeutics in the first quarter valued at about $13,190,000. Finally, WCM Investment Management LLC purchased a new stake in shares of Palvella Therapeutics in the first quarter valued at about $4,982,000. Hedge funds and other institutional investors own 40.11% of the company's stock.

Palvella Therapeutics Trading Down 0.6%

Shares of PVLA opened at $151.34 on Thursday. Palvella Therapeutics, Inc. has a twelve month low of $53.30 and a twelve month high of $161.38. The firm has a market capitalization of $2.18 billion, a P/E ratio of -31.33 and a beta of -0.25. The firm's 50-day moving average is $148.65 and its two-hundred day moving average is $131.34.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.35). Analysts predict that Palvella Therapeutics, Inc. will post -6.36 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PVLA. Chardan Capital raised shares of Palvella Therapeutics to a "strong-buy" rating in a report on Tuesday, July 28th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Palvella Therapeutics in a research report on Monday, June 29th. Canaccord Genuity Group set a $232.00 target price on Palvella Therapeutics in a research note on Wednesday, August 5th. Stephens reissued an "overweight" rating and issued a $220.00 price target on shares of Palvella Therapeutics in a report on Thursday, May 21st. Finally, Truist Financial set a $207.00 price target on Palvella Therapeutics in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $209.14.

Insider Transactions at Palvella Therapeutics

In other news, Director Christopher Kiritsy sold 313 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $157.00, for a total value of $49,141.00. Following the sale, the director directly owned 250 shares in the company, valued at $39,250. This represents a 55.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kathleen Goin sold 4,302 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $152.21, for a total value 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. Over the last three months, insiders sold 8,917 shares of company stock worth $1,180,309. 17.20% of the stock is owned by corporate insiders.

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.

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