Palvella Therapeutics, Inc. $PVLA Stock Position Increased by First Light Asset Management LLC

Key Points

• First Light Asset Management increased its Palvella Therapeutics position by 38.3% in the first quarter, bringing its holdings to 980,758 shares valued at approximately $122.3 million. Institutional investors collectively own 40.11% of PVLA.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $199.53, although some firms have issued sell ratings.
• PVLA opened at $138.01 and trades near its 12-month high of $161.38, but the company recently reported a quarterly loss of $1.20 per share, missing estimates by $0.30. COO Kathleen Goin also sold 4,302 shares under a pre-arranged trading plan.

First Light Asset Management LLC boosted its position in shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 980,758 shares of the company's stock after buying an additional 271,617 shares during the quarter. Palvella Therapeutics makes up 11.0% of First Light Asset Management LLC's holdings, making the stock its 2nd biggest position. First Light Asset Management LLC owned about 6.84% of Palvella Therapeutics worth $122,251,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PVLA. KBC Group NV acquired a new position in shares of Palvella Therapeutics in the first quarter worth about $28,000. Group One Trading LLC raised its holdings in Palvella Therapeutics by 151.5% in 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 during the period. Russell Investments Group Ltd. acquired a new position in Palvella Therapeutics in the 3rd quarter worth about $36,000. JPMorgan Chase & Co. boosted its position in Palvella Therapeutics by 108,066.7% during the second quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company's stock worth $73,000 after purchasing an additional 3,242 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Palvella Therapeutics during the second quarter worth approximately $85,000. Hedge funds and other institutional investors own 40.11% of the company's stock.

Insider Buying and Selling

In related news, COO Kathleen Goin sold 4,302 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $110.73, for a total value of $476,360.46. Following the completion of the transaction, the chief operating officer directly owned 2,154 shares of the company's stock, valued at approximately $238,512.42. This represents a 66.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Stephens restated an "overweight" rating and issued a $220.00 price objective on shares of Palvella Therapeutics in a research report on Thursday, May 21st. Chardan Capital reiterated a "buy" rating and set a $240.00 target price on shares of Palvella Therapeutics in a research report on Thursday, May 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of Palvella Therapeutics in a research note on Monday, June 29th. Wall Street Zen lowered shares of Palvella Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Finally, HC Wainwright restated a "buy" rating and set a $270.00 price objective on shares of Palvella Therapeutics in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.53.

Palvella Therapeutics Stock Performance

NASDAQ:PVLA opened at $138.01 on Monday. The stock has a 50 day moving average of $127.06 and a two-hundred day moving average of $116.76. Palvella Therapeutics, Inc. has a 12 month low of $34.57 and a 12 month high of $161.38. The firm has a market cap of $1.98 billion, a P/E ratio of -33.10 and a beta of -0.20.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.30). On average, research analysts forecast that Palvella Therapeutics, Inc. will post -5.26 earnings per share for the current year.

Palvella Therapeutics 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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