Royce & Associates LP Makes New $2 Million Investment in Palvella Therapeutics, Inc. (NASDAQ:PVLA)

Royce & Associates LP bought a new stake in Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 71,514 shares of the company's stock, valued at approximately $2,002,000. Royce & Associates LP owned about 0.65% of Palvella Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new stake in Palvella Therapeutics during the 1st quarter valued at approximately $70,000. Citadel Advisors LLC acquired a new position in Palvella Therapeutics during the 4th quarter worth approximately $125,000. Toronto Dominion Bank purchased a new position in shares of Palvella Therapeutics during the 4th quarter worth approximately $159,000. Geode Capital Management LLC purchased a new position in shares of Palvella Therapeutics during the 4th quarter worth approximately $171,000. Finally, Cresset Asset Management LLC purchased a new position in shares of Palvella Therapeutics during the 4th quarter worth approximately $251,000. 40.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PVLA shares. Canaccord Genuity Group cut their target price on Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Truist Financial started coverage on Palvella Therapeutics in a research note on Monday, July 21st. They set a "buy" rating and a $56.00 target price for the company. Chardan Capital started coverage on Palvella Therapeutics in a research note on Wednesday, April 9th. They set a "buy" rating and a $50.00 target price for the company. Finally, HC Wainwright reissued a "buy" rating and set a $38.00 target price on shares of Palvella Therapeutics in a research note on Wednesday, April 30th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $47.50.

Palvella Therapeutics Stock Down 1.4%

Shares of PVLA traded down $0.52 on Friday, reaching $36.06. The stock had a trading volume of 18,947 shares, compared to its average volume of 92,885. The firm has a market capitalization of $398.82 million, a PE ratio of -2.98 and a beta of -0.11. The firm has a 50-day moving average of $26.46 and a 200 day moving average of $23.03. Palvella Therapeutics, Inc. has a twelve month low of $11.17 and a twelve month high of $40.50.

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

Palvella Therapeutics Company 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.