Strid Group LLC Lowers Stake in Palvella Therapeutics, Inc. $PVLA

Key Points

• Strid Group LLC reduced its stake in Palvella Therapeutics by 37.8%, owning 18,166 shares after selling 11,053 shares in Q2, which valued their hold at approximately $409,000.
• Brokerages have varying ratings on Palvella Therapeutics, with Raymond James setting a target price of $54.00 and HC Wainwright increasing their target from $75.00 to $95.00.
• Palvella Therapeutics reported a loss of ($0.86) EPS in its latest quarter, missing analyst estimates, and expects an annual EPS of ($3.69).

Strid Group LLC lowered its stake in shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) by 37.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,166 shares of the company's stock after selling 11,053 shares during the quarter. Strid Group LLC owned 0.16% of Palvella Therapeutics worth $409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. raised its position in Palvella Therapeutics by 5.5% in the 1st quarter. Frazier Life Sciences Management L.P. now owns 690,012 shares of the company's stock worth $19,313,000 after purchasing an additional 36,120 shares during the period. Millennium Management LLC purchased a new position in Palvella Therapeutics in the 1st quarter worth $7,553,000. Woodline Partners LP purchased a new position in Palvella Therapeutics in the 1st quarter worth $5,435,000. Clio Asset Management LLC purchased a new position in Palvella Therapeutics in the 2nd quarter worth $2,063,000. Finally, Royce & Associates LP purchased a new position in Palvella Therapeutics in the 1st quarter worth $2,002,000. Hedge funds and other institutional investors own 40.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PVLA. Raymond James Financial set a $54.00 target price on shares of Palvella Therapeutics and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Palvella Therapeutics in a research report on Saturday, September 27th. HC Wainwright lifted their target price on shares of Palvella Therapeutics from $75.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Oppenheimer initiated coverage on shares of Palvella Therapeutics in a research report on Tuesday, September 9th. They issued an "outperform" rating and a $85.00 target price on the stock. Finally, Stifel Nicolaus raised their price target on shares of Palvella Therapeutics from $60.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $69.27.

Palvella Therapeutics Price Performance

Shares of NASDAQ PVLA opened at $65.78 on Friday. Palvella Therapeutics, Inc. has a 1 year low of $11.17 and a 1 year high of $65.80. The stock has a market cap of $727.53 million, a P/E ratio of -5.44 and a beta of -0.13. The firm has a 50-day moving average of $51.46 and a 200 day moving average of $34.12.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.08). Research analysts expect 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.

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