Strid Group LLC Makes New $818,000 Investment in Palvella Therapeutics, Inc. (NASDAQ:PVLA)

Strid Group LLC bought a new stake in shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,219 shares of the company's stock, valued at approximately $818,000. Strid Group LLC owned about 0.27% of Palvella Therapeutics as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Suvretta Capital Management LLC acquired a new position in shares of Palvella Therapeutics during the fourth quarter valued at about $8,574,000. BVF Inc. IL purchased a new stake in Palvella Therapeutics during the 4th quarter worth approximately $8,359,000. Samsara BioCapital LLC acquired a new position in Palvella Therapeutics during the 4th quarter valued at approximately $8,154,000. Frazier Life Sciences Management L.P. acquired a new position in Palvella Therapeutics during the 4th quarter valued at approximately $7,847,000. Finally, Adams Street Partners LLC purchased a new position in shares of Palvella Therapeutics in the fourth quarter worth $4,916,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Palvella Therapeutics Stock Performance

NASDAQ PVLA traded up $1.16 during mid-day trading on Wednesday, reaching $23.83. 79,132 shares of the stock were exchanged, compared to its average volume of 80,087. The company has a market capitalization of $263.56 million, a P/E ratio of -1.97 and a beta of -0.11. The business's 50 day moving average is $23.40 and its 200-day moving average is $20.59. Palvella Therapeutics, Inc. has a 1 year low of $6.20 and a 1 year high of $29.27.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last issued its quarterly earnings data 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. Equities analysts predict that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PVLA. HC Wainwright reissued a "buy" rating and set a $38.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, April 30th. Canaccord Genuity Group dropped their price target on Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Jones Trading initiated coverage on Palvella Therapeutics in a report on Tuesday, March 25th. They issued a "buy" rating and a $45.00 price objective on the stock. Stifel Nicolaus initiated coverage on Palvella Therapeutics in a research note on Wednesday, March 26th. They issued a "buy" rating and a $45.00 price objective for the company. Finally, Chardan Capital initiated coverage on Palvella Therapeutics in a research report on Wednesday, April 9th. They issued a "buy" rating and a $50.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $46.29.

Insiders Place Their Bets

In other Palvella Therapeutics news, Director George M. Jenkins purchased 2,500 shares of the stock in a transaction on Wednesday, April 9th. The shares were bought at an average price of $20.13 per share, for a total transaction of $50,325.00. Following the completion of the transaction, the director owned 183,171 shares of the company's stock, valued at $3,687,232.23. This trade represents a 1.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 20.50% of the company's stock.

About Palvella Therapeutics

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.