Strid Group LLC Takes $818,000 Position in Palvella Therapeutics, Inc. (NASDAQ:PVLA)

Strid Group LLC purchased a new stake in Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,219 shares of the company's stock, valued at approximately $818,000. Strid Group LLC owned about 0.27% of Palvella Therapeutics at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Spire Wealth Management acquired a new stake in Palvella Therapeutics during the first quarter worth approximately $70,000. Citadel Advisors LLC acquired a new stake in Palvella Therapeutics during the fourth quarter worth approximately $125,000. Toronto Dominion Bank acquired a new stake in Palvella Therapeutics during the fourth quarter worth approximately $159,000. Geode Capital Management LLC acquired a new stake in Palvella Therapeutics during the fourth quarter worth approximately $171,000. Finally, Cresset Asset Management LLC acquired a new stake in Palvella Therapeutics during the fourth quarter worth approximately $251,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PVLA. Jones Trading assumed coverage on shares of Palvella Therapeutics in a research report on Tuesday, March 25th. They set a "buy" rating and a $45.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $38.00 price target on shares of Palvella Therapeutics in a research note on Wednesday, April 30th. Scotiabank assumed coverage on shares of Palvella Therapeutics in a research note on Friday, March 7th. They set a "sector outperform" rating and a $50.00 price target on the stock. Canaccord Genuity Group cut their price target on shares of Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Finally, Chardan Capital assumed coverage on shares of Palvella Therapeutics in a research note on Wednesday, April 9th. They set a "buy" rating and a $50.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $46.29.

Palvella Therapeutics Price Performance

Palvella Therapeutics stock opened at $22.08 on Friday. Palvella Therapeutics, Inc. has a 12-month low of $6.20 and a 12-month high of $29.27. The stock has a market cap of $244.20 million, a P/E ratio of -1.82 and a beta of -0.10. The business's fifty day moving average price is $23.54.

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 (EPS) for the quarter, topping the consensus estimate of ($3.40) by $2.66. As a group, sell-side analysts predict that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current year.

Insider Buying and Selling

In related news, Director George M. Jenkins acquired 2,500 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was bought at an average cost of $20.13 per share, with a total value of $50,325.00. Following the acquisition, the director now directly owns 183,171 shares in the company, valued at approximately $3,687,232.23. The trade was a 1.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 20.50% of the stock is currently owned by insiders.

Palvella Therapeutics 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.