Woodline Partners LP Acquires Shares of 194,167 Palvella Therapeutics, Inc. $PVLA

Key Points

• Woodline Partners LP has invested approximately $5.44 million in Palvella Therapeutics, acquiring 194,167 shares, which represents about 1.76% ownership of the company.
• Palvella Therapeutics reported a loss of $0.86 per share for the latest quarter, which was below analysts' expectations, indicating potential challenges ahead.
• Multiple analysts have set new price targets for Palvella Therapeutics, with a consensus price target of $60.91 and most analysts rating the stock as a "Buy".

Woodline Partners LP acquired a new stake in Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 194,167 shares of the company's stock, valued at approximately $5,435,000. Woodline Partners LP owned 1.76% of Palvella Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Spire Wealth Management purchased a new position in shares of Palvella Therapeutics in the 1st quarter valued at about $70,000. Citadel Advisors LLC purchased a new position in shares of Palvella Therapeutics in the 4th quarter valued at about $125,000. Toronto Dominion Bank purchased a new position in shares of Palvella Therapeutics in the 4th quarter valued at about $159,000. Goldman Sachs Group Inc. purchased a new position in shares of Palvella Therapeutics in the 1st quarter valued at about $533,000. Finally, Cresset Asset Management LLC purchased a new position in shares of Palvella Therapeutics in the 4th quarter valued at about $251,000. Hedge funds and other institutional investors own 40.11% of the company's stock.

Palvella Therapeutics Stock Performance

NASDAQ PVLA traded up $2.35 on Thursday, reaching $58.92. The stock had a trading volume of 31,409 shares, compared to its average volume of 98,925. Palvella Therapeutics, Inc. has a 12-month low of $11.17 and a 12-month high of $61.48. The business's 50-day moving average price is $44.56 and its 200 day moving average price is $31.16. The stock has a market cap of $651.66 million, a P/E ratio of -4.87 and a beta of -0.03.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.86) earnings per share for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.08). On average, sell-side analysts predict that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PVLA shares. Lifesci Capital initiated coverage on Palvella Therapeutics in a research note on Monday, August 4th. They issued an "outperform" rating and a $90.00 price objective for the company. Chardan Capital boosted their target price on Palvella Therapeutics from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Raymond James Financial set a $54.00 target price on Palvella Therapeutics and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Oppenheimer initiated coverage on Palvella Therapeutics in a research note on Tuesday, September 9th. They set an "outperform" rating and a $85.00 target price for the company. Finally, HC Wainwright boosted their target price on Palvella Therapeutics from $38.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $60.91.

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.