George Jenkins Sells 1,777 Shares of Palvella Therapeutics (NASDAQ:PVLA) Stock

Key Points

• Director George Jenkins sold 1,777 Palvella Therapeutics shares for approximately $266,799 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 1.1% to 160,116 shares.
• PVLA shares fell 0.3% to $151.22, while the company recently reported a quarterly loss of $1.52 per share, missing the consensus estimate of a $1.17 loss.
• Analysts maintain a consensus “Buy” rating with a $209.14 price target, although institutional investors own 40.11% of the stock and analyst opinions range from “Strong Buy” to “Sell.”

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) Director George Jenkins sold 1,777 shares of the firm's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $150.14, for a total transaction of $266,798.78. Following the sale, the director owned 160,116 shares of the company's stock, valued at approximately $24,039,816.24. The trade was a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Trading Down 0.3%

PVLA stock traded down $0.47 during trading on Tuesday, reaching $151.22. 215,632 shares of the stock were exchanged, compared to its average volume of 186,628. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -31.31 and a beta of -0.25. The business has a 50 day moving average price of $149.13 and a 200-day moving average price of $132.62. Palvella Therapeutics, Inc. has a 1 year low of $54.28 and a 1 year high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.35). On average, research analysts anticipate that Palvella Therapeutics, Inc. will post -6.36 EPS for the current year.

Institutional Investors Weigh In On Palvella Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System lifted its stake in Palvella Therapeutics by 30.9% during the 2nd quarter. Arizona State Retirement System now owns 2,765 shares of the company's stock worth $423,000 after acquiring an additional 652 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Palvella Therapeutics during the second quarter worth about $35,000. Penn Capital Management Company LLC acquired a new stake in shares of Palvella Therapeutics during the second quarter worth about $841,000. Hsbc Holdings PLC purchased a new position in shares of Palvella Therapeutics in the second quarter valued at approximately $7,641,000. Finally, Wellington Management Group LLP grew its holdings in shares of Palvella Therapeutics by 4.6% in the second quarter. Wellington Management Group LLP now owns 35,594 shares of the company's stock valued at $5,439,000 after purchasing an additional 1,554 shares in the last quarter. Hedge funds and other institutional investors own 40.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PVLA. Stephens reiterated an "overweight" rating and set a $220.00 price target on shares of Palvella Therapeutics in a report on Thursday, May 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Palvella Therapeutics in a research report on Monday, June 29th. Chardan Capital upgraded shares of Palvella Therapeutics to a "strong-buy" rating in a research report on Tuesday, July 28th. Canaccord Genuity Group set a $232.00 price target on shares of Palvella Therapeutics in a research note on Wednesday, August 5th. Finally, Truist Financial set a $207.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $209.14.

About Palvella Therapeutics

Palvella Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for patients with rare genetic and dermatologic diseases. The company uses its proprietary QTORIN platform to formulate and deliver medicines locally to affected tissues, with the goal of improving treatment effectiveness while limiting systemic exposure.

Palvella's lead program is QTORIN 3.9% rapamycin, an investigational topical gel being developed for microcystic lymphatic malformations, rare lesions caused by abnormalities in the lymphatic system.

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