Insider Selling: Palvella Therapeutics (NASDAQ:PVLA) Director Sells $2,028,969.92 in Stock

Key Points

• Director George Jenkins sold 13,352 Palvella Therapeutics shares for approximately $2.03 million at an average price of $151.96, reducing his position by 7.62% under a pre-arranged Rule 10b5-1 plan.
• PVLA shares declined 0.3% to $151.22, while the company reported a quarterly loss of $1.52 per share, missing analysts’ estimate of a $1.17 loss.
• Analysts maintain a consensus “Buy” rating with an average price target of $209.14, and institutional investors own 40.11% of the company.

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) Director George Jenkins sold 13,352 shares of the company's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $151.96, for a total transaction of $2,028,969.92. Following the transaction, the director owned 161,893 shares of the company's stock, valued at approximately $24,601,260.28. This represents a 7.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Stock Down 0.3%

NASDAQ PVLA traded down $0.47 on Tuesday, reaching $151.22. The company had a trading volume of 215,632 shares, compared to its average volume of 186,628. The stock has a market capitalization of $2.18 billion, a PE ratio of -31.31 and a beta of -0.25. The firm's 50 day moving average price is $149.13 and its 200 day moving average price is $132.62. Palvella Therapeutics, Inc. has a 12 month low of $54.28 and a 12 month high of $161.38.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on PVLA shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Palvella Therapeutics in a research note on Monday, June 29th. Truist Financial set a $207.00 price objective on Palvella Therapeutics in a report on Wednesday, August 5th. Chardan Capital raised shares of Palvella Therapeutics to a "strong-buy" rating in a report on Tuesday, July 28th. HC Wainwright reissued a "buy" rating and issued a $270.00 price objective on shares of Palvella Therapeutics in a research note on Wednesday, July 22nd. Finally, Canaccord Genuity Group set a $232.00 target price on Palvella Therapeutics in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $209.14.

Institutional Investors Weigh In On Palvella Therapeutics

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Palvella Therapeutics in the second quarter valued at $140,343,000. First Light Asset Management LLC raised its stake in shares of Palvella Therapeutics by 38.3% during the 1st quarter. First Light Asset Management LLC now owns 980,758 shares of the company's stock valued at $122,251,000 after buying an additional 271,617 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Palvella Therapeutics by 65.3% in the 1st quarter. Jennison Associates LLC now owns 640,611 shares of the company's stock valued at $79,852,000 after buying an additional 253,128 shares during the period. Summit Partners Public Asset Management LLC boosted its stake in shares of Palvella Therapeutics by 1,016.0% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 389,420 shares of the company's stock worth $40,761,000 after buying an additional 354,525 shares during the last quarter. Finally, Primecap Management Co. CA acquired a new stake in Palvella Therapeutics during the second quarter worth about $39,150,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Palvella Therapeutics Company Profile

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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