Insider Selling: Palvella Therapeutics (NASDAQ:PVLA) Director Sells $49,141.00 in Stock

Key Points

• Director Christopher Kiritsy sold 313 Palvella Therapeutics shares at an average price of $157, generating $49,141. The sale reduced his direct holdings by 55.6% to 250 shares.
• PVLA recently traded at $157.24, near its 52-week high of $161.38, but the company reported a quarterly loss of $1.52 per share, missing analyst expectations of a $1.17 loss.
• Analysts maintain a generally positive view, with an average rating of “Buy” and a $209.14 price target; institutional investors own 40.11% of the stock.

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) Director Christopher Kiritsy sold 313 shares of the firm's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $157.00, for a total transaction of $49,141.00. Following the completion of the transaction, the director directly owned 250 shares of the company's stock, valued at approximately $39,250. This trade represents a 55.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Palvella Therapeutics Price Performance

NASDAQ:PVLA traded up $1.77 on Friday, hitting $157.24. 162,218 shares of the company's stock were exchanged, compared to its average volume of 265,893. The firm has a 50-day moving average price of $148.17 and a 200-day moving average price of $129.27. Palvella Therapeutics, Inc. has a 52 week low of $52.36 and a 52 week high of $161.38. The company has a market cap of $2.27 billion, a P/E ratio of -32.55 and a beta of -0.25.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last announced its quarterly earnings data 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 expect that Palvella Therapeutics, Inc. will post -6.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palvella Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PVLA. Bank of America Corp DE boosted its holdings in shares of Palvella Therapeutics by 25.4% in the 1st quarter. Bank of America Corp DE now owns 37,972 shares of the company's stock valued at $4,733,000 after purchasing an additional 7,700 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Palvella Therapeutics by 688.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 17,907 shares of the company's stock worth $2,232,000 after buying an additional 15,637 shares in the last quarter. Blue Owl Capital Holdings LP acquired a new position in shares of Palvella Therapeutics during the 2nd quarter worth $5,541,000. Deutsche Bank AG bought a new stake in shares of Palvella Therapeutics during the 2nd quarter worth $1,809,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Palvella Therapeutics in the first quarter valued at about $13,190,000. Institutional investors own 40.11% of the company's stock.

Analyst Ratings Changes

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

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc NASDAQ: PVLA is a clinical‐stage biopharmaceutical company devoted to the discovery and development of innovative therapies for immunological and inflammatory diseases. The company employs a proprietary small‐molecule and biologics platform to identify and modulate key molecular pathways that drive neutrophil‐ and complement‐mediated inflammation, aiming to deliver targeted treatment options for patients with significant unmet medical needs.

Palvella's pipeline comprises several preclinical assets designed to address both prevalent chronic inflammatory conditions and rare autoinflammatory syndromes.

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