Palvella Therapeutics (NASDAQ:PVLA) COO Kathleen Goin Sells 4,302 Shares

Key Points

• COO Kathleen Goin sold 4,302 Palvella Therapeutics shares at an average price of $152.24, totaling $654,936.48. The Rule 10b5-1 transaction reduced her holdings by 66.64%, leaving her with 2,154 shares.
• PVLA shares fell 2.4% to $150.56 during Friday trading, while the company reported a quarterly loss of $1.52 per share, missing analyst expectations of a $1.17 loss.
• Analysts remain broadly positive, with the stock carrying an average “Buy” rating and a $209.14 average price target, despite one sell rating. Institutional investors own 40.11% of the company.

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) COO Kathleen Goin sold 4,302 shares of the company's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $152.24, for a total value of $654,936.48. Following the completion of the transaction, the chief operating officer owned 2,154 shares of the company's stock, valued at $327,924.96. The trade was a 66.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kathleen Goin also recently made the following trade(s):

• On Wednesday, August 19th, Kathleen Goin sold 4,302 shares of Palvella Therapeutics stock. The shares were sold at an average price of $152.21, for a total value of $654,807.42.

Palvella Therapeutics Stock Down 2.4%

Shares of PVLA traded down $3.76 during mid-day trading on Friday, hitting $150.56. The company had a trading volume of 633,630 shares, compared to its average volume of 264,656. Palvella Therapeutics, Inc. has a 1-year low of $56.22 and a 1-year high of $161.38. The business's 50-day simple moving average is $149.32 and its 200-day simple moving average is $132.77. The stock has a market cap of $2.17 billion, a PE ratio of -31.17 and a beta of -0.25.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PVLA. BlackRock Inc. acquired a new position in shares of Palvella Therapeutics in the 2nd quarter valued at approximately $140,343,000. First Light Asset Management LLC raised its holdings in Palvella Therapeutics by 38.3% in the first quarter. First Light Asset Management LLC now owns 980,758 shares of the company's stock valued at $122,251,000 after acquiring an additional 271,617 shares in the last quarter. Jennison Associates LLC boosted its stake in Palvella Therapeutics by 65.3% during the 1st quarter. Jennison Associates LLC now owns 640,611 shares of the company's stock valued at $79,852,000 after acquiring an additional 253,128 shares during the last quarter. Summit Partners Public Asset Management LLC grew its holdings in Palvella Therapeutics by 1,016.0% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 389,420 shares of the company's stock worth $40,761,000 after acquiring an additional 354,525 shares in the last quarter. Finally, Primecap Management Co. CA acquired a new position in Palvella Therapeutics during the 2nd quarter worth $39,150,000. Institutional investors and hedge funds own 40.11% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.