Palvella Therapeutics (NASDAQ:PVLA) Director George Jenkins Sells 12,371 Shares of Stock

Key Points

• Director George Jenkins sold 12,371 Palvella shares at an average price of $151.28, generating approximately $1.87 million. The Rule 10b5-1 transaction reduced his direct ownership by 6.59% to 175,245 shares.
• PVLA shares fell 0.3% to $151.22, while the company reported quarterly EPS of negative $1.52, missing analysts’ expectations of negative $1.17.
• 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 12,371 shares of the firm's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $151.28, for a total value of $1,871,484.88. Following the transaction, the director directly owned 175,245 shares in the company, valued at $26,511,063.60. This trade represents a 6.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 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, hitting $151.22. The company had a trading volume of 215,632 shares, 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 of $149.13 and a 200 day moving average of $132.62. Palvella Therapeutics, Inc. has a fifty-two week low of $54.28 and a fifty-two week high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.35). As a group, equities analysts predict that Palvella Therapeutics, Inc. will post -6.36 EPS for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Palvella Therapeutics

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

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