Palvella Therapeutics (NASDAQ:PVLA) Director Sells $1,758,290.88 in Stock

Key Points

• Director George Jenkins sold 13,152 Palvella Therapeutics shares for approximately $1.76 million at an average price of $133.69, reducing his position by 8.21%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Palvella shares fell to $122.58, while the company’s latest quarterly loss of $1.52 per share was worse than analysts’ expected loss of $1.17. Analysts project a full-year loss of $6.40 per share.
• Despite the insider sale and earnings miss, analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $207.43; institutional investors own 40.11% of the stock.

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) Director George Jenkins sold 13,152 shares of the firm's stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $133.69, for a total value of $1,758,290.88. Following the sale, the director owned 146,964 shares in the company, valued at $19,647,617.16. The trade was a 8.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Price Performance

Shares of Palvella Therapeutics stock traded down $5.93 during trading on Wednesday, hitting $122.58. 382,261 shares of the stock traded hands, compared to its average volume of 237,043. Palvella Therapeutics, Inc. has a 52 week low of $68.96 and a 52 week high of $161.38. The firm's fifty day moving average is $146.74 and its 200-day moving average is $134.32.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($1.52) EPS for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.35). Sell-side analysts forecast that Palvella Therapeutics, Inc. will post -6.40 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. HC Wainwright decreased their price target on Palvella Therapeutics from $270.00 to $246.00 and set a "buy" rating on the stock in a research note on Monday. Canaccord Genuity Group set a $232.00 price objective on Palvella Therapeutics in a research report on Wednesday, August 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Palvella Therapeutics in a research note on Friday, September 25th. Truist Financial set a $207.00 target price on shares of Palvella Therapeutics in a report on Wednesday, August 5th. Finally, Chardan Capital initiated coverage on shares of Palvella Therapeutics in a report on Monday, September 21st. They issued a "buy" rating and a $240.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $207.43.

Institutional Investors Weigh In On Palvella Therapeutics

A number of large investors have recently made changes to their positions in PVLA. BlackRock Inc. purchased a new stake in Palvella Therapeutics in the second quarter worth $140,343,000. First Light Asset Management LLC boosted its position in 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 acquiring an additional 271,617 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Palvella Therapeutics by 65.3% during the 1st quarter. Jennison Associates LLC now owns 640,611 shares of the company's stock worth $79,852,000 after acquiring an additional 253,128 shares during the period. Summit Partners Public Asset Management LLC raised 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 worth $40,761,000 after acquiring an additional 354,525 shares in the last quarter. Finally, Primecap Management Co. CA bought a new stake in shares of Palvella Therapeutics during the second quarter valued at approximately $39,150,000. 40.11% of the stock is currently owned by institutional investors.

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for patients with rare and serious diseases. The company's work centers on localized treatments intended to address conditions for which existing therapeutic options are limited.

Palvella's lead investigational product is QTORIN 3.9%, a topical formulation of sirolimus designed to deliver the medicine directly to affected areas of the skin. The product is being developed for microcystic lymphatic malformations, rare vascular anomalies that can cause swelling, pain and disfigurement.

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