Palvella Therapeutics (NASDAQ:PVLA) Stock: Insider Jeffrey Martini Sells 6,250 Shares

Key Points

• Insider Jeffrey Martini sold 6,250 Palvella shares for about $1.04 million under a pre-arranged Rule 10b5-1 plan, reducing his stake by 59.43% to 4,266 shares.
• PVLA shares fell 6.6% to $153.18 in Thursday trading. The company reported a quarterly loss of $1.70 per share, narrower than analysts’ expected loss of $1.78.
• Analysts remain broadly positive: the stock has a consensus “Buy” rating and an average price target of $213.85, while several firms recently raised their targets.

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) insider Jeffrey Martini sold 6,250 shares of the firm's stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $166.98, for a total transaction of $1,043,625.00. Following the transaction, the insider owned 4,266 shares in the company, valued at $712,336.68. This represents a 59.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Trading Down 6.6%

NASDAQ:PVLA traded down $10.76 during midday trading on Thursday, hitting $153.18. 282,743 shares of the stock were exchanged, compared to its average volume of 263,176. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -27.85 and a beta of -0.21. Palvella Therapeutics, Inc. has a one year low of $72.22 and a one year high of $179.95. The business has a 50-day moving average price of $143.61 and a two-hundred day moving average price of $129.30.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($1.70) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.78) by $0.08. Sell-side analysts forecast that Palvella Therapeutics, Inc. will post -6.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PVLA. Bank of America Corp DE boosted its holdings in shares of Palvella Therapeutics by 25.4% in the first quarter. Bank of America Corp DE now owns 37,972 shares of the company's stock worth $4,733,000 after buying an additional 7,700 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Palvella Therapeutics by 688.9% during the first quarter. The Manufacturers Life Insurance Company now owns 17,907 shares of the company's stock valued at $2,232,000 after acquiring an additional 15,637 shares during the period. Blue Owl Capital Holdings LP acquired a new stake in shares of Palvella Therapeutics during the second quarter valued at approximately $5,541,000. Deutsche Bank AG purchased a new stake in shares of Palvella Therapeutics in the 2nd quarter valued at approximately $1,809,000. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Palvella Therapeutics in the 2nd quarter valued at approximately $6,567,000. Institutional investors own 40.11% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Chardan Capital restated a "buy" rating and issued a $240.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, October 28th. Canaccord Genuity Group lifted their target price on Palvella Therapeutics from $232.00 to $243.00 and gave the stock a "buy" rating in a report on Monday. Oppenheimer boosted their price target on shares of Palvella Therapeutics from $210.00 to $232.00 and gave the stock an "outperform" rating in a research report on Friday, November 6th. William Blair started coverage on shares of Palvella Therapeutics in a report on Friday, October 16th. They issued an "outperform" rating for the company. Finally, Truist Financial set a $207.00 price objective on shares of Palvella Therapeutics in a research report on Wednesday, August 5th. Two investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $213.85.

Palvella Therapeutics Company Profile

Palvella Therapeutics is a clinical-stage biopharmaceutical company developing treatments for patients with rare and serious diseases, with a focus on conditions affecting the skin and related tissues. The company is based in Wayne, Pennsylvania. Its pipeline includes QTORIN-based topical drug candidates, which use the company's platform to deliver medicines locally to affected tissue. Programs are being developed for conditions including microcystic lymphatic malformations and cutaneous venous malformations; these candidates are investigational and have not been established as approved treatments.

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