Nantahala Capital Management LLC Invests $3 Million in Palvella Therapeutics (NASDAQ:PVLA)

Nantahala Capital Management LLC purchased a new position in shares of Palvella Therapeutics (NASDAQ:PVLA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 250,062 shares of the company's stock, valued at approximately $3,001,000. Nantahala Capital Management LLC owned 2.23% of Palvella Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Owl Capital Holdings LP purchased a new stake in Palvella Therapeutics in the fourth quarter worth $3,001,000. Renaissance Technologies LLC bought a new position in Palvella Therapeutics in the 4th quarter worth about $256,000. ADAR1 Capital Management LLC bought a new position in Palvella Therapeutics in the 4th quarter worth about $1,736,000. Geode Capital Management LLC bought a new stake in shares of Palvella Therapeutics during the fourth quarter valued at approximately $171,000. Finally, BML Capital Management LLC purchased a new stake in shares of Palvella Therapeutics in the fourth quarter valued at approximately $506,000. 40.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PVLA shares. Stifel Nicolaus assumed coverage on shares of Palvella Therapeutics in a research note on Wednesday, March 26th. They set a "buy" rating and a $45.00 price objective on the stock. Chardan Capital assumed coverage on Palvella Therapeutics in a research note on Wednesday, April 9th. They set a "buy" rating and a $50.00 price objective for the company. TD Cowen initiated coverage on Palvella Therapeutics in a research note on Wednesday, February 5th. They issued a "buy" rating and a $44.00 target price on the stock. Canaccord Genuity Group restated a "buy" rating and issued a $39.00 price target on shares of Palvella Therapeutics in a report on Wednesday, February 26th. Finally, Jones Trading initiated coverage on shares of Palvella Therapeutics in a research report on Tuesday, March 25th. They set a "buy" rating and a $45.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $44.43.

Insider Activity at Palvella Therapeutics

In other news, Director George M. Jenkins bought 2,500 shares of the stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average cost of $20.13 per share, with a total value of $50,325.00. Following the purchase, the director now directly owns 183,171 shares in the company, valued at $3,687,232.23. The trade was a 1.38 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.39% of the company's stock.

Palvella Therapeutics Trading Up 1.5 %

PVLA stock traded up $0.37 during trading on Friday, hitting $24.46. 51,579 shares of the company traded hands, compared to its average volume of 71,726. Palvella Therapeutics has a 1 year low of $6.20 and a 1 year high of $29.27. The stock's 50-day moving average is $24.45. The firm has a market capitalization of $269.52 million, a P/E ratio of -2.02 and a beta of 0.10.

About Palvella Therapeutics

Palvella Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases. Palvella Therapeutics Inc, formerly known as Pieris Pharmaceuticals Inc, is based in WAYNE, Pa.