Palvella Therapeutics, Inc. (NASDAQ:PVLA) Short Interest Up 58.3% in September

Key Points

• Palvella Therapeutics experienced a significant 58.3% increase in short interest in September, with a total of 1,090,000 shares short sold, representing approximately 15.6% of the company's stock.
• Several hedge funds have recently increased their positions in Palvella Therapeutics, with a total of about 40.11% of the stock owned by institutional investors.
• A majority of analysts have given Palvella Therapeutics a consensus rating of "Moderate Buy", with price targets ranging from $75.50 to $120.00.

Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totaling 1,090,000 shares, an increase of 58.3% from the September 15th total of 688,700 shares. Approximately 15.6% of the company's stock are short sold. Based on an average trading volume of 169,600 shares, the short-interest ratio is currently 6.4 days. Based on an average trading volume of 169,600 shares, the short-interest ratio is currently 6.4 days. Approximately 15.6% of the company's stock are short sold.

Hedge Funds Weigh In On Palvella Therapeutics

A number of large investors have recently modified their holdings of PVLA. Police & Firemen s Retirement System of New Jersey purchased a new position in Palvella Therapeutics in the 2nd quarter worth $37,000. Spire Wealth Management purchased a new stake in Palvella Therapeutics in the first quarter worth $70,000. JPMorgan Chase & Co. raised its stake in Palvella Therapeutics by 108,066.7% in the second quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company's stock worth $73,000 after buying an additional 3,242 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Palvella Therapeutics in the second quarter worth $85,000. Finally, BNP Paribas Financial Markets purchased a new stake in Palvella Therapeutics in the second quarter worth about $104,000. 40.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on PVLA. Truist Financial lifted their price target on shares of Palvella Therapeutics from $56.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. Oppenheimer assumed coverage on shares of Palvella Therapeutics in a report on Tuesday, September 9th. They issued an "outperform" rating and a $85.00 target price on the stock. Stifel Nicolaus lifted their price target on Palvella Therapeutics from $60.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Canaccord Genuity Group raised their target price on Palvella Therapeutics from $66.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, October 9th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $120.00 price target on shares of Palvella Therapeutics in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.50.

Palvella Therapeutics Price Performance

Shares of Palvella Therapeutics stock traded up $0.74 during trading hours on Wednesday, reaching $76.39. The company had a trading volume of 38,571 shares, compared to its average volume of 112,683. The firm has a market cap of $844.87 million, a PE ratio of -6.31 and a beta of -0.13. Palvella Therapeutics has a one year low of $11.17 and a one year high of $77.77. The business has a fifty day simple moving average of $59.69 and a 200 day simple moving average of $37.99.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.08). On average, research analysts forecast that Palvella Therapeutics will post -3.69 EPS for the current year.

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.

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