Shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA - Get Free Report) dropped 6% during mid-day trading on Friday . The stock traded as low as $54.83 and last traded at $54.94. Approximately 88,447 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 98,110 shares. The stock had previously closed at $58.45.
Wall Street Analyst Weigh In
PVLA has been the topic of several analyst reports. HC Wainwright upped their price objective on Palvella Therapeutics from $38.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Chardan Capital raised their price target on Palvella Therapeutics from $50.00 to $60.00 and gave the company a "buy" rating in a report on Friday, August 15th. Canaccord Genuity Group raised their price target on Palvella Therapeutics from $52.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, August 19th. Oppenheimer started coverage on Palvella Therapeutics in a research report on Tuesday, September 9th. They set an "outperform" rating and a $85.00 price objective for the company. Finally, Lifesci Capital initiated coverage on Palvella Therapeutics in a research report on Monday, August 4th. They issued an "outperform" rating and a $90.00 price target for the company. One analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. According to MarketBeat.com, Palvella Therapeutics currently has an average rating of "Buy" and a consensus target price of $60.91.
Read Our Latest Stock Analysis on Palvella Therapeutics
Palvella Therapeutics Stock Up 3.8%
The stock's fifty day simple moving average is $44.56 and its 200 day simple moving average is $31.16.
Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.08). Equities research analysts expect that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current year.
Institutional Investors Weigh In On Palvella Therapeutics
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey acquired a new position in Palvella Therapeutics in the second quarter valued at $37,000. Spire Wealth Management acquired a new position in Palvella Therapeutics in the first quarter valued at $70,000. JPMorgan Chase & Co. increased its stake in shares of Palvella Therapeutics by 108,066.7% during the second quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company's stock worth $73,000 after acquiring an additional 3,242 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Palvella Therapeutics during the second quarter worth about $85,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Palvella Therapeutics during the second quarter worth about $104,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.
About Palvella Therapeutics
(
Get Free Report)
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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