Suvretta Capital Management LLC Acquires New Holdings in Palvella Therapeutics (NASDAQ:PVLA)

Suvretta 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 714,463 shares of the company's stock, valued at approximately $8,574,000. Suvretta Capital Management LLC owned about 6.37% of Palvella Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Citadel Advisors LLC acquired a new stake in shares of Palvella Therapeutics in the 4th quarter valued at approximately $125,000. Geode Capital Management LLC bought a new stake in Palvella Therapeutics in the fourth quarter valued at approximately $171,000. Cresset Asset Management LLC acquired a new stake in Palvella Therapeutics in the fourth quarter worth $251,000. Renaissance Technologies LLC acquired a new stake in Palvella Therapeutics in the fourth quarter worth $256,000. Finally, BML Capital Management LLC bought a new position in shares of Palvella Therapeutics during the fourth quarter worth $506,000. 40.11% of the stock is owned by institutional investors.

Palvella Therapeutics Stock Up 3.0%

NASDAQ:PVLA traded up $0.67 during mid-day trading on Tuesday, reaching $23.23. 30,129 shares of the company's stock were exchanged, compared to its average volume of 68,540. Palvella Therapeutics has a one year low of $6.20 and a one year high of $29.27. The business's fifty day moving average is $24.40. The stock has a market capitalization of $256.53 million, a price-to-earnings ratio of -1.92 and a beta of 0.10.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.74) EPS for the quarter, topping analysts' consensus estimates of ($3.40) by $2.66. As a group, analysts expect that Palvella Therapeutics will post -3.69 earnings per share for the current fiscal year.

Insider Activity at Palvella Therapeutics

In other Palvella Therapeutics news, Director George M. Jenkins bought 2,500 shares of the business's stock in a transaction on Wednesday, April 9th. The stock was purchased at an average cost of $20.13 per share, for a total transaction of $50,325.00. Following the completion of the purchase, the director now directly owns 183,171 shares of the company's stock, valued at approximately $3,687,232.23. This trade represents a 1.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 20.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. TD Cowen began coverage on shares of Palvella Therapeutics in a research report on Wednesday, February 5th. They issued a "buy" rating and a $44.00 price objective for the company. Jones Trading began coverage on Palvella Therapeutics in a report on Tuesday, March 25th. They issued a "buy" rating and a $45.00 price target for the company. Canaccord Genuity Group cut their price objective on Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating on the stock in a report on Friday. Chardan Capital began coverage on Palvella Therapeutics in a research report on Wednesday, April 9th. They issued a "buy" rating and a $50.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on shares of Palvella Therapeutics in a report on Wednesday, March 26th. They set a "buy" rating and a $45.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $46.29.

Palvella Therapeutics Profile

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.