Suvretta Capital Management LLC bought a new stake in Palvella Therapeutics (NASDAQ:PVLA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 714,463 shares of the company's stock, valued at approximately $8,574,000. Suvretta Capital Management LLC owned approximately 6.37% of Palvella Therapeutics at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in PVLA. BVF Inc. IL acquired a new stake in shares of Palvella Therapeutics in the fourth quarter valued at approximately $8,359,000. Samsara BioCapital LLC acquired a new stake in shares of Palvella Therapeutics in the fourth quarter valued at $8,154,000. Adams Street Partners LLC acquired a new stake in shares of Palvella Therapeutics in the fourth quarter valued at $4,916,000. Nantahala Capital Management LLC acquired a new stake in shares of Palvella Therapeutics in the fourth quarter valued at $3,001,000. Finally, Blue Owl Capital Holdings LP purchased a new position in Palvella Therapeutics in the fourth quarter valued at $3,001,000. Hedge funds and other institutional investors own 40.11% of the company's stock.
Insiders Place Their Bets
In other Palvella Therapeutics news, Director George M. Jenkins purchased 2,500 shares of Palvella Therapeutics stock in a transaction on Wednesday, April 9th. The shares were bought at an average price 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. This trade represents a 1.38% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 20.50% of the company's stock.
Analyst Ratings Changes
A number of research firms recently issued reports on PVLA. Scotiabank initiated coverage on Palvella Therapeutics in a report on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 target price for the company. Jones Trading assumed coverage on Palvella Therapeutics in a research report on Tuesday, March 25th. They set a "buy" rating and a $45.00 target price on the stock. Stifel Nicolaus assumed coverage on Palvella Therapeutics in a research report on Wednesday, March 26th. They issued a "buy" rating and a $45.00 price target on the stock. Chardan Capital initiated coverage on Palvella Therapeutics in a research report on Wednesday, April 9th. They issued a "buy" rating and a $50.00 price target on the stock. Finally, Canaccord Genuity Group dropped their target price on Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $46.29.
View Our Latest Stock Report on PVLA
Palvella Therapeutics Stock Performance
Shares of NASDAQ:PVLA traded down $0.04 during trading on Thursday, hitting $22.96. 12,745 shares of the stock were exchanged, compared to its average volume of 67,721. The company has a fifty day simple moving average of $24.31. The company has a market capitalization of $253.55 million, a P/E ratio of -1.90 and a beta of 0.10. Palvella Therapeutics has a 12-month low of $6.20 and a 12-month high of $29.27.
Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.40) by $2.66. As a group, research analysts predict that Palvella Therapeutics will post -3.69 EPS for the current year.
Palvella Therapeutics Profile
(
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.
Featured Stories
Before you consider Palvella Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Palvella Therapeutics wasn't on the list.
While Palvella Therapeutics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
