Palvella Therapeutics (NASDAQ:PVLA) Sets New 52-Week High – Here’s What Happened

Palvella Therapeutics, Inc. (NASDAQ:PVLA) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $112.00 and last traded at $107.55, with a volume of 60351 shares changing hands. The stock had previously closed at $96.78.

Analysts Set New Price Targets

PVLA has been the topic of several recent research reports. Canaccord Genuity Group lifted their target price on shares of Palvella Therapeutics from $90.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Craig Hallum initiated coverage on Palvella Therapeutics in a report on Thursday, December 4th. They set a “buy” rating and a $175.00 target price on the stock. TD Cowen raised their price objective on Palvella Therapeutics from $65.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Cantor Fitzgerald upped their target price on Palvella Therapeutics from $120.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, Stifel Nicolaus increased their target price on shares of Palvella Therapeutics from $87.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Palvella Therapeutics has an average rating of “Buy” and an average price target of $125.00.

Palvella Therapeutics Stock Performance

The stock has a market capitalization of $1.06 billion, a P/E ratio of -34.17 and a beta of -0.20. The business has a fifty day simple moving average of $83.40 and a 200-day simple moving average of $55.17.

Palvella Therapeutics (NASDAQ:PVLA) last released its earnings results on Monday, November 10th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.18). On average, sell-side analysts anticipate that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current year.

Insider Activity at Palvella Therapeutics

In other news, COO Kathleen Goin sold 4,302 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $86.23, for a total value of $370,961.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 20.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palvella Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Archer Investment Corp bought a new position in Palvella Therapeutics in the 3rd quarter valued at about $28,000. Bank of America Corp DE grew its holdings in Palvella Therapeutics by 12.3% during the third quarter. Bank of America Corp DE now owns 4,689 shares of the company’s stock worth $294,000 after buying an additional 515 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Palvella Therapeutics during the third quarter worth $36,000. JPMorgan Chase & Co. raised its position in Palvella Therapeutics by 33.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,338 shares of the company’s stock valued at $272,000 after buying an additional 1,093 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in Palvella Therapeutics during the 2nd quarter valued at $37,000. 40.11% of the stock is owned by institutional investors.

Palvella Therapeutics Company 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.