Summit Partners Public Asset Management LLC Raises Stake in Palvella Therapeutics, Inc. $PVLA

Summit Partners Public Asset Management LLC lifted its position in shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA) by 1,016.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 389,420 shares of the company’s stock after buying an additional 354,525 shares during the quarter. Summit Partners Public Asset Management LLC’s holdings in Palvella Therapeutics were worth $40,761,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Suvretta Capital Management LLC lifted its stake in shares of Palvella Therapeutics by 15.1% during the 3rd quarter. Suvretta Capital Management LLC now owns 822,400 shares of the company’s stock worth $51,556,000 after purchasing an additional 107,937 shares during the period. Vanguard Group Inc. lifted its stake in shares of Palvella Therapeutics by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 560,616 shares of the company’s stock worth $58,680,000 after purchasing an additional 65,960 shares during the period. First Light Asset Management LLC purchased a new position in shares of Palvella Therapeutics during the 3rd quarter worth $33,949,000. State Street Corp lifted its stake in shares of Palvella Therapeutics by 206.3% during the 4th quarter. State Street Corp now owns 420,462 shares of the company’s stock worth $44,010,000 after purchasing an additional 283,211 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Palvella Therapeutics by 262.4% during the 4th quarter. Jennison Associates LLC now owns 387,483 shares of the company’s stock worth $40,558,000 after purchasing an additional 280,573 shares during the period. 40.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen lowered Palvella Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Stifel Nicolaus set a $250.00 price target on Palvella Therapeutics in a research note on Tuesday, February 24th. BTIG Research increased their price target on Palvella Therapeutics from $192.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Chardan Capital reissued a “buy” rating and set a $240.00 price target on shares of Palvella Therapeutics in a research note on Thursday, May 21st. Finally, Truist Financial set a $210.00 price target on Palvella Therapeutics in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $199.53.

Palvella Therapeutics Stock Down 5.5%

PVLA stock opened at $110.12 on Wednesday. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -26.41 and a beta of -0.15. The business has a fifty day simple moving average of $119.12 and a 200-day simple moving average of $108.76. Palvella Therapeutics, Inc. has a 52 week low of $20.20 and a 52 week high of $151.18.

Palvella Therapeutics (NASDAQ:PVLA) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.30). As a group, analysts expect that Palvella Therapeutics, Inc. will post -5.26 earnings per share for the current fiscal year.

Palvella Therapeutics Profile

Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical‐stage biopharmaceutical company devoted to the discovery and development of innovative therapies for immunological and inflammatory diseases. The company employs a proprietary small‐molecule and biologics platform to identify and modulate key molecular pathways that drive neutrophil‐ and complement‐mediated inflammation, aiming to deliver targeted treatment options for patients with significant unmet medical needs.

Palvella’s pipeline comprises several preclinical assets designed to address both prevalent chronic inflammatory conditions and rare autoinflammatory syndromes.