Palvella Therapeutics (NASDAQ:PVLA) Upgraded at Chardan Capital

Chardan Capital upgraded shares of Palvella Therapeutics (NASDAQ:PVLA) to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $270.00 price objective on shares of Palvella Therapeutics in a research note on Wednesday, July 22nd. Wall Street Zen downgraded shares of Palvella Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Monday, June 29th. Finally, Stephens restated an “overweight” rating and set a $220.00 price target on shares of Palvella Therapeutics in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $199.53.

Palvella Therapeutics Stock Performance

Shares of NASDAQ PVLA opened at $150.19 on Tuesday. The business’s 50-day simple moving average is $129.69 and its 200-day simple moving average is $118.14. Palvella Therapeutics has a 52 week low of $34.57 and a 52 week high of $161.38. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -36.02 and a beta of -0.20.

Palvella Therapeutics (NASDAQ:PVLA) last posted its earnings results on Thursday, May 7th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.30). As a group, equities research analysts forecast that Palvella Therapeutics will post -5.26 earnings per share for the current year.

Insider Buying and Selling at Palvella Therapeutics

In other news, COO Kathleen Goin sold 4,302 shares of Palvella Therapeutics stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $110.73, for a total transaction of $476,360.46. Following the sale, the chief operating officer directly owned 2,154 shares in the company, valued at approximately $238,512.42. The trade was a 66.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PVLA. Avidity Partners Management LP lifted its stake in Palvella Therapeutics by 262.7% during the first quarter. Avidity Partners Management LP now owns 70,000 shares of the company’s stock worth $8,726,000 after purchasing an additional 50,700 shares during the period. Arete Wealth Advisors LLC bought a new stake in shares of Palvella Therapeutics in the 1st quarter valued at approximately $2,178,000. Bank of America Corp DE grew its stake in shares of Palvella Therapeutics by 25.4% in the 1st quarter. Bank of America Corp DE now owns 37,972 shares of the company’s stock valued at $4,733,000 after purchasing an additional 7,700 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Palvella Therapeutics by 688.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 17,907 shares of the company’s stock worth $2,232,000 after buying an additional 15,637 shares in the last quarter. Finally, First Light Asset Management LLC raised its holdings in shares of Palvella Therapeutics by 38.3% in the 1st quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock worth $122,251,000 after buying an additional 271,617 shares in the last quarter. Institutional investors and hedge funds own 40.11% of the company’s stock.

About Palvella Therapeutics

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.