Palvella Therapeutics, Inc. $PVLA Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its holdings in Palvella Therapeutics, Inc. (NASDAQ:PVLA) by 60.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 5,176 shares of the company’s stock after selling 7,891 shares during the period. Squarepoint Ops LLC’s holdings in Palvella Therapeutics were worth $791,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PVLA. Arizona State Retirement System lifted its position in Palvella Therapeutics by 30.9% in the 2nd quarter. Arizona State Retirement System now owns 2,765 shares of the company’s stock valued at $423,000 after purchasing an additional 652 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Palvella Therapeutics during the second quarter worth approximately $35,000. Penn Capital Management Company LLC bought a new position in Palvella Therapeutics in the 2nd quarter worth approximately $841,000. Hsbc Holdings PLC bought a new position in Palvella Therapeutics in the 2nd quarter worth approximately $7,641,000. Finally, Wellington Management Group LLP increased its position in Palvella Therapeutics by 4.6% in the 2nd quarter. Wellington Management Group LLP now owns 35,594 shares of the company’s stock valued at $5,439,000 after acquiring an additional 1,554 shares during the period. 40.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PVLA has been the subject of a number of analyst reports. Chardan Capital upgraded Palvella Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 28th. Canaccord Genuity Group set a $232.00 price objective on shares of Palvella Therapeutics in a research note on Wednesday, August 5th. HC Wainwright reaffirmed a “buy” rating and issued a $270.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, July 22nd. Truist Financial set a $207.00 target price on shares of Palvella Therapeutics in a research report on Wednesday, August 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $209.14.

Palvella Therapeutics Price Performance

PVLA stock opened at $150.56 on Friday. The firm has a market capitalization of $2.17 billion, a P/E ratio of -31.17 and a beta of -0.25. Palvella Therapeutics, Inc. has a 52-week low of $56.22 and a 52-week high of $161.38. The company’s 50 day simple moving average is $149.44 and its 200-day simple moving average is $132.90.

Palvella Therapeutics (NASDAQ:PVLA) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.35). Sell-side analysts predict that Palvella Therapeutics, Inc. will post -6.36 EPS for the current fiscal year.

Insider Activity

In other Palvella Therapeutics news, COO Kathleen Goin sold 4,302 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $152.21, for a total transaction of $654,807.42. Following the completion of the sale, the chief operating officer directly owned 2,154 shares in the company, valued at approximately $327,860.34. This trade represents a 66.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George M. Jenkins sold 13,352 shares of Palvella Therapeutics stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $151.96, for a total value of $2,028,969.92. Following the transaction, the director directly owned 161,893 shares in the company, valued at approximately $24,601,260.28. This trade represents a 7.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 36,417 shares of company stock worth $5,526,138. 17.20% of the stock is owned by corporate insiders.

Palvella Therapeutics Profile

Palvella Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for patients with rare genetic and dermatologic diseases. The company uses its proprietary QTORIN platform to formulate and deliver medicines locally to affected tissues, with the goal of improving treatment effectiveness while limiting systemic exposure.

Palvella’s lead program is QTORIN 3.9% rapamycin, an investigational topical gel being developed for microcystic lymphatic malformations, rare lesions caused by abnormalities in the lymphatic system.