Palvella Therapeutics (NASDAQ:PVLA) Stock Price Up 6.4% – Should You Buy?

Palvella Therapeutics, Inc. (NASDAQ:PVLA)’s stock price rose 6.4% during mid-day trading on Wednesday. The company traded as high as $140.21 and last traded at $141.3590. Approximately 45,383 shares changed hands during trading, a decline of 82% from the average daily volume of 257,533 shares. The stock had previously closed at $132.91.

Analysts Set New Price Targets

Several brokerages recently issued reports on PVLA. Truist Financial set a $207.00 target price on Palvella Therapeutics in a research note on Wednesday, August 5th. Raymond James Financial set a $226.00 price target on shares of Palvella Therapeutics in a research note on Friday, October 16th. Chardan Capital reiterated a “buy” rating and set a $240.00 price objective on shares of Palvella Therapeutics in a report on Wednesday. William Blair assumed coverage on shares of Palvella Therapeutics in a research report on Friday, October 16th. They issued an “outperform” rating on the stock. Finally, Canaccord Genuity Group set a $232.00 price objective on Palvella Therapeutics in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $209.79.

Palvella Therapeutics Trading Up 2.8%

The business’s fifty day moving average is $141.40 and its 200 day moving average is $126.47.

Palvella Therapeutics (NASDAQ:PVLA) last announced its earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.35). As a group, analysts forecast that Palvella Therapeutics, Inc. will post -6.41 EPS for the current year.

Insider Transactions at Palvella Therapeutics

In related news, Director Christopher Kiritsy sold 313 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $157.00, for a total value of $49,141.00. Following the sale, the director owned 250 shares of the company’s stock, valued at $39,250. This trade represents a 55.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kathleen Goin sold 4,313 shares of the firm’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $124.58, for a total transaction of $537,313.54. Following the transaction, the chief operating officer directly owned 2,165 shares in the company, valued at approximately $269,715.70. The trade was a 66.58% 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 sold 61,056 shares of company stock worth $8,756,946. Insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PVLA. KBC Group NV bought a new position in Palvella Therapeutics in the 1st quarter valued at $28,000. Northwestern Mutual Wealth Management Co. acquired a new position in Palvella Therapeutics during the 2nd quarter worth about $35,000. Sterling Capital Management LLC lifted its position in shares of Palvella Therapeutics by 907.7% during the third quarter. Sterling Capital Management LLC now owns 393 shares of the company’s stock worth $54,000 after purchasing an additional 354 shares in the last quarter. Archer Investment Corp bought a new position in Palvella Therapeutics in the 2nd quarter valued at $69,000. Finally, Quantbot Technologies LP acquired a new stake in Palvella Therapeutics in the second quarter worth about $71,000. Institutional investors and hedge funds own 40.11% of the company’s stock.

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical-stage biopharmaceutical company focused on developing treatments for patients with serious rare diseases, including conditions that may have limited or no approved therapeutic options.

The company’s development programs are based on its QTORIN 3.0 technology platform, which is designed to deliver medicines locally through topical formulations. Palvella has applied the platform to investigational therapies for rare genetic skin disorders and other localized diseases, with the goal of improving treatment effectiveness while limiting systemic exposure.

Palvella is headquartered in Wayne, Pennsylvania, and conducts research and development activities aimed at serving rare-disease patients in the United States and other potential international markets.