HC Wainwright Has Lowered Expectations for Palvella Therapeutics (NASDAQ:PVLA) Stock Price

Palvella Therapeutics (NASDAQ:PVLA) had its price objective cut by equities researchers at HC Wainwright from $270.00 to $246.00 in a report issued on Monday, MarketBeat reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 91.42% from the company’s previous close.

A number of other research firms have also commented on PVLA. Truist Financial set a $207.00 price target on shares of Palvella Therapeutics in a research report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Friday, September 25th. Chardan Capital assumed coverage on shares of Palvella Therapeutics in a report on Monday, September 21st. They issued a “buy” rating and a $240.00 price objective for the company. Finally, Canaccord Genuity Group set a $232.00 target price on shares of Palvella Therapeutics in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $207.43.

Palvella Therapeutics Trading Down 4.4%

PVLA stock opened at $128.51 on Monday. The business’s fifty day moving average price is $147.39 and its two-hundred day moving average price is $134.28. Palvella Therapeutics has a fifty-two week low of $68.96 and a fifty-two week high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA) last posted its earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.35). Equities analysts predict that Palvella Therapeutics will post -6.40 EPS for the current fiscal year.

Insider Transactions at Palvella Therapeutics

In related news, Director George M. Jenkins sold 1,777 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $150.14, for a total value of $266,798.78. Following the completion of the transaction, the director owned 160,116 shares of the company’s stock, valued at $24,039,816.24. The trade was a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kathleen Goin sold 4,302 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $152.24, for a total value of $654,936.48. Following the completion of the transaction, the chief operating officer directly owned 2,154 shares of the company’s stock, valued at approximately $327,924.96. This trade represents a 66.64% 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. In the last three months, insiders have sold 36,417 shares of company stock valued at $5,526,138. 17.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palvella Therapeutics

Large investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in Palvella Therapeutics by 25.4% during the first quarter. Bank of America Corp DE now owns 37,972 shares of the company’s stock worth $4,733,000 after purchasing an additional 7,700 shares during the last quarter. The Manufacturers Life Insurance Company boosted 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 valued at $2,232,000 after purchasing an additional 15,637 shares in the last quarter. Blue Owl Capital Holdings LP acquired a new stake in shares of Palvella Therapeutics in the 2nd quarter valued at $5,541,000. Deutsche Bank AG acquired a new stake in shares of Palvella Therapeutics in the 2nd quarter valued at $1,809,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Palvella Therapeutics in the 1st quarter valued at $13,190,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for patients with rare and serious diseases. The company’s work centers on localized treatments intended to address conditions for which existing therapeutic options are limited.

Palvella’s lead investigational product is QTORIN 3.9%, a topical formulation of sirolimus designed to deliver the medicine directly to affected areas of the skin. The product is being developed for microcystic lymphatic malformations, rare vascular anomalies that can cause swelling, pain and disfigurement.