Palvella Therapeutics (NASDAQ:PVLA) Shares Gap Down Following Weak Earnings

Shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $80.29, but opened at $76.11. Palvella Therapeutics shares last traded at $77.12, with a volume of 32,241 shares traded.

The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.18).

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Cantor Fitzgerald boosted their price objective on shares of Palvella Therapeutics from $120.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Palvella Therapeutics in a report on Wednesday, October 8th. Raymond James Financial set a $54.00 price target on shares of Palvella Therapeutics and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Lifesci Capital began coverage on Palvella Therapeutics in a report on Monday, August 4th. They set an “outperform” rating and a $90.00 price objective for the company. Finally, TD Cowen boosted their target price on Palvella Therapeutics from $65.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $99.67.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PVLA. Frazier Life Sciences Management L.P. raised its stake in shares of Palvella Therapeutics by 4.7% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 722,400 shares of the company’s stock valued at $16,283,000 after acquiring an additional 32,388 shares in the last quarter. Vanguard Group Inc. grew its holdings in Palvella Therapeutics by 202.0% during the third quarter. Vanguard Group Inc. now owns 494,656 shares of the company’s stock valued at $31,010,000 after purchasing an additional 330,847 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Palvella Therapeutics in the third quarter valued at approximately $21,255,000. Millennium Management LLC acquired a new stake in shares of Palvella Therapeutics in the first quarter worth $7,553,000. Finally, Woodline Partners LP bought a new stake in shares of Palvella Therapeutics during the 1st quarter worth $5,435,000. Institutional investors and hedge funds own 40.11% of the company’s stock.

Palvella Therapeutics Trading Down 5.8%

The company’s fifty day moving average is $66.65 and its 200-day moving average is $43.36. The firm has a market capitalization of $836.36 million, a P/E ratio of -19.95 and a beta of -0.05.

About Palvella Therapeutics

Palvella Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases. Palvella Therapeutics Inc, formerly known as Pieris Pharmaceuticals Inc, is based in WAYNE, Pa.