Palvella Therapeutics (NASDAQ:PVLA) Trading 7.9% Higher – Here’s Why

Palvella Therapeutics, Inc. (NASDAQ:PVLA) traded up 7.9% during trading on Monday . The stock traded as high as $101.69 and last traded at $101.52. 26,123 shares traded hands during trading, a decline of 79% from the average session volume of 122,218 shares. The stock had previously closed at $94.09.

Analyst Upgrades and Downgrades

PVLA has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Wednesday, October 8th. Raymond James Financial upgraded shares of Palvella Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $92.00 to $143.00 in a research report on Wednesday, November 19th. HC Wainwright increased their target price on shares of Palvella Therapeutics from $95.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Canaccord Genuity Group raised their price target on shares of Palvella Therapeutics from $90.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, TD Cowen upped their price objective on shares of Palvella Therapeutics from $65.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $117.33.

Palvella Therapeutics Stock Up 8.8%

The stock has a market capitalization of $1.21 billion, a P/E ratio of -38.93 and a beta of -0.05. The business’s 50 day simple moving average is $72.01 and its two-hundred day simple moving average is $47.28.

Palvella Therapeutics (NASDAQ:PVLA) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.18). Analysts predict that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current year.

Insider Activity

In other news, COO Kathleen Goin sold 4,302 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $86.23, for a total transaction of $370,961.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 20.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palvella Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PVLA. Archer Investment Corp bought a new position in Palvella Therapeutics during the third quarter worth about $28,000. Russell Investments Group Ltd. bought a new stake in Palvella Therapeutics in the 3rd quarter worth approximately $36,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Palvella Therapeutics in the second quarter worth approximately $37,000. JPMorgan Chase & Co. grew its position in Palvella Therapeutics by 108,066.7% during the second quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company’s stock valued at $73,000 after acquiring an additional 3,242 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Palvella Therapeutics during the second quarter worth approximately $85,000. 40.11% of the stock is currently owned by institutional investors.

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.