Renaissance Technologies LLC Sells 4,560 Shares of Palvella Therapeutics, Inc. $PVLA

Renaissance Technologies LLC decreased its holdings in shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA) by 20.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,970 shares of the company’s stock after selling 4,560 shares during the quarter. Renaissance Technologies LLC’s holdings in Palvella Therapeutics were worth $2,240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PVLA. KBC Group NV acquired a new position in Palvella Therapeutics in the first quarter valued at approximately $28,000. Group One Trading LLC grew its holdings in Palvella Therapeutics by 151.5% during the 4th quarter. Group One Trading LLC now owns 332 shares of the company’s stock worth $35,000 after acquiring an additional 200 shares during the period. Russell Investments Group Ltd. acquired a new stake in Palvella Therapeutics during the 3rd quarter worth $36,000. JPMorgan Chase & Co. raised its position in shares of Palvella Therapeutics by 108,066.7% during the 2nd 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. bought a new stake in shares of Palvella Therapeutics during the 2nd quarter valued at $85,000. 40.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PVLA has been the topic of several recent research reports. Stephens restated an “overweight” rating and issued a $220.00 price target on shares of Palvella Therapeutics in a research report on Thursday, May 21st. Truist Financial set a $207.00 price objective on Palvella Therapeutics in a report on Wednesday, August 5th. Chardan Capital raised Palvella Therapeutics to a “strong-buy” rating in a research note on Tuesday, July 28th. HC Wainwright restated a “buy” rating and set a $270.00 target price on shares of Palvella Therapeutics in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Palvella Therapeutics has a consensus rating of “Buy” and a consensus target price of $209.14.

Palvella Therapeutics Trading Down 3.5%

NASDAQ:PVLA opened at $152.22 on Tuesday. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -31.52 and a beta of -0.17. The stock has a 50-day moving average price of $134.55 and a two-hundred day moving average price of $120.54. Palvella Therapeutics, Inc. has a 1 year low of $40.22 and a 1 year 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.35). Sell-side analysts forecast that Palvella Therapeutics, Inc. will post -6.36 earnings per share for the current year.

Insider Buying and Selling at Palvella Therapeutics

In other news, COO Kathleen Goin sold 4,302 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $110.73, for a total value of $476,360.46. Following the completion of the transaction, the chief operating officer owned 2,154 shares in the company, valued at $238,512.42. This represents a 66.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.20% of the stock is owned by company insiders.

Palvella Therapeutics Profile

Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical‐stage biopharmaceutical company devoted to the discovery and development of innovative therapies for immunological and inflammatory diseases. The company employs a proprietary small‐molecule and biologics platform to identify and modulate key molecular pathways that drive neutrophil‐ and complement‐mediated inflammation, aiming to deliver targeted treatment options for patients with significant unmet medical needs.

Palvella’s pipeline comprises several preclinical assets designed to address both prevalent chronic inflammatory conditions and rare autoinflammatory syndromes.