Palvella Therapeutics (NASDAQ:PVLA) Stock: Insider George Jenkins Sells 13,152 Shares

Palvella Therapeutics, Inc. (NASDAQ:PVLA) Director George Jenkins sold 13,152 shares of Palvella Therapeutics stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $133.69, for a total transaction of $1,758,290.88. Following the transaction, the director directly owned 146,964 shares of the company’s stock, valued at approximately $19,647,617.16. This trade represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Price Performance

Shares of NASDAQ PVLA traded down $5.93 on Wednesday, reaching $122.58. 382,261 shares of the company’s stock traded hands, compared to its average volume of 237,043. The business’s 50 day simple moving average is $146.74 and its two-hundred day simple moving average is $134.32. Palvella Therapeutics, Inc. has a 12 month low of $68.96 and a 12 month high of $161.38.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on PVLA. HC Wainwright cut their price target on shares of Palvella Therapeutics from $270.00 to $246.00 and set a “buy” rating on the stock in a report on Monday. Truist Financial set a $207.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, August 5th. Canaccord Genuity Group set a $232.00 price objective on Palvella Therapeutics in a research report on Wednesday, August 5th. Chardan Capital assumed coverage on Palvella Therapeutics in a research note on Monday, September 21st. They set a “buy” rating and a $240.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Palvella Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.43.

Institutional Trading of Palvella Therapeutics

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Palvella Therapeutics during the second quarter valued at approximately $140,343,000. First Light Asset Management LLC grew its position in shares of Palvella Therapeutics by 38.3% during the 1st quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock valued at $122,251,000 after acquiring an additional 271,617 shares during the period. Jennison Associates LLC grew its position in shares of Palvella Therapeutics by 65.3% during the 1st quarter. Jennison Associates LLC now owns 640,611 shares of the company’s stock valued at $79,852,000 after acquiring an additional 253,128 shares during the period. Summit Partners Public Asset Management LLC raised its holdings in Palvella Therapeutics by 1,016.0% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 389,420 shares of the company’s stock worth $40,761,000 after purchasing an additional 354,525 shares during the period. Finally, Primecap Management Co. CA purchased a new stake in Palvella Therapeutics in the second quarter worth about $39,150,000. 40.11% of the stock is currently owned by institutional investors.

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.