Insider Selling: Palvella Therapeutics (NASDAQ:PVLA) Insider Sells $1,043,625.00 in Stock

Palvella Therapeutics, Inc. (NASDAQ:PVLA) insider Jeffrey Martini sold 6,250 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $166.98, for a total value of $1,043,625.00. Following the sale, the insider owned 4,266 shares of the company’s stock, valued at $712,336.68. The trade was a 59.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Stock Down 6.6%

Shares of NASDAQ:PVLA traded down $10.76 during trading on Thursday, reaching $153.18. 282,743 shares of the company traded hands, compared to its average volume of 263,176. The firm has a fifty day simple moving average of $143.61 and a 200 day simple moving average of $129.30. Palvella Therapeutics, Inc. has a 1-year low of $72.22 and a 1-year high of $179.95. The firm has a market cap of $2.24 billion, a P/E ratio of -27.85 and a beta of -0.21.

Palvella Therapeutics (NASDAQ:PVLA) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($1.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.78) by $0.08. As a group, research analysts anticipate that Palvella Therapeutics, Inc. will post -6.26 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Palvella Therapeutics during the 2nd quarter valued at about $140,343,000. First Light Asset Management LLC raised its stake in shares of Palvella Therapeutics by 38.3% in 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 in the last quarter. Jennison Associates LLC lifted its holdings in Palvella Therapeutics by 65.3% in the 1st quarter. Jennison Associates LLC now owns 640,611 shares of the company’s stock worth $79,852,000 after purchasing an additional 253,128 shares during the last quarter. Primecap Management Co. CA acquired a new stake in Palvella Therapeutics in the 2nd quarter worth approximately $39,150,000. Finally, Siren L.L.C. raised its position in shares of Palvella Therapeutics by 243.3% in the first quarter. Siren L.L.C. now owns 257,485 shares of the company’s stock valued at $32,096,000 after purchasing an additional 182,485 shares during the period. Institutional investors and hedge funds own 40.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PVLA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Friday, September 25th. William Blair assumed coverage on shares of Palvella Therapeutics in a research note on Friday, October 16th. They set an “outperform” rating on the stock. Canaccord Genuity Group increased their price target on shares of Palvella Therapeutics from $232.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday. HC Wainwright began coverage on shares of Palvella Therapeutics in a report on Friday, November 6th. They set a “strong-buy” rating on the stock. Finally, Raymond James Financial set a $226.00 price objective on shares of Palvella Therapeutics in a research note on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Palvella Therapeutics has an average rating of “Buy” and a consensus target price of $213.85.

Palvella Therapeutics Company Profile

Palvella Therapeutics is a clinical-stage biopharmaceutical company developing treatments for patients with rare and serious diseases, with a focus on conditions affecting the skin and related tissues. The company is based in Wayne, Pennsylvania. Its pipeline includes QTORIN-based topical drug candidates, which use the company’s platform to deliver medicines locally to affected tissue. Programs are being developed for conditions including microcystic lymphatic malformations and cutaneous venous malformations; these candidates are investigational and have not been established as approved treatments.