Insider Selling: Palvella Therapeutics (NASDAQ:PVLA) Director Sells $266,798.78 in Stock

Palvella Therapeutics, Inc. (NASDAQ:PVLA) Director George Jenkins sold 1,777 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $150.14, for a total transaction of $266,798.78. Following the completion of the transaction, the director owned 160,116 shares in the company, valued at $24,039,816.24. The trade was a 1.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Stock Up 1.9%

PVLA opened at $154.32 on Friday. Palvella Therapeutics, Inc. has a 52-week low of $56.22 and a 52-week high of $161.38. The company has a 50 day moving average of $149.32 and a two-hundred day moving average of $132.77. The company has a market cap of $2.22 billion, a P/E ratio of -31.95 and a beta of -0.25.

Palvella Therapeutics (NASDAQ:PVLA) last issued its 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). Research analysts anticipate that Palvella Therapeutics, Inc. will post -6.36 earnings per share for the current year.

Wall Street Analyst Weigh In

PVLA has been the topic of several recent analyst reports. Chardan Capital upgraded Palvella Therapeutics to a “strong-buy” rating in a research note on Tuesday, July 28th. Canaccord Genuity Group set a $232.00 price objective on Palvella Therapeutics in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Monday, June 29th. HC Wainwright reiterated a “buy” rating and set a $270.00 target price on shares of Palvella Therapeutics in a research note on Wednesday, July 22nd. Finally, Stephens reissued an “overweight” rating and set a $220.00 price target on shares of Palvella Therapeutics in a research report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $209.14.

Hedge Funds Weigh In On Palvella Therapeutics

Several large investors have recently modified their holdings of PVLA. BlackRock Inc. bought a new stake in shares of Palvella Therapeutics in the 2nd quarter valued at approximately $140,343,000. Summit Partners Public Asset Management LLC lifted its stake in Palvella Therapeutics by 1,016.0% during the fourth 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 last quarter. First Light Asset Management LLC lifted its stake in Palvella Therapeutics by 38.3% during the first quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock worth $122,251,000 after purchasing an additional 271,617 shares during the last quarter. Primecap Management Co. CA bought a new position in Palvella Therapeutics during the second quarter worth $39,150,000. Finally, Jennison Associates LLC boosted its holdings in Palvella Therapeutics by 65.3% in the first 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 period. Institutional investors own 40.11% of the company’s stock.

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for patients with rare genetic and dermatologic diseases. The company uses its proprietary QTORIN platform to formulate and deliver medicines locally to affected tissues, with the goal of improving treatment effectiveness while limiting systemic exposure.

Palvella’s lead program is QTORIN 3.9% rapamycin, an investigational topical gel being developed for microcystic lymphatic malformations, rare lesions caused by abnormalities in the lymphatic system.