ADAR1 Capital Management LLC Makes New Investment in Palvella Therapeutics (NASDAQ:PVLA)

ADAR1 Capital Management LLC purchased a new stake in shares of Palvella Therapeutics (NASDAQ:PVLA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 144,641 shares of the company's stock, valued at approximately $1,736,000. ADAR1 Capital Management LLC owned approximately 1.29% of Palvella Therapeutics at the end of the most recent quarter.

Separately, Geode Capital Management LLC purchased a new stake in shares of Palvella Therapeutics during the fourth quarter valued at $171,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Palvella Therapeutics Price Performance

Palvella Therapeutics stock traded up $1.89 during mid-day trading on Friday, hitting $21.76. The company had a trading volume of 45,786 shares, compared to its average volume of 66,216. The stock has a market cap of $239.77 million, a P/E ratio of -1.80 and a beta of 0.10. The firm's fifty day moving average is $22.57. Palvella Therapeutics has a 12-month low of $6.20 and a 12-month high of $29.27.

Insider Activity at Palvella Therapeutics

In other Palvella Therapeutics news, Director George M. Jenkins purchased 2,500 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average price of $20.13 per share, for a total transaction of $50,325.00. Following the purchase, the director now directly owns 183,171 shares in the company, valued at approximately $3,687,232.23. This trade represents a 1.38 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.39% of the company's stock.

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Analyst Ratings Changes

A number of analysts have commented on the company. Cantor Fitzgerald initiated coverage on Palvella Therapeutics in a research report on Wednesday, December 18th. They set an "overweight" rating for the company. TD Cowen started coverage on Palvella Therapeutics in a report on Wednesday, February 5th. They set a "buy" rating and a $44.00 target price for the company. Jones Trading started coverage on shares of Palvella Therapeutics in a report on Tuesday, March 25th. They issued a "buy" rating and a $45.00 price target on the stock. Chardan Capital initiated coverage on shares of Palvella Therapeutics in a research note on Wednesday. They set a "buy" rating and a $50.00 price objective for the company. Finally, Scotiabank assumed coverage on shares of Palvella Therapeutics in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Palvella Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $44.43.

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.