Equities researchers at Canaccord Genuity Group assumed coverage on shares of Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) in a research report issued on Thursday, MarketBeat.com reports. The firm set a "buy" rating and a $39.00 price target on the stock. Canaccord Genuity Group's price target suggests a potential upside of 95.00% from the company's current price.
Several other analysts also recently issued reports on PVLA. TD Cowen started coverage on shares of Palvella Therapeutics in a report on Wednesday, February 5th. They set a "buy" rating and a $44.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $38.00 price target on shares of Palvella Therapeutics in a report on Tuesday, February 11th. Finally, Cantor Fitzgerald initiated coverage on Palvella Therapeutics in a research report on Wednesday, December 18th. They issued an "overweight" rating on the stock.
Check Out Our Latest Report on Palvella Therapeutics
Palvella Therapeutics Stock Performance
PVLA traded up $0.78 on Thursday, hitting $20.00. The company had a trading volume of 52,365 shares, compared to its average volume of 49,822. Palvella Therapeutics has a 1-year low of $6.20 and a 1-year high of $22.32. The stock's fifty day simple moving average is $14.27. The company has a market capitalization of $224.40 million, a PE ratio of -1.65 and a beta of 0.68.
Insider Activity at Palvella Therapeutics
In related news, Director George M. Jenkins acquired 4,000 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were bought at an average price of $12.93 per share, for a total transaction of $51,720.00. Following the acquisition, the director now owns 180,671 shares in the company, valued at $2,336,076.03. This trade represents a 2.26 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.39% of the company's stock.
Institutional Investors Weigh In On Palvella Therapeutics
A number of institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank bought a new stake in shares of Palvella Therapeutics in the 4th quarter worth approximately $159,000. Frazier Life Sciences Management L.P. bought a new position in Palvella Therapeutics in the fourth quarter worth $7,847,000. Suvretta Capital Management LLC bought a new position in Palvella Therapeutics in the fourth quarter worth $8,574,000. DAFNA Capital Management LLC acquired a new stake in Palvella Therapeutics during the fourth quarter worth $857,000. Finally, Cresset Asset Management LLC bought a new stake in Palvella Therapeutics in the 4th quarter valued at $251,000. 40.11% of the stock is owned by institutional investors and hedge funds.
Palvella Therapeutics Company Profile
(
Get Free Report)
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.
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