Canaccord Genuity Group reaffirmed their buy rating on shares of Palvella Therapeutics (NASDAQ:PVLA - Free Report) in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a $39.00 price objective on the stock.
A number of other equities analysts also recently weighed in on PVLA. HC Wainwright reissued a "buy" rating and set a $38.00 price target on shares of Palvella Therapeutics in a research report on Tuesday, February 11th. Cantor Fitzgerald began coverage on Palvella Therapeutics in a research report on Wednesday, December 18th. They set an "overweight" rating on the stock. Finally, TD Cowen began coverage on Palvella Therapeutics in a research report on Wednesday, February 5th. They set a "buy" rating and a $44.00 price target on the stock.
Check Out Our Latest Report on PVLA
Palvella Therapeutics Trading Up 2.8 %
PVLA traded up $0.52 on Wednesday, hitting $19.37. 13,766 shares of the company were exchanged, compared to its average volume of 46,991. The company has a fifty day moving average price of $14.91. The company has a market cap of $217.35 million, a P/E ratio of -1.60 and a beta of 0.68. Palvella Therapeutics has a 12 month low of $6.20 and a 12 month high of $22.32.
Insider Activity
In other news, Director George M. Jenkins bought 4,000 shares of the firm's stock in a transaction dated Wednesday, December 18th. The shares were bought at an average price of $12.93 per share, with a total value of $51,720.00. Following the completion of the transaction, the director now owns 180,671 shares of the company's stock, valued at $2,336,076.03. This trade represents a 2.26 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.39% of the stock is owned by company insiders.
Institutional Investors Weigh In On Palvella Therapeutics
Large investors have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. acquired a new stake in Palvella Therapeutics during the fourth quarter worth approximately $7,847,000. Cresset Asset Management LLC acquired a new stake in Palvella Therapeutics during the fourth quarter worth approximately $251,000. Suvretta Capital Management LLC acquired a new stake in Palvella Therapeutics during the fourth quarter worth approximately $8,574,000. DAFNA Capital Management LLC acquired a new stake in Palvella Therapeutics during the fourth quarter worth approximately $857,000. Finally, Renaissance Technologies LLC acquired a new stake in Palvella Therapeutics during the fourth quarter worth approximately $256,000. Institutional investors and hedge funds own 40.11% of the company's stock.
About Palvella Therapeutics
(
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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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