Scotiabank Initiates Coverage on Palvella Therapeutics (NASDAQ:PVLA)

Scotiabank began coverage on shares of Palvella Therapeutics (NASDAQ:PVLA - Free Report) in a report released on Friday morning, MarketBeat reports. The brokerage issued a sector outperform rating and a $50.00 price objective on the stock.

PVLA has been the subject of a number of other research reports. TD Cowen assumed coverage on Palvella Therapeutics in a research report on Wednesday, February 5th. They issued a "buy" rating and a $44.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and issued a $38.00 price objective on shares of Palvella Therapeutics in a research report on Tuesday, February 11th. Canaccord Genuity Group reissued a "buy" rating and set a $39.00 price target on shares of Palvella Therapeutics in a research report on Wednesday, February 26th. Finally, Cantor Fitzgerald initiated coverage on Palvella Therapeutics in a research report on Wednesday, December 18th. They set an "overweight" rating for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Palvella Therapeutics has an average rating of "Buy" and an average price target of $42.75.

Palvella Therapeutics Stock Performance

Shares of NASDAQ:PVLA traded up $0.61 during midday trading on Friday, reaching $24.55. The company's stock had a trading volume of 66,591 shares, compared to its average volume of 48,804. The firm has a market cap of $275.48 million, a price-to-earnings ratio of -2.03 and a beta of 0.54. Palvella Therapeutics has a 1 year low of $6.20 and a 1 year high of $25.22. The company's 50 day moving average is $15.94.

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Insider Buying and Selling at Palvella Therapeutics

In related news, Director George M. Jenkins bought 4,000 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was 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 directly owns 180,671 shares of the company's stock, valued at approximately $2,336,076.03. This represents a 2.26 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palvella Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of PVLA. Citadel Advisors LLC purchased a new stake in shares of Palvella Therapeutics in the fourth quarter worth about $125,000. Toronto Dominion Bank purchased a new stake in shares of Palvella Therapeutics in the fourth quarter worth about $159,000. Geode Capital Management LLC purchased a new stake in shares of Palvella Therapeutics in the fourth quarter worth about $171,000. Cresset Asset Management LLC purchased a new stake in shares of Palvella Therapeutics in the fourth quarter worth about $251,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Palvella Therapeutics in the fourth quarter worth about $256,000. Hedge funds and other 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 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.