Palvella Therapeutics (NASDAQ:PVLA) Earns “Buy” Rating from Canaccord Genuity Group

Palvella Therapeutics (NASDAQ:PVLA)‘s stock had its “buy” rating restated by stock analysts at Canaccord Genuity Group in a report issued on Wednesday,Benzinga reports. They currently have a $39.00 price target on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 107.45% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price on shares of Palvella Therapeutics in a research note on Tuesday, February 11th. TD Cowen initiated coverage on shares of Palvella Therapeutics in a report on Wednesday, February 5th. They issued a “buy” rating and a $44.00 target price on the stock. Finally, Cantor Fitzgerald initiated coverage on Palvella Therapeutics in a research report on Wednesday, December 18th. They set an “overweight” rating for the company.

Palvella Therapeutics Stock Performance

Palvella Therapeutics stock traded down $0.51 during midday trading on Wednesday, reaching $18.80. 7,884 shares of the stock traded hands, compared to its average volume of 48,391. The firm has a market capitalization of $210.95 million, a price-to-earnings ratio of -1.55 and a beta of 0.68. The business has a 50-day simple moving average of $14.48. Palvella Therapeutics has a 12-month low of $6.20 and a 12-month high of $22.32.

Insider Transactions at Palvella Therapeutics

In other Palvella Therapeutics news, Director George M. Jenkins bought 4,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of $12.93 per share, for a total transaction of $51,720.00. Following the completion of the transaction, the director now owns 180,671 shares in the company, valued at approximately $2,336,076.03. The trade was a 2.26 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.39% of the company’s stock.

Hedge Funds Weigh In On Palvella Therapeutics

Several institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank acquired a new position in shares of Palvella Therapeutics during the fourth quarter worth about $159,000. Frazier Life Sciences Management L.P. acquired a new position in Palvella Therapeutics during the 4th quarter worth approximately $7,847,000. Suvretta Capital Management LLC acquired a new position in Palvella Therapeutics during the 4th quarter worth approximately $8,574,000. DAFNA Capital Management LLC acquired a new stake in shares of Palvella Therapeutics in the 4th quarter valued at approximately $857,000. Finally, Cresset Asset Management LLC acquired a new stake in shares of Palvella Therapeutics in the 4th quarter valued at approximately $251,000. 40.11% of the stock is owned by institutional investors and hedge funds.

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.