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

Canaccord Genuity Group restated their buy rating on shares of Palvella Therapeutics (NASDAQ:PVLA) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $39.00 target price on the stock.

A number of other brokerages have also issued reports on PVLA. HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of Palvella Therapeutics in a research note on Tuesday, February 11th. Cantor Fitzgerald assumed coverage on Palvella Therapeutics in a research note on Wednesday, December 18th. They set an “overweight” rating for the company. Finally, TD Cowen assumed coverage on Palvella Therapeutics in a research note on Wednesday, February 5th. They set a “buy” rating and a $44.00 price target for the company.

Palvella Therapeutics Price Performance

Shares of PVLA stock opened at $19.37 on Wednesday. Palvella Therapeutics has a 52-week low of $6.20 and a 52-week high of $22.32. The company has a market cap of $217.35 million, a price-to-earnings ratio of -1.60 and a beta of 0.68. The business’s 50 day simple moving average is $14.76.

Insider Buying and Selling at Palvella Therapeutics

In other news, Director George M. Jenkins bought 4,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of $12.93 per share, with a total value of $51,720.00. Following the transaction, the director now directly owns 180,671 shares in the company, valued at approximately $2,336,076.03. This trade represents a 2.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palvella Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of PVLA. Suvretta Capital Management LLC bought a new stake in Palvella Therapeutics during the 4th quarter valued at $8,574,000. BVF Inc. IL bought a new position in shares of Palvella Therapeutics in the 4th quarter worth $8,359,000. Samsara BioCapital LLC bought a new position in shares of Palvella Therapeutics in the 4th quarter worth $8,154,000. Frazier Life Sciences Management L.P. bought a new position in shares of Palvella Therapeutics in the 4th quarter worth $7,847,000. Finally, Adams Street Partners LLC bought a new position in shares of Palvella Therapeutics in the 4th quarter worth $4,916,000. 40.11% of the stock is owned by institutional investors.

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.