Avidity Partners Management LP Makes New Investment in Palvella Therapeutics, Inc. $PVLA

Avidity Partners Management LP purchased a new position in Palvella Therapeutics, Inc. (NASDAQ:PVLA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,300 shares of the company’s stock, valued at approximately $2,020,000. Avidity Partners Management LP owned about 0.16% of Palvella Therapeutics as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PVLA. Aberdeen Group plc bought a new position in shares of Palvella Therapeutics during the third quarter valued at about $3,212,000. First Light Asset Management LLC bought a new position in shares of Palvella Therapeutics during the third quarter valued at about $33,949,000. Suvretta Capital Management LLC raised its stake in shares of Palvella Therapeutics by 15.1% during the third quarter. Suvretta Capital Management LLC now owns 822,400 shares of the company’s stock valued at $51,556,000 after acquiring an additional 107,937 shares during the last quarter. Apis Capital Advisors LLC bought a new position in shares of Palvella Therapeutics during the third quarter valued at about $627,000. Finally, Fred Alger Management LLC raised its stake in shares of Palvella Therapeutics by 1,279.1% during the third quarter. Fred Alger Management LLC now owns 186,751 shares of the company’s stock valued at $11,707,000 after acquiring an additional 173,209 shares during the last quarter. 40.11% of the stock is owned by institutional investors.

Insider Transactions at Palvella Therapeutics

In related news, COO Kathleen Goin sold 4,302 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $117.99, for a total value of $507,592.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on PVLA. Wall Street Zen downgraded shares of Palvella Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Chardan Capital reaffirmed a “buy” rating and set a $240.00 price objective on shares of Palvella Therapeutics in a research note on Thursday, May 21st. Truist Financial set a $210.00 price objective on shares of Palvella Therapeutics in a research note on Tuesday, February 24th. HC Wainwright upped their price objective on shares of Palvella Therapeutics from $255.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Finally, BTIG Research upped their price objective on shares of Palvella Therapeutics from $192.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $199.53.

Palvella Therapeutics Price Performance

PVLA stock opened at $108.81 on Friday. Palvella Therapeutics, Inc. has a 1 year low of $20.20 and a 1 year high of $151.18. The company has a market cap of $1.56 billion, a P/E ratio of -26.09 and a beta of -0.15. The firm has a 50-day moving average of $119.52 and a 200 day moving average of $108.46.

Palvella Therapeutics (NASDAQ:PVLA) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.30). On average, equities research analysts expect that Palvella Therapeutics, Inc. will post -5.26 earnings per share for the current fiscal year.

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical‐stage biopharmaceutical company devoted to the discovery and development of innovative therapies for immunological and inflammatory diseases. The company employs a proprietary small‐molecule and biologics platform to identify and modulate key molecular pathways that drive neutrophil‐ and complement‐mediated inflammation, aiming to deliver targeted treatment options for patients with significant unmet medical needs.

Palvella’s pipeline comprises several preclinical assets designed to address both prevalent chronic inflammatory conditions and rare autoinflammatory syndromes.