Canaccord Genuity Group Reaffirms “Buy” Rating for Palvella Therapeutics (NASDAQ:PVLA)

Canaccord Genuity Group reissued their buy rating on shares of Palvella Therapeutics (NASDAQ:PVLA) in a report issued on Wednesday,Benzinga reports. The brokerage currently has a $39.00 price objective on the stock.

PVLA has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of Palvella Therapeutics in a research report on Tuesday, February 11th. TD Cowen started coverage on shares of Palvella Therapeutics in a research report on Wednesday, February 5th. They issued a “buy” rating and a $44.00 target price for the company. Finally, Cantor Fitzgerald started coverage on shares of Palvella Therapeutics in a research report on Wednesday, December 18th. They issued an “overweight” rating for the company.

Palvella Therapeutics Stock Down 2.6 %

Shares of PVLA opened at $18.80 on Wednesday. The stock has a market cap of $210.95 million, a PE ratio of -1.55 and a beta of 0.68. The firm’s fifty day moving average price is $14.62. Palvella Therapeutics has a twelve month low of $6.20 and a twelve month high of $22.32.

Insider Transactions at Palvella Therapeutics

In other Palvella Therapeutics news, Director George M. Jenkins purchased 4,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was bought 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. The trade was a 2.26 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.39% of the company’s stock.

Institutional Inflows and Outflows

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