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

Palvella Therapeutics (NASDAQ:PVLA)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity Group in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $39.00 price target on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 107.45% from the stock’s previous close.

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

Palvella Therapeutics Stock Performance

Shares of NASDAQ:PVLA traded down $0.51 during mid-day trading on Wednesday, hitting $18.80. 7,884 shares of the company traded hands, compared to its average volume of 48,391. 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 50-day moving average price is $14.48. Palvella Therapeutics has a 12-month low of $6.20 and a 12-month high of $22.32.

Insider Activity

In other news, Director George M. Jenkins bought 4,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now owns 180,671 shares of the company’s stock, valued at approximately $2,336,076.03. This represents a 2.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.39% of the company’s stock.

Institutional Investors Weigh In On Palvella Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new stake in shares of Palvella Therapeutics in the 4th quarter worth $125,000. Toronto Dominion Bank acquired a new position in shares of Palvella Therapeutics in the 4th quarter valued at $159,000. Geode Capital Management LLC purchased a new position in shares of Palvella Therapeutics in the 4th quarter valued at about $171,000. Cresset Asset Management LLC purchased a new stake in shares of Palvella Therapeutics during the fourth quarter worth about $251,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Palvella Therapeutics in the fourth quarter valued at about $256,000. 40.11% of the stock is owned by institutional investors.

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.