Canaccord Genuity Group Initiates Coverage on Palvella Therapeutics (NASDAQ:PVLA)

Investment analysts at Canaccord Genuity Group initiated coverage on shares of Palvella Therapeutics (NASDAQ:PVLA) in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $39.00 price target on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 102.91% from the stock’s current price.

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

Palvella Therapeutics Price Performance

NASDAQ:PVLA opened at $19.22 on Thursday. The stock has a market cap of $215.67 million, a PE ratio of -1.59 and a beta of 0.68. The business’s 50 day moving average is $14.27. Palvella Therapeutics has a fifty-two week low of $6.20 and a fifty-two week high of $22.32.

Insider Activity

In other Palvella Therapeutics news, Director George M. Jenkins bought 4,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average price of $12.93 per share, with a total value of $51,720.00. Following the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.39% of the company’s stock.

Institutional Investors Weigh In On Palvella Therapeutics

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

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.