Palvella Therapeutics (NASDAQ:PVLA) Shares Gap Down After Earnings Miss

Palvella Therapeutics, Inc. (NASDAQ:PVLA)’s stock price gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $80.29, but opened at $76.11. Palvella Therapeutics shares last traded at $77.12, with a volume of 32,241 shares changing hands.

The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.18).

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating on shares of Palvella Therapeutics in a report on Tuesday. Stifel Nicolaus raised their target price on Palvella Therapeutics from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Lifesci Capital began coverage on Palvella Therapeutics in a report on Monday, August 4th. They issued an “outperform” rating and a $90.00 price target for the company. Truist Financial increased their price objective on shares of Palvella Therapeutics from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Monday. Finally, HC Wainwright raised their price objective on shares of Palvella Therapeutics from $95.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Clio Asset Management LLC acquired a new stake in shares of Palvella Therapeutics in the second quarter valued at approximately $2,063,000. Woodline Partners LP acquired a new position in Palvella Therapeutics during the first quarter worth $5,435,000. Goldman Sachs Group Inc. bought a new position in Palvella Therapeutics in the first quarter valued at $533,000. Frazier Life Sciences Management L.P. boosted its stake in shares of Palvella Therapeutics by 5.5% during the 1st quarter. Frazier Life Sciences Management L.P. now owns 690,012 shares of the company’s stock worth $19,313,000 after buying an additional 36,120 shares during the last quarter. Finally, Royce & Associates LP acquired a new position in shares of Palvella Therapeutics during the 1st quarter worth about $2,002,000. 40.11% of the stock is currently owned by institutional investors.

Palvella Therapeutics Stock Performance

The company has a market cap of $861.02 million, a P/E ratio of -20.54 and a beta of -0.05. The company has a fifty day moving average price of $67.15 and a two-hundred day moving average price of $43.73.

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.