Palvella Therapeutics (NASDAQ:PVLA) Coverage Initiated at Chardan Capital

Chardan Capital began coverage on shares of Palvella Therapeutics (NASDAQ:PVLA) in a research note released on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $50.00 price objective on the stock.

Other research analysts also recently issued reports about the stock. TD Cowen initiated coverage on shares of Palvella Therapeutics in a research report on Wednesday, February 5th. They set a “buy” rating and a $44.00 target price for the company. Scotiabank initiated coverage on Palvella Therapeutics in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price target on shares of Palvella Therapeutics in a research report on Tuesday, April 1st. Stifel Nicolaus started coverage on Palvella Therapeutics in a report on Wednesday, March 26th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $39.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, February 26th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $44.43.

Palvella Therapeutics Price Performance

Shares of NASDAQ PVLA traded down $0.64 during midday trading on Wednesday, reaching $21.16. The company’s stock had a trading volume of 11,631 shares, compared to its average volume of 65,994. The firm has a 50 day moving average price of $22.27. The firm has a market cap of $233.16 million, a PE ratio of -1.75 and a beta of 0.10. Palvella Therapeutics has a 12-month low of $6.20 and a 12-month high of $29.27.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PVLA. Citadel Advisors LLC purchased a new position in shares of Palvella Therapeutics during the fourth quarter worth about $125,000. Toronto Dominion Bank bought a new stake in shares of Palvella Therapeutics in the 4th quarter valued at about $159,000. Geode Capital Management LLC bought a new position in shares of Palvella Therapeutics in the fourth quarter worth approximately $171,000. Cresset Asset Management LLC purchased a new position in shares of Palvella Therapeutics in the fourth quarter valued at about $251,000. Finally, Renaissance Technologies LLC purchased a new stake in Palvella Therapeutics in the 4th quarter worth approximately $256,000. 40.11% of the stock is currently 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.