XTX Topco Ltd has acquired a new stake in Palvella Therapeutics, Inc. (NASDAQ: PVLA), purchasing 17,701 shares valued at approximately $399,000 in the second quarter of the year. This transaction was disclosed in XTX’s recent Form 13F filing with the Securities and Exchange Commission (SEC). Following this acquisition, XTX Topco Ltd owned about 0.16% of Palvella Therapeutics as of its latest filing.
Other institutional investors have also made significant adjustments to their positions in Palvella. The Police & Firemen’s Retirement System of New Jersey established a new position valued at around $37,000 during the second quarter. Notably, JPMorgan Chase & Co. dramatically increased its stake by 108,066.7%, acquiring an additional 3,242 shares to bring its total holdings to 3,245 shares, worth approximately $73,000. Furthermore, Rhumbline Advisers and Goldman Sachs Group Inc. made new investments of about $224,000 and $533,000, respectively, during the first quarter.
Market Activity and Insider Trading
As a result of these transactions, institutional investors now control 40.11% of Palvella’s stock. On November 19, shares of Palvella Therapeutics opened at $100.49, reflecting a 7.1% increase. The stock has demonstrated notable volatility over the past year, reaching a low of $11.17 and a high of $106.71. The company’s market capitalization stands at $1.19 billion, with a price-to-earnings ratio of -38.21 and a beta of -0.20.
In addition, Palvella’s Chief Operating Officer, Kathleen Goin, sold 4,302 shares on November 19 at an average price of $86.23, resulting in a total transaction value of approximately $370,961.46. Insiders now own 20.50% of the company’s stock.
Analyst Ratings and Future Prospects
Several analysts have recently expressed positive outlooks on Palvella Therapeutics. Oppenheimer reaffirmed an “outperform” rating in a note published on November 11. Additionally, Raymond James Financial upgraded its rating from “outperform” to “strong-buy,” while also increasing the target price from $92.00 to $143.00. Other firms, including Cantor Fitzgerald and HC Wainwright, have raised their price targets significantly, reflecting growing confidence in the company’s prospects.
As of now, two analysts have rated Palvella Therapeutics as a “Strong Buy,” twelve have given it a “Buy” rating, and one has issued a “Sell” rating. According to MarketBeat.com, the consensus rating is currently “Buy” with an average target price of $125.00.
Founded in Wayne, Pennsylvania, Palvella Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing innovative therapies for patients suffering from serious, rare genetic skin diseases. The company continues to attract attention from both institutional investors and analysts, reflecting its potential in the biopharmaceutical sector.
