AIGH Capital Management LLC Trims Holdings in Zevra Therapeutics, Inc. $ZVRA

Key Points

• AIGH Capital Management LLC reduced its holdings in Zevra Therapeutics by 36.1%, selling 519,216 shares during the second quarter, resulting in ownership of 918,893 shares.
• Several hedge funds, including MIRAE ASSET GLOBAL ETFS and Charles Schwab Investment Management Inc., have recently altered their stakes in Zevra, with some increasing their positions.
• Analysts have set a moderate buy rating for Zevra Therapeutics, with an average price target of $24.00 despite some firms downgrading their ratings.

AIGH Capital Management LLC trimmed its position in Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 36.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 918,893 shares of the company's stock after selling 519,216 shares during the quarter. Zevra Therapeutics comprises approximately 3.6% of AIGH Capital Management LLC's holdings, making the stock its 11th biggest position. AIGH Capital Management LLC owned about 1.68% of Zevra Therapeutics worth $8,095,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Zevra Therapeutics by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,761 shares of the company's stock worth $238,000 after acquiring an additional 1,812 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Zevra Therapeutics by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 153,331 shares of the company's stock worth $1,148,000 after acquiring an additional 3,827 shares in the last quarter. Rhumbline Advisers increased its holdings in Zevra Therapeutics by 9.6% in the 1st quarter. Rhumbline Advisers now owns 74,585 shares of the company's stock worth $559,000 after acquiring an additional 6,532 shares in the last quarter. GAMMA Investing LLC boosted its stake in Zevra Therapeutics by 20,564.1% in the 1st quarter. GAMMA Investing LLC now owns 8,059 shares of the company's stock worth $60,000 after purchasing an additional 8,020 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Zevra Therapeutics by 11.0% in the 1st quarter. Bank of New York Mellon Corp now owns 120,433 shares of the company's stock worth $902,000 after purchasing an additional 11,946 shares during the period. 35.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ZVRA. JMP Securities dropped their price target on Zevra Therapeutics from $19.00 to $18.00 and set a "market outperform" rating for the company in a research note on Wednesday, August 13th. HC Wainwright began coverage on Zevra Therapeutics in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $26.00 price target for the company. Citigroup restated an "outperform" rating on shares of Zevra Therapeutics in a research note on Wednesday, August 13th. Zacks Research downgraded Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Zevra Therapeutics in a research note on Tuesday, October 14th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.00.

Insiders Place Their Bets

In related news, CEO Neil F. Mcfarlane sold 19,500 shares of the firm's stock in a transaction on Friday, October 10th. The stock was sold at an average price of $10.82, for a total value of $210,990.00. Following the completion of the sale, the chief executive officer directly owned 222,016 shares in the company, valued at $2,402,213.12. This trade represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Bode purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $9.16 per share, with a total value of $45,800.00. Following the completion of the transaction, the director owned 45,000 shares of the company's stock, valued at $412,200. The trade was a 12.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.40% of the stock is owned by company insiders.

Zevra Therapeutics Trading Down 5.0%

ZVRA stock opened at $10.81 on Monday. The firm has a fifty day moving average price of $9.34 and a 200 day moving average price of $9.21. Zevra Therapeutics, Inc. has a fifty-two week low of $6.19 and a fifty-two week high of $13.16. The company has a debt-to-equity ratio of 0.52, a quick ratio of 7.81 and a current ratio of 7.85. The firm has a market cap of $606.77 million, a PE ratio of -51.48 and a beta of 1.49.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($1.49). The business had revenue of $25.88 million during the quarter, compared to analysts' expectations of $22.49 million. Zevra Therapeutics had a net margin of 4.33% and a negative return on equity of 112.40%. Sell-side analysts anticipate that Zevra Therapeutics, Inc. will post -1.95 earnings per share for the current fiscal year.

About Zevra Therapeutics

Zevra Therapeutics, Inc discovers and develops various proprietary prodrugs to treat serious medical conditions in the United States. The company develops its products through Ligand Activated Therapy platform. Its lead product candidate is KP1077, consisting of KP1077IH, which is under Phase 2 clinical trial for the treatment of idiopathic hypersomnia, and KP1077N, which is under Phase ½ clinical trial to treat narcolepsy.

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