Bank of New York Mellon Corp Invests $2.85 Million in Zevra Therapeutics, Inc. $ZVRA

Key Points

• Bank of New York Mellon acquired 198,432 shares of Zevra Therapeutics valued at approximately $2.85 million, while institutional investors collectively own 35.03% of the company.
• Zevra reported quarterly earnings of $0.25 per share and revenue of $39.66 million, exceeding analyst estimates of $0.11 per share and $33.88 million, respectively.
• Analysts remain broadly optimistic, with nine Buy ratings and one Hold rating, an average “Moderate Buy” consensus, and an average price target of $27.14 versus the stock’s reported $12.40 price.

Bank of New York Mellon Corp acquired a new stake in shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 198,432 shares of the company's stock, valued at approximately $2,846,000. Bank of New York Mellon Corp owned approximately 0.34% of Zevra Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Zevra Therapeutics during the fourth quarter worth $53,000. Russell Investments Group Ltd. increased its holdings in shares of Zevra Therapeutics by 235.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,374 shares of the company's stock valued at $61,000 after acquiring an additional 4,475 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Zevra Therapeutics by 617.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company's stock valued at $88,000 after acquiring an additional 8,552 shares during the period. Creative Planning bought a new position in shares of Zevra Therapeutics in the 2nd quarter worth $92,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Zevra Therapeutics in the 2nd quarter worth $99,000. 35.03% of the stock is owned by hedge funds and other institutional investors.

Zevra Therapeutics Stock Performance

Shares of ZVRA stock opened at $12.40 on Monday. Zevra Therapeutics, Inc. has a fifty-two week low of $7.16 and a fifty-two week high of $15.03. The firm has a market capitalization of $736.31 million, a price-to-earnings ratio of 13.48 and a beta of 0.95. The stock's 50-day simple moving average is $12.05 and its 200-day simple moving average is $11.01.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.14. The company had revenue of $39.66 million during the quarter, compared to analysts' expectations of $33.88 million. Zevra Therapeutics had a net margin of 42.82% and a return on equity of 54.54%. As a group, equities analysts forecast that Zevra Therapeutics, Inc. will post 0.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ZVRA has been the subject of a number of analyst reports. Canaccord Genuity Group decreased their price objective on Zevra Therapeutics from $29.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, July 27th. Citigroup reiterated an "outperform" rating on shares of Zevra Therapeutics in a research note on Thursday, August 6th. Cantor Fitzgerald boosted their target price on shares of Zevra Therapeutics from $24.00 to $34.00 and gave the stock an "overweight" rating in a report on Monday, June 8th. BTIG Research decreased their price target on shares of Zevra Therapeutics from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Zevra Therapeutics in a research report on Wednesday, August 19th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Zevra Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $27.14.

Insider Activity at Zevra Therapeutics

In related news, Director Corey Watton sold 12,300 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $11.25, for a total value of $138,375.00. Following the transaction, the director directly owned 1,800 shares of the company's stock, valued at $20,250. This represents a 87.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.70% of the company's stock.

Zevra Therapeutics Profile

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. The company is also developing Celiprolol, a prodrug product candidate that is under Phase 1/2 clinical trial for the treatment of vascular Ehlers Danlos syndrome.

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