Retirement Planning Co of New England Inc. Acquires 35,348 Shares of Zevra Therapeutics, Inc. $ZVRA

Key Points

• Retirement Planning Co of New England Inc. increased its stake in Zevra Therapeutics by 6.9%, owning 550,180 shares worth approximately $4.12 million, which makes up 1.5% of its portfolio.
• JPMorgan Chase & Co. and Wells Fargo & Company MN significantly increased their positions in Zevra Therapeutics by over 50%, highlighting growing institutional interest in the company.
• Analysts have generally rated Zevra Therapeutics positively, with a consensus target price of $23.71, although some reports suggest a downgrade from "strong-buy" to "buy."

Retirement Planning Co of New England Inc. lifted its position in Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 550,180 shares of the company's stock after purchasing an additional 35,348 shares during the quarter. Zevra Therapeutics comprises about 1.5% of Retirement Planning Co of New England Inc.'s investment portfolio, making the stock its 8th biggest position. Retirement Planning Co of New England Inc. owned about 1.01% of Zevra Therapeutics worth $4,121,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in Zevra Therapeutics during the fourth quarter worth approximately $53,000. GAMMA Investing LLC increased its stake in Zevra Therapeutics by 20,564.1% during the first quarter. GAMMA Investing LLC now owns 8,059 shares of the company's stock worth $60,000 after acquiring an additional 8,020 shares during the last quarter. Squarepoint Ops LLC increased its stake in Zevra Therapeutics by 36.1% during the fourth quarter. Squarepoint Ops LLC now owns 16,534 shares of the company's stock worth $138,000 after acquiring an additional 4,384 shares during the last quarter. ProShare Advisors LLC bought a new stake in Zevra Therapeutics during the fourth quarter worth approximately $145,000. Finally, Invesco Ltd. boosted its position in shares of Zevra Therapeutics by 19.6% during the fourth quarter. Invesco Ltd. now owns 18,384 shares of the company's stock valued at $153,000 after buying an additional 3,007 shares during the period. 35.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ZVRA has been the subject of several recent analyst reports. Citigroup restated an "outperform" rating on shares of Zevra Therapeutics in a research report on Wednesday, August 13th. Zacks Research lowered Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. HC Wainwright began coverage on Zevra Therapeutics in a report on Wednesday, July 2nd. They issued a "buy" rating and a $26.00 price target for the company. Cantor Fitzgerald boosted their price target on Zevra Therapeutics from $25.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, JMP Securities lowered their price target on Zevra Therapeutics from $19.00 to $18.00 and set a "market outperform" rating for the company in a report on Wednesday, August 13th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Zevra Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $23.71.

Zevra Therapeutics Trading Down 2.0%

Shares of NASDAQ:ZVRA traded down $0.18 during trading on Wednesday, reaching $8.92. The stock had a trading volume of 881,906 shares, compared to its average volume of 1,616,205. Zevra Therapeutics, Inc. has a one year low of $6.19 and a one year high of $13.16. The company has a quick ratio of 7.81, a current ratio of 7.85 and a debt-to-equity ratio of 0.52. The firm's 50-day simple moving average is $10.58 and its 200 day simple moving average is $8.88.

Insider Activity

In other Zevra Therapeutics news, Director John B. Bode purchased 5,000 shares of Zevra Therapeutics stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost 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 in the company, valued at approximately $412,200. This trade represents a 12.50% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.40% of the company's stock.

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.