Royce & Associates LP Takes Position in Zevra Therapeutics, Inc. $ZVRA

Key Points

• Royce & Associates LP initiated a new position of 691,239 shares in Zevra Therapeutics, valued at about $6.57 million, representing roughly 1.23% of the company.
• Analyst consensus is a “Moderate Buy” (six Buys, one Hold, one Sell) with an average price target of $22.80.
• Insiders have been net sellers recently — 114,158 shares (~$1.06M) sold in the last 90 days — leaving insiders with about 2.40% ownership.

Royce & Associates LP acquired a new position in Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 691,239 shares of the company's stock, valued at approximately $6,574,000. Royce & Associates LP owned approximately 1.23% of Zevra Therapeutics as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC increased its stake in Zevra Therapeutics by 399.5% in the 3rd quarter. CWM LLC now owns 2,872 shares of the company's stock valued at $27,000 after buying an additional 2,297 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Zevra Therapeutics by 30.0% in the second quarter. Ameritas Investment Partners Inc. now owns 5,541 shares of the company's stock valued at $49,000 after acquiring an additional 1,280 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Zevra Therapeutics by 617.5% during the second quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company's stock worth $88,000 after acquiring an additional 8,552 shares in the last quarter. Creative Planning acquired a new position in Zevra Therapeutics during the second quarter valued at approximately $92,000. Finally, Fox Run Management L.L.C. acquired a new position in Zevra Therapeutics during the second quarter valued at approximately $99,000. Institutional investors own 35.03% of the company's stock.

Zevra Therapeutics Price Performance

Shares of NASDAQ:ZVRA opened at $8.93 on Thursday. The firm has a 50 day moving average of $8.79 and a 200-day moving average of $9.07. The stock has a market capitalization of $502.76 million, a PE ratio of 19.00 and a beta of 0.91. The company has a current ratio of 8.62, a quick ratio of 8.57 and a debt-to-equity ratio of 0.46. Zevra Therapeutics, Inc. has a 12 month low of $6.19 and a 12 month high of $13.16.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Zevra Therapeutics from a "hold" rating to a "buy" rating in a research report on Saturday, November 8th. Weiss Ratings reissued a "sell (d+)" rating on shares of Zevra Therapeutics in a report on Friday, January 9th. Canaccord Genuity Group decreased their price objective on Zevra Therapeutics from $25.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, November 6th. Cantor Fitzgerald lowered their price objective on Zevra Therapeutics from $29.00 to $24.00 and set an "overweight" rating on the stock in a research report on Thursday, November 6th. Finally, HC Wainwright set a $26.00 target price on Zevra Therapeutics in a report on Tuesday, December 30th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $22.80.

Insider Activity

In other news, insider Adrian W. Quartel sold 4,533 shares of Zevra Therapeutics stock in a transaction on Friday, January 30th. The stock was sold at an average price of $8.83, for a total value of $40,026.39. Following the transaction, the insider owned 9,723 shares in the company, valued at approximately $85,854.09. This trade represents a 31.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Timothy J. Sangiovanni sold 3,000 shares of the business's stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $9.18, for a total value of $27,540.00. Following the transaction, the senior vice president directly owned 29,590 shares of the company's stock, valued at $271,636.20. This trade represents a 9.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 114,158 shares of company stock valued at $1,062,878. 2.40% of the stock is owned by insiders.

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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