Zevra Therapeutics, Inc. $ZVRA is Velan Capital Investment Management LP's 9th Largest Position

Key Points

• Velan Capital Investment Management LP significantly increased its stake in Zevra Therapeutics by 121.7% during the first quarter, now holding 665,000 shares worth approximately $4.98 million.
• Other institutional investors, such as AIGH Capital Management and Readystate Asset Management, have also raised their positions in Zevra, indicating growing confidence in the stock.
• Despite recent analyst ratings, including downgrades, the average target price for Zevra Therapeutics remains at $23.71, with a consensus rating of "Buy."

Velan Capital Investment Management LP boosted its stake in Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 121.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 665,000 shares of the company's stock after purchasing an additional 365,000 shares during the quarter. Zevra Therapeutics comprises 5.1% of Velan Capital Investment Management LP's investment portfolio, making the stock its 9th biggest position. Velan Capital Investment Management LP owned 1.22% of Zevra Therapeutics worth $4,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in Zevra Therapeutics by 51.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,565 shares of the company's stock valued at $172,000 after acquiring an additional 6,966 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Zevra Therapeutics in the fourth quarter valued at about $53,000. Millennium Management LLC grew its position in Zevra Therapeutics by 138.2% in the fourth quarter. Millennium Management LLC now owns 233,132 shares of the company's stock valued at $1,944,000 after acquiring an additional 135,246 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Zevra Therapeutics by 25.4% during the fourth quarter. Deutsche Bank AG now owns 50,906 shares of the company's stock worth $425,000 after purchasing an additional 10,306 shares during the last quarter. Finally, ProShare Advisors LLC bought a new stake in shares of Zevra Therapeutics during the fourth quarter worth about $145,000. Institutional investors and hedge funds own 35.03% of the company's stock.

Zevra Therapeutics Trading Up 0.8%

Shares of Zevra Therapeutics stock traded up $0.08 on Wednesday, reaching $9.18. 301,185 shares of the company's stock were exchanged, compared to its average volume of 757,130. The company has a market capitalization of $515.05 million, a P/E ratio of -43.69 and a beta of 1.56. Zevra Therapeutics, Inc. has a 52 week low of $6.19 and a 52 week high of $13.16. The firm's 50-day moving average is $10.59 and its two-hundred day moving average is $8.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 7.81 and a current ratio of 7.85.

Insider Activity

In other Zevra Therapeutics news, Director John B. Bode purchased 5,000 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost of $9.16 per share, for a total transaction of $45,800.00. Following the acquisition, the director owned 45,000 shares of the company's stock, valued at approximately $412,200. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ZVRA shares. Zacks Research cut Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Citigroup reiterated an "outperform" rating on shares of Zevra Therapeutics in a report on Wednesday, August 13th. Cantor Fitzgerald upped their target price on Zevra Therapeutics from $25.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. HC Wainwright began coverage on Zevra Therapeutics in a report on Wednesday, July 2nd. They issued a "buy" rating and a $26.00 target price on the stock. Finally, Wall Street Zen cut Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 20th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.71.

Zevra Therapeutics Company 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.