Woodline Partners LP Raises Holdings in Zevra Therapeutics, Inc. $ZVRA

Key Points

• Woodline Partners LP increased its stake in Zevra Therapeutics by 11.5% in the 1st quarter, acquiring an additional 476,032 shares, bringing its total ownership to 4,615,625 shares worth $34.57 million.
• Recent analyst reports have mixed ratings for Zevra Therapeutics, with Cantor Fitzgerald raising their target price to $29.00 while Zacks Research downgraded the stock to a "hold" rating.
• Zevra Therapeutics stock has seen fluctuations, currently trading at $8.21, with a market capitalization of approximately $460.83 million and a price-to-earnings ratio of -39.10.

Woodline Partners LP lifted its holdings in Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,615,625 shares of the company's stock after purchasing an additional 476,032 shares during the period. Woodline Partners LP owned about 8.44% of Zevra Therapeutics worth $34,571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of ZVRA. Raymond James Financial Inc. purchased a new stake in Zevra Therapeutics during the 4th quarter worth approximately $224,000. Price T Rowe Associates Inc. MD increased its stake in Zevra Therapeutics by 51.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,565 shares of the company's stock worth $172,000 after buying an additional 6,966 shares in the last quarter. Northern Trust Corp increased its stake in Zevra Therapeutics by 22.9% during the 4th quarter. Northern Trust Corp now owns 435,972 shares of the company's stock worth $3,636,000 after buying an additional 81,252 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Zevra Therapeutics during the 4th quarter worth approximately $53,000. Finally, Bank of America Corp DE boosted its holdings in shares of Zevra Therapeutics by 222.4% during the 4th quarter. Bank of America Corp DE now owns 98,245 shares of the company's stock worth $819,000 after purchasing an additional 67,772 shares during the last quarter. 35.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ZVRA. Zacks Research cut 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 set a "buy" rating and a $26.00 target price on the stock. Wall Street Zen cut Zevra Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup restated an "outperform" rating on shares of Zevra Therapeutics in a report on Wednesday, August 13th. Finally, JMP Securities lowered their target price on Zevra Therapeutics from $19.00 to $18.00 and set a "market outperform" rating on the stock in a report on Wednesday, August 13th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Zevra Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $23.71.

Insider Buying and Selling

In other Zevra Therapeutics news, Director John B. Bode bought 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $9.16 per share, with a total value of $45,800.00. Following the completion of the acquisition, the director directly owned 45,000 shares of the company's stock, valued at $412,200. This represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by company insiders.

Zevra Therapeutics Stock Down 4.8%

NASDAQ:ZVRA traded down $0.37 during trading hours on Monday, hitting $7.38. The company's stock had a trading volume of 517,430 shares, compared to its average volume of 785,876. The stock has a market capitalization of $414.24 million, a P/E ratio of -35.14 and a beta of 1.56. The stock has a fifty day moving average of $10.44 and a 200-day moving average of $8.92. The company has a current ratio of 7.85, a quick ratio of 7.81 and a debt-to-equity ratio of 0.52. Zevra Therapeutics, Inc. has a 52-week low of $6.19 and a 52-week high of $13.16.

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.