Zevra Therapeutics, Inc. $ZVRA Stake Raised by Woodline Partners LP

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 boosted its holdings in Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 11.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,615,625 shares of the company's stock after purchasing an additional 476,032 shares during the quarter. Woodline Partners LP owned approximately 8.44% of Zevra Therapeutics worth $34,571,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ZVRA. AIGH Capital Management LLC boosted its holdings in shares of Zevra Therapeutics by 82.4% during the first quarter. AIGH Capital Management LLC now owns 1,438,109 shares of the company's stock valued at $10,771,000 after acquiring an additional 649,495 shares during the period. Readystate Asset Management LP boosted its holdings in shares of Zevra Therapeutics by 924.6% during the first quarter. Readystate Asset Management LP now owns 683,032 shares of the company's stock valued at $5,116,000 after acquiring an additional 616,370 shares during the period. Velan Capital Investment Management LP boosted its holdings in shares of Zevra Therapeutics by 121.7% during the first quarter. Velan Capital Investment Management LP now owns 665,000 shares of the company's stock valued at $4,981,000 after acquiring an additional 365,000 shares during the period. Wellington Management Group LLP acquired a new position in shares of Zevra Therapeutics during the first quarter valued at $1,052,000. Finally, Millennium Management LLC boosted its holdings in shares of Zevra Therapeutics by 138.2% during 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 period. Institutional investors and hedge funds own 35.03% of the company's stock.

Zevra Therapeutics Price Performance

ZVRA stock traded down $0.20 during trading on Friday, hitting $7.75. The company had a trading volume of 1,814,201 shares, compared to its average volume of 1,265,323. The firm has a market capitalization of $435.01 million, a price-to-earnings ratio of -36.90 and a beta of 1.56. The business has a 50 day moving average of $10.44 and a 200 day moving average of $8.90. Zevra Therapeutics, Inc. has a fifty-two week low of $6.19 and a fifty-two week high of $13.16. The company has a current ratio of 7.85, a quick ratio of 7.81 and a debt-to-equity ratio of 0.52.

Insiders Place Their Bets

In related news, Director John B. Bode acquired 5,000 shares of Zevra Therapeutics stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired 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 trade represents a 12.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by insiders.

Analysts Set New Price Targets

ZVRA has been the subject of several analyst reports. Citigroup reissued an "outperform" rating on shares of Zevra Therapeutics in a report on Wednesday, August 13th. Cantor Fitzgerald boosted their price target on shares of Zevra Therapeutics from $25.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen downgraded shares of Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 20th. Zacks Research downgraded shares of Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Finally, JMP Securities reduced their price objective on shares of 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 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 has an average rating of "Moderate Buy" and an average target price 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.