Zevra Therapeutics, Inc. $ZVRA Position Cut by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC reduced its stake in Zevra Therapeutics by 8.5%, now holding approximately 256,664 shares valued at about $2.26 million.
• Despite the cut by Janney Montgomery Scott, other investors like Woodline Partners LP and AIGH Capital Management LLC increased their stakes in Zevra, with the latter raising its holdings by 82.4%.
• Zevra Therapeutics reported a loss of ($0.06) EPS, significantly missing expectations, but surpassed revenue estimates by generating $25.88 million in the previous quarter.

Janney Montgomery Scott LLC cut its position in Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 8.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 256,664 shares of the company's stock after selling 23,870 shares during the quarter. Janney Montgomery Scott LLC owned about 0.47% of Zevra Therapeutics worth $2,261,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Woodline Partners LP raised its holdings in Zevra Therapeutics by 11.5% during the first quarter. Woodline Partners LP now owns 4,615,625 shares of the company's stock worth $34,571,000 after purchasing an additional 476,032 shares in the last quarter. AIGH Capital Management LLC increased its position in shares of Zevra Therapeutics by 82.4% during the 1st quarter. AIGH Capital Management LLC now owns 1,438,109 shares of the company's stock valued at $10,771,000 after purchasing an additional 649,495 shares during the period. Readystate Asset Management LP raised its stake in shares of Zevra Therapeutics by 924.6% in the 1st quarter. Readystate Asset Management LP now owns 683,032 shares of the company's stock worth $5,116,000 after buying an additional 616,370 shares in the last quarter. Velan Capital Investment Management LP raised its stake in shares of Zevra Therapeutics by 121.7% in the 1st quarter. Velan Capital Investment Management LP now owns 665,000 shares of the company's stock worth $4,981,000 after buying an additional 365,000 shares in the last quarter. Finally, Stonepine Capital Management LLC lifted its holdings in shares of Zevra Therapeutics by 8.8% in the first quarter. Stonepine Capital Management LLC now owns 650,000 shares of the company's stock valued at $4,868,000 after buying an additional 52,300 shares during the period. 35.03% of the stock is owned by institutional investors and hedge funds.

Zevra Therapeutics Price Performance

Shares of ZVRA opened at $11.01 on Friday. The business's 50-day moving average is $9.40 and its 200-day moving average is $9.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 7.85 and a quick ratio of 7.81. The company has a market capitalization of $617.99 million, a price-to-earnings ratio of -52.43 and a beta of 1.49. Zevra Therapeutics, Inc. has a fifty-two week low of $6.19 and a fifty-two week high of $13.16.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($1.49). The firm had revenue of $25.88 million during the quarter, compared to analysts' expectations of $22.49 million. Zevra Therapeutics had a net margin of 4.33% and a negative return on equity of 112.40%. Equities research analysts expect that Zevra Therapeutics, Inc. will post -1.95 EPS for the current fiscal year.

Insider Transactions at Zevra Therapeutics

In other Zevra Therapeutics news, CEO Neil F. Mcfarlane sold 19,500 shares of the business's stock in a transaction on Friday, October 10th. The shares were sold at an average price of $10.82, for a total transaction of $210,990.00. Following the completion of the transaction, the chief executive officer owned 222,016 shares of the company's stock, valued at $2,402,213.12. The trade was a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Bode acquired 5,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 45,000 shares in the company, valued at $412,200. The trade was a 12.50% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ZVRA. Wall Street Zen lowered Zevra Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, October 4th. HC Wainwright began coverage on shares of Zevra Therapeutics in a report on Wednesday, July 2nd. They issued a "buy" rating and a $26.00 target price on the stock. Zacks Research cut shares of Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. JMP Securities decreased their price target on shares of Zevra Therapeutics from $19.00 to $18.00 and set a "market outperform" rating on the stock in a research report on Wednesday, August 13th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Zevra Therapeutics in a report on Saturday, September 27th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Zevra Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $24.00.

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.

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