Zevra Therapeutics, Inc. $ZVRA Shares Sold by Nantahala Capital Management LLC

Key Points

• Nantahala Capital Management has reduced its holdings in Zevra Therapeutics by 37.1%, selling 868,397 shares, and now owns approximately 2.69% of the company valued at $11 million.
• Several hedge funds increased their positions in Zevra, with Price T Rowe Associates boosting its stake by 51.2% and Millennium Management raising its holdings by 138.2% during the last quarter.
• Zevra Therapeutics stock has an average rating of "Moderate Buy" from analysts, with a consensus price target of $23.71, despite recent price targets being lowered by some firms.

Nantahala Capital Management LLC cut its position in shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 37.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,471,936 shares of the company's stock after selling 868,397 shares during the quarter. Nantahala Capital Management LLC owned about 2.69% of Zevra Therapeutics worth $11,025,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Woodline Partners LP increased its stake in Zevra Therapeutics by 2.2% during the fourth quarter. Woodline Partners LP now owns 4,139,593 shares of the company's stock worth $34,524,000 after acquiring an additional 90,940 shares during the last quarter. AIGH Capital Management LLC increased its stake in Zevra Therapeutics by 82.4% during the first quarter. AIGH Capital Management LLC now owns 1,438,109 shares of the company's stock worth $10,771,000 after acquiring an additional 649,495 shares during the last quarter. Readystate Asset Management LP increased its stake in Zevra Therapeutics by 924.6% during the first quarter. Readystate Asset Management LP now owns 683,032 shares of the company's stock worth $5,116,000 after acquiring an additional 616,370 shares during the last quarter. Velan Capital Investment Management LP increased its stake in Zevra Therapeutics by 121.7% during the first quarter. Velan Capital Investment Management LP now owns 665,000 shares of the company's stock worth $4,981,000 after acquiring an additional 365,000 shares during the last quarter. Finally, Stonepine Capital Management LLC increased its stake in Zevra Therapeutics by 8.8% during the first quarter. Stonepine Capital Management LLC now owns 650,000 shares of the company's stock worth $4,868,000 after acquiring an additional 52,300 shares during the last quarter. 35.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zevra Therapeutics

In other news, Director John B. Bode acquired 5,000 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $9.16 per share, for a total transaction of $45,800.00. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ZVRA shares. JMP Securities decreased their target price on Zevra Therapeutics from $19.00 to $18.00 and set a "market outperform" rating for the company in a research report on Wednesday, August 13th. HC Wainwright started coverage on Zevra Therapeutics in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $26.00 target price for the company. Cantor Fitzgerald upped their target price on Zevra Therapeutics from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen downgraded Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 20th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Zevra Therapeutics in a research 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 a consensus rating of "Moderate Buy" and a consensus price target of $23.71.

Zevra Therapeutics Stock Up 0.1%

NASDAQ ZVRA traded up $0.01 on Thursday, hitting $8.93. 1,633,586 shares of the stock traded hands, compared to its average volume of 765,911. The stock has a 50-day moving average of $10.58 and a 200 day moving average of $8.88. Zevra Therapeutics, Inc. has a twelve month low of $6.19 and a twelve month high of $13.16. The company has a market capitalization of $501.29 million, a P/E ratio of -42.52 and a beta of 1.56. 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 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.