Insider Selling: Zevra Therapeutics (NASDAQ:ZVRA) CEO Sells 19,500 Shares of Stock

Key Points

• Neil Mcfarlane, CEO of Zevra Therapeutics, sold 19,500 shares of the company at an average price of $10.82, decreasing his holdings by 8.07%.
• Zevra Therapeutics reported a loss of ($0.06) earnings per share, significantly missing analyst expectations of $1.43 for the quarter ending August 12th.
• The company has seen increased institutional investment, with several firms significantly raising their stakes, including Rubric Capital Management, which increased its stake by 60.8%.

Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Get Free Report) CEO Neil Mcfarlane sold 19,500 shares of the company's stock in a transaction on Friday, October 10th. The shares were sold at an average price of $10.82, for a total value of $210,990.00. Following the completion of the transaction, the chief executive officer directly owned 222,016 shares in the company, valued at $2,402,213.12. This trade represents a 8.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Zevra Therapeutics Stock Up 1.8%

Shares of ZVRA stock traded up $0.19 during mid-day trading on Friday, hitting $11.01. The stock had a trading volume of 2,887,897 shares, compared to its average volume of 986,310. Zevra Therapeutics, Inc. has a 12-month low of $6.19 and a 12-month high of $13.16. The firm has a market capitalization of $618.05 million, a P/E ratio of -52.43 and a beta of 1.49. The firm's 50-day moving average is $9.41 and its two-hundred day moving average is $9.05. The company has a debt-to-equity ratio of 0.52, a current ratio of 7.85 and a quick ratio of 7.81.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a "sell (d)" rating on shares of Zevra Therapeutics in a report on Saturday, September 27th. Cantor Fitzgerald upped their target price on Zevra Therapeutics from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. HC Wainwright assumed coverage on Zevra Therapeutics in a report on Wednesday, July 2nd. They issued a "buy" rating and a $26.00 target price for the company. Citigroup reiterated an "outperform" rating on shares of Zevra Therapeutics in a report on Wednesday, August 13th. Finally, Wall Street Zen cut Zevra Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Institutional Investors Weigh In On Zevra Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZVRA. Rubric Capital Management LP raised its stake in Zevra Therapeutics by 60.8% in the second quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company's stock valued at $17,253,000 after buying an additional 740,584 shares during the last quarter. AIGH Capital Management LLC raised its stake in Zevra Therapeutics by 82.4% in the first quarter. AIGH Capital Management LLC now owns 1,438,109 shares of the company's stock valued at $10,771,000 after buying an additional 649,495 shares during the last quarter. Readystate Asset Management LP increased its holdings in shares of Zevra Therapeutics by 924.6% in the first quarter. Readystate Asset Management LP now owns 683,032 shares of the company's stock valued at $5,116,000 after purchasing an additional 616,370 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in shares of Zevra Therapeutics by 15.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 4,168,000 shares of the company's stock valued at $36,720,000 after purchasing an additional 550,000 shares during the period. Finally, Woodline Partners LP increased its holdings in shares of Zevra Therapeutics by 11.5% in the first quarter. Woodline Partners LP now owns 4,615,625 shares of the company's stock valued at $34,571,000 after purchasing an additional 476,032 shares during the period. 35.03% of the stock is currently owned by hedge funds and other institutional investors.

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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