Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Sees Large Growth in Short Interest

Key Points

• Zevra Therapeutics experienced a significant increase in short interest, up by 37.1% in August, reaching a total of 6,360,000 shares shorted.
• Director John B. Bode increased his stake in the company by 12.5% after purchasing 5,000 shares at $9.16 each, raising his total ownership to 45,000 shares.
• Institutional investors own 35.03% of Zevra Therapeutics, and several hedge funds have made notable changes to their positions recently.

Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Get Free Report) was the recipient of a large growth in short interest in August. As of August 15th, there was short interest totaling 6,360,000 shares, a growth of 37.1% from the July 31st total of 4,640,000 shares. Approximately 11.5% of the company's stock are short sold. Based on an average daily volume of 1,170,000 shares, the days-to-cover ratio is currently 5.4 days. Based on an average daily volume of 1,170,000 shares, the days-to-cover ratio is currently 5.4 days. Approximately 11.5% of the company's stock are short sold.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen cut Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 20th. Citigroup reaffirmed an "outperform" rating on shares of Zevra Therapeutics in a research report on Wednesday, August 13th. HC Wainwright assumed coverage on Zevra Therapeutics in a research report on Wednesday, July 2nd. They set a "buy" rating and a $26.00 price target for the company. JMP Securities lowered their price target 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. Finally, Cantor Fitzgerald lifted their price objective on Zevra Therapeutics from $25.00 to $29.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold 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 $23.71.

Zevra Therapeutics Price Performance

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

Insider Buying and Selling at Zevra Therapeutics

In other Zevra Therapeutics news, Director John B. Bode acquired 5,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $9.16 per share, with a total value of $45,800.00. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Zevra Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in shares of Zevra Therapeutics by 617.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company's stock valued at $88,000 after purchasing an additional 8,552 shares in the last quarter. Rubric Capital Management LP increased its stake in Zevra Therapeutics by 60.8% during the 2nd quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company's stock worth $17,253,000 after buying an additional 740,584 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Zevra Therapeutics by 1,240.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 42,950 shares of the company's stock worth $378,000 after buying an additional 39,746 shares in the last quarter. Bank of America Corp DE increased its stake in Zevra Therapeutics by 150.4% during the 2nd quarter. Bank of America Corp DE now owns 223,852 shares of the company's stock worth $1,972,000 after buying an additional 134,437 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in Zevra Therapeutics by 15.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,168,000 shares of the company's stock worth $36,720,000 after buying an additional 550,000 shares in the last quarter. Hedge funds and other institutional investors own 35.03% of the company's stock.

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.