Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Sees Large Increase 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 target of a large growth in short interest during the month of August. As of August 15th, there was short interest totaling 6,360,000 shares, agrowthof37.1% from the July 31st total of 4,640,000 shares. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is presently 5.4 days. Approximately11.5% of the shares of the company are short sold. Approximately11.5% of the shares of the company are short sold. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is presently 5.4 days.

Zevra Therapeutics Stock Up 0.2%

Shares of ZVRA opened at $8.95 on Monday. The company has a market capitalization of $502.36 million, a P/E ratio of -42.62 and a beta of 1.56. Zevra Therapeutics has a one year low of $6.19 and a one year high of $13.16. The business's 50 day simple moving average is $10.57 and its 200-day simple moving average is $8.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 7.85 and a quick ratio of 7.81.

Insider Buying and Selling at Zevra Therapeutics

In other Zevra Therapeutics news, Director John B. Bode bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $9.16 per share, for a total transaction of $45,800.00. Following the purchase, the director directly owned 45,000 shares in the company, valued at $412,200. This trade represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On Zevra Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in Zevra Therapeutics by 51.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,565 shares of the company's stock worth $172,000 after buying an additional 6,966 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Zevra Therapeutics in the 4th quarter valued at $53,000. Millennium Management LLC raised its position 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 worth $1,944,000 after acquiring an additional 135,246 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Zevra Therapeutics by 25.4% during the fourth quarter. Deutsche Bank AG now owns 50,906 shares of the company's stock valued at $425,000 after acquiring an additional 10,306 shares during the period. Finally, ProShare Advisors LLC acquired a new position in shares of Zevra Therapeutics during the fourth quarter valued at $145,000. Institutional investors and hedge funds own 35.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ZVRA shares. 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. Wall Street Zen cut shares of Zevra Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 20th. Zacks Research lowered Zevra Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. HC Wainwright began 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. Finally, Cantor Fitzgerald raised 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. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.