Bank of New York Mellon Corp Sells 37,365 Shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA)

Bank of New York Mellon Corp trimmed its holdings in shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA) by 25.6% during the fourth quarter, HoldingsChannel reports. The firm owned 108,487 shares of the company’s stock after selling 37,365 shares during the quarter. Bank of New York Mellon Corp’s holdings in Zevra Therapeutics were worth $905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its holdings in Zevra Therapeutics by 282,687.5% during the third quarter. FMR LLC now owns 2,313,202 shares of the company’s stock worth $16,054,000 after buying an additional 2,312,384 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Zevra Therapeutics by 14.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,043,864 shares of the company’s stock worth $7,246,000 after purchasing an additional 129,600 shares during the last quarter. State Street Corp raised its holdings in shares of Zevra Therapeutics by 7.4% in the 3rd quarter. State Street Corp now owns 772,825 shares of the company’s stock worth $5,363,000 after purchasing an additional 52,966 shares during the period. Stonepine Capital Management LLC bought a new position in Zevra Therapeutics during the third quarter valued at $4,858,000. Finally, Vestal Point Capital LP purchased a new stake in Zevra Therapeutics in the third quarter worth $3,644,000. 35.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Guggenheim upped their price target on Zevra Therapeutics from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, March 13th. JMP Securities set a $18.00 price objective on shares of Zevra Therapeutics in a report on Wednesday, March 12th. Citigroup reiterated an “outperform” rating on shares of Zevra Therapeutics in a research note on Wednesday, March 12th. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price target on shares of Zevra Therapeutics in a research note on Wednesday, March 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Zevra Therapeutics in a report on Thursday, March 13th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $22.29.

Insider Buying and Selling

In other news, CFO R. Laduane Clifton sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.86, for a total transaction of $86,460.00. Following the completion of the transaction, the chief financial officer now owns 51,361 shares of the company’s stock, valued at approximately $403,697.46. The trade was a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Bode acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average price of $7.96 per share, for a total transaction of $79,600.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at $318,400. The trade was a 33.33 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 85,773 shares of company stock worth $674,176. Corporate insiders own 2.40% of the company’s stock.

Zevra Therapeutics Trading Down 0.7 %

Shares of Zevra Therapeutics stock opened at $8.15 on Wednesday. The company’s 50-day moving average price is $7.91 and its 200-day moving average price is $8.20. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.84. Zevra Therapeutics, Inc. has a 12-month low of $4.20 and a 12-month high of $9.76. The company has a market cap of $441.05 million, a price-to-earnings ratio of -4.14 and a beta of 1.98.

Zevra Therapeutics (NASDAQ:ZVRA) last posted its earnings results on Tuesday, March 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.28). Zevra Therapeutics had a negative return on equity of 159.54% and a negative net margin of 342.63%. The firm had revenue of $12.00 million during the quarter, compared to analysts’ expectations of $8.93 million. On average, equities analysts expect that Zevra Therapeutics, Inc. will post -1.95 earnings per share for the current fiscal year.

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.