Nantahala Capital Management LLC Sells 33,970 Shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA)

Nantahala Capital Management LLC lessened its stake in shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,419,435 shares of the company’s stock after selling 33,970 shares during the period. Zevra Therapeutics accounts for approximately 0.7% of Nantahala Capital Management LLC’s holdings, making the stock its 22nd biggest position. Nantahala Capital Management LLC owned 5.78% of Zevra Therapeutics worth $11,855,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in Zevra Therapeutics by 15.2% during the second quarter. The Manufacturers Life Insurance Company now owns 18,573 shares of the company’s stock valued at $91,000 after purchasing an additional 2,452 shares in the last quarter. Rhumbline Advisers raised its position in shares of Zevra Therapeutics by 17.9% during the 2nd quarter. Rhumbline Advisers now owns 56,874 shares of the company’s stock valued at $279,000 after buying an additional 8,619 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Zevra Therapeutics in the 1st quarter valued at about $64,000. Jacobs Levy Equity Management Inc. grew its position in Zevra Therapeutics by 102.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 34,707 shares of the company’s stock worth $201,000 after acquiring an additional 17,557 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Zevra Therapeutics by 10.7% during the second quarter. Bank of New York Mellon Corp now owns 220,499 shares of the company’s stock worth $1,080,000 after acquiring an additional 21,231 shares during the last quarter. Hedge funds and other institutional investors own 35.03% of the company’s stock.

Insider Activity

In other news, Director Thomas Anderson acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were bought at an average price of $6.81 per share, with a total value of $68,100.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $136,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders purchased 22,000 shares of company stock valued at $140,340. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

ZVRA has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zevra Therapeutics in a research note on Wednesday, August 14th. Maxim Group raised their price target on Zevra Therapeutics from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Canaccord Genuity Group cut their price objective on shares of Zevra Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. William Blair upgraded shares of Zevra Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Finally, JMP Securities started coverage on shares of Zevra Therapeutics in a report on Tuesday, September 24th. They set an “outperform” rating and a $17.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $21.00.

Zevra Therapeutics Stock Up 0.3 %

NASDAQ:ZVRA opened at $6.94 on Tuesday. The company has a market cap of $290.46 million, a price-to-earnings ratio of -5.14 and a beta of 1.94. Zevra Therapeutics, Inc. has a twelve month low of $3.89 and a twelve month high of $8.95. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.80. The stock has a fifty day simple moving average of $7.16 and a 200-day simple moving average of $5.75.

Zevra Therapeutics (NASDAQ:ZVRA) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.01). The company had revenue of $4.45 million for the quarter, compared to the consensus estimate of $4.08 million. Zevra Therapeutics had a negative net margin of 274.10% and a negative return on equity of 124.85%. During the same quarter in the previous year, the business earned ($0.15) EPS. Analysts anticipate that Zevra Therapeutics, Inc. will post -1.59 EPS for the current year.

About Zevra Therapeutics

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.