Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Stake Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA) by 10.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,499 shares of the company’s stock after acquiring an additional 21,231 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.53% of Zevra Therapeutics worth $1,080,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ZVRA. Jump Financial LLC purchased a new position in Zevra Therapeutics during the fourth quarter valued at approximately $217,000. Focus Financial Network Inc. ADV purchased a new position in shares of Zevra Therapeutics during the 4th quarter valued at $141,000. Armistice Capital LLC acquired a new position in shares of Zevra Therapeutics in the fourth quarter worth $1,755,000. Virtu Financial LLC purchased a new stake in shares of Zevra Therapeutics during the fourth quarter worth $177,000. Finally, Mystic Asset Management Inc. boosted its position in Zevra Therapeutics by 15.4% during the first quarter. Mystic Asset Management Inc. now owns 266,297 shares of the company’s stock valued at $1,545,000 after purchasing an additional 35,514 shares during the last quarter. Institutional investors and hedge funds own 35.03% of the company’s stock.

Zevra Therapeutics Stock Performance

Shares of NASDAQ ZVRA opened at $8.06 on Friday. The business’s 50-day simple moving average is $7.04 and its 200-day simple moving average is $5.71. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.00 and a current ratio of 2.00. Zevra Therapeutics, Inc. has a 52 week low of $3.89 and a 52 week high of $8.95. The firm has a market cap of $337.34 million, a price-to-earnings ratio of -5.97 and a beta of 1.94.

Zevra Therapeutics (NASDAQ:ZVRA) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.01). Zevra Therapeutics had a negative net margin of 274.10% and a negative return on equity of 124.85%. The company had revenue of $4.45 million for the quarter, compared to analyst estimates of $4.08 million. During the same quarter last year, the business earned ($0.15) EPS. As a group, equities research analysts expect that Zevra Therapeutics, Inc. will post -1.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ZVRA shares. HC Wainwright upped their target price on Zevra Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday. Canaccord Genuity Group lowered their price target on Zevra Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday. William Blair raised shares of Zevra Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Zevra Therapeutics in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $21.25.

Insider Activity at Zevra Therapeutics

In other news, Director Thomas Anderson bought 10,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was purchased at an average price of $6.81 per share, with a total value of $68,100.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $136,200. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have bought 22,000 shares of company stock worth $140,340. 2.40% of the stock is owned by insiders.

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.