AIGH Capital Management LLC Makes New $6.58 Million Investment in Zevra Therapeutics, Inc. (NASDAQ:ZVRA)

AIGH Capital Management LLC bought a new stake in Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 788,614 shares of the company's stock, valued at approximately $6,577,000. Zevra Therapeutics comprises approximately 2.1% of AIGH Capital Management LLC's holdings, making the stock its 18th biggest holding. AIGH Capital Management LLC owned about 1.48% of Zevra Therapeutics at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in Zevra Therapeutics by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 27,490 shares of the company's stock worth $229,000 after purchasing an additional 9,225 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Zevra Therapeutics during the fourth quarter worth about $221,000. Corebridge Financial Inc. raised its stake in Zevra Therapeutics by 16.9% during the 4th quarter. Corebridge Financial Inc. now owns 26,294 shares of the company's stock valued at $219,000 after acquiring an additional 3,801 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Zevra Therapeutics by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 2,824,212 shares of the company's stock worth $23,554,000 after purchasing an additional 68,151 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. lifted its holdings in shares of Zevra Therapeutics by 3.1% during the fourth quarter. Retirement Planning Co of New England Inc. now owns 514,832 shares of the company's stock worth $4,294,000 after purchasing an additional 15,327 shares during the period. Hedge funds and other institutional investors own 35.03% of the company's stock.

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Insider Activity at Zevra Therapeutics

In other Zevra Therapeutics news, CEO Neil F. Mcfarlane sold 61,273 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.86, for a total transaction of $481,605.78. Following the completion of the sale, the chief executive officer now directly owns 222,060 shares in the company, valued at $1,745,391.60. The trade was a 21.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO R. Laduane Clifton sold 11,000 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were 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 directly owns 51,361 shares in the company, valued at approximately $403,697.46. This represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,773 shares of company stock valued at $674,176. 2.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on ZVRA shares. Cantor Fitzgerald restated an "overweight" rating and set a $25.00 price objective on shares of Zevra Therapeutics in a research report on Wednesday, March 12th. JMP Securities set a $18.00 price target on shares of Zevra Therapeutics in a report on Wednesday, March 12th. HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of Zevra Therapeutics in a research report on Thursday, March 13th. Canaccord Genuity Group raised their price target on Zevra Therapeutics from $23.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, March 13th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Zevra Therapeutics in a report on Wednesday, March 12th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $22.29.

Zevra Therapeutics Price Performance

NASDAQ:ZVRA traded down $0.29 during mid-day trading on Thursday, hitting $7.37. 154,345 shares of the company's stock traded hands, compared to its average volume of 428,682. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.88 and a current ratio of 2.88. The company has a market cap of $398.83 million, a PE ratio of -3.74 and a beta of 1.98. The firm's 50 day simple moving average is $7.86 and its 200 day simple moving average is $8.20. Zevra Therapeutics, Inc. has a 1 year low of $4.20 and a 1 year high of $9.76.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last issued its quarterly earnings data on Tuesday, March 11th. The company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.28). The business had revenue of $12.00 million for the quarter, compared to analysts' expectations of $8.93 million. Zevra Therapeutics had a negative return on equity of 159.54% and a negative net margin of 342.63%. Sell-side analysts expect that Zevra Therapeutics, Inc. will post -1.95 EPS for the current 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.