Bank of New York Mellon Corp Cuts Stock Holdings in Zevra Therapeutics, Inc. (NASDAQ:ZVRA)

Bank of New York Mellon Corp decreased its position in shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 25.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,487 shares of the company's stock after selling 37,365 shares during the period. Bank of New York Mellon Corp owned about 0.20% of Zevra Therapeutics worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in shares of Zevra Therapeutics in the 3rd quarter valued at $95,000. Charles Schwab Investment Management Inc. grew its position in Zevra Therapeutics by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 121,356 shares of the company's stock valued at $842,000 after acquiring an additional 11,038 shares during the last quarter. FMR LLC raised its stake 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 acquiring an additional 2,312,384 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Zevra Therapeutics in the third quarter worth about $140,000. Finally, Propel Bio Management LLC bought a new position in shares of Zevra Therapeutics in the third quarter valued at approximately $1,248,000. 35.03% of the stock is owned by institutional investors.

Zevra Therapeutics Trading Down 1.6 %

Shares of Zevra Therapeutics stock traded down $0.13 during trading on Friday, reaching $7.84. The company's stock had a trading volume of 52,559 shares, compared to its average volume of 588,398. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.84. Zevra Therapeutics, Inc. has a 52-week low of $4.20 and a 52-week high of $9.76. The firm's 50-day moving average is $7.90 and its two-hundred day moving average is $8.19. The company has a market cap of $424.00 million, a price-to-earnings ratio of -3.98 and a beta of 1.98.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ZVRA shares. JMP Securities set a $18.00 target price on shares of Zevra Therapeutics in a research note on Wednesday, March 12th. HC Wainwright reiterated a "buy" rating and set a $20.00 price target on shares of Zevra Therapeutics in a report on Thursday, March 13th. Guggenheim lifted their target price on Zevra Therapeutics from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, March 13th. Citigroup restated an "outperform" rating on shares of Zevra Therapeutics in a research note on Wednesday, March 12th. Finally, Canaccord Genuity Group upped their price target on Zevra Therapeutics from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, March 13th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $22.29.

Insider Buying and Selling

In related news, CFO R. Laduane Clifton sold 11,000 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $7.86, for a total value of $86,460.00. Following the completion of the sale, the chief financial officer now owns 51,361 shares of the company's stock, valued at $403,697.46. This trade represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joshua Schafer sold 10,500 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.86, for a total transaction of $82,530.00. Following the transaction, the executive vice president now owns 29,486 shares in the company, valued at $231,759.96. This represents a 26.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,773 shares of company stock valued at $674,176 over the last three months. 2.40% of the stock is owned by company insiders.

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.