Zevra Therapeutics (NASDAQ:ZVRA) Sees Strong Trading Volume – Here’s What Happened

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) saw strong trading volume on Wednesday . Approximately 1,288,747 shares traded hands during trading, an increase of 20% from the previous session’s volume of 1,069,613 shares.The stock last traded at $9.8550 and had previously closed at $11.06.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ZVRA. Weiss Ratings upgraded Zevra Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday. Guggenheim set a $23.00 target price on Zevra Therapeutics and gave the company a “buy” rating in a research report on Tuesday. Finally, HC Wainwright set a $26.00 target price on Zevra Therapeutics in a research note on Tuesday, December 30th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Zevra Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Zevra Therapeutics Price Performance

The company has a current ratio of 5.68, a quick ratio of 8.57 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average is $8.90 and its 200 day moving average is $9.09. The company has a market cap of $603.83 million, a P/E ratio of 7.75 and a beta of 0.91.

Insider Transactions at Zevra Therapeutics

In other news, CEO Neil F. Mcfarlane sold 91,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $9.38, for a total transaction of $853,580.00. Following the completion of the transaction, the chief executive officer owned 364,350 shares in the company, valued at approximately $3,417,603. This represents a 19.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy J. Sangiovanni sold 3,000 shares of Zevra Therapeutics stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $9.18, for a total value of $27,540.00. Following the completion of the sale, the senior vice president directly owned 29,590 shares of the company’s stock, valued at approximately $271,636.20. This trade represents a 9.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 114,158 shares of company stock worth $1,062,878 over the last quarter. 2.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Zevra Therapeutics

A number of institutional investors have recently modified their holdings of the business. CWM LLC grew its stake in Zevra Therapeutics by 399.5% in the 3rd quarter. CWM LLC now owns 2,872 shares of the company’s stock valued at $27,000 after buying an additional 2,297 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Zevra Therapeutics by 30.0% during the second quarter. Ameritas Investment Partners Inc. now owns 5,541 shares of the company’s stock worth $49,000 after acquiring an additional 1,280 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Zevra Therapeutics in the fourth quarter worth $53,000. Russell Investments Group Ltd. boosted its holdings in shares of Zevra Therapeutics by 235.7% in the third quarter. Russell Investments Group Ltd. now owns 6,374 shares of the company’s stock worth $61,000 after acquiring an additional 4,475 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Zevra Therapeutics by 617.5% in the second quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company’s stock valued at $88,000 after purchasing an additional 8,552 shares in the last quarter. 35.03% of the stock is currently owned by hedge funds and other institutional investors.

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. The company is also developing Celiprolol, a prodrug product candidate that is under Phase 1/2 clinical trial for the treatment of vascular Ehlers Danlos syndrome.