VYNE Therapeutics (NASDAQ:VYNE) Trading Up 4.1% – Here’s What Happened

VYNE Therapeutics Inc. (NASDAQ:VYNE)’s stock price was up 4.1% on Thursday . The company traded as high as $1.85 and last traded at $1.78. Approximately 220,884 shares traded hands during mid-day trading, an increase of 161% from the average daily volume of 84,516 shares. The stock had previously closed at $1.71.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and set a $5.75 price objective on shares of VYNE Therapeutics in a report on Thursday, March 6th.

VYNE Therapeutics Trading Up 4.1 %

The company’s fifty day moving average is $2.32 and its 200-day moving average is $2.50. The firm has a market capitalization of $27.07 million, a P/E ratio of -2.07 and a beta of 1.13.

VYNE Therapeutics (NASDAQ:VYNE) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. The company had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $0.14 million. VYNE Therapeutics had a negative net margin of 6,896.55% and a negative return on equity of 43.73%. On average, equities research analysts anticipate that VYNE Therapeutics Inc. will post -0.97 EPS for the current year.

Insiders Place Their Bets

In related news, Director Patrick G. Lepore purchased 15,000 shares of VYNE Therapeutics stock in a transaction on Wednesday, January 15th. The stock was purchased at an average cost of $2.92 per share, with a total value of $43,800.00. Following the acquisition, the director now directly owns 51,472 shares in the company, valued at approximately $150,298.24. This trade represents a 41.13 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in VYNE. Acorn Capital Advisors LLC bought a new position in VYNE Therapeutics during the fourth quarter valued at about $1,531,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of VYNE Therapeutics during the fourth quarter valued at approximately $823,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of VYNE Therapeutics during the fourth quarter valued at approximately $516,000. Bridgeway Capital Management LLC acquired a new position in shares of VYNE Therapeutics in the fourth quarter valued at $124,000. Finally, XTX Topco Ltd bought a new position in VYNE Therapeutics in the fourth quarter worth $70,000. Institutional investors and hedge funds own 83.78% of the company’s stock.

About VYNE Therapeutics

VYNE Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing proprietary and therapeutics for the treatment of immuno-inflammatory conditions. The company's lead product is VYN201, a locally administered pan- bromodomain and extra-terminal (BET) inhibitor soft drug to address diseases involving multiple, diverse inflammatory cell signaling pathways with low systemic exposure.