Short Interest in Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Expands By 37.1%

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 6,360,000 shares, a growth of 37.1% from the July 31st total of 4,640,000 shares. Approximately 11.5% of the shares of the company are short sold. Based on an average daily volume of 1,170,000 shares, the days-to-cover ratio is presently 5.4 days. Based on an average daily volume of 1,170,000 shares, the days-to-cover ratio is presently 5.4 days. Approximately 11.5% of the shares of the company are short sold.

Insider Buying and Selling at Zevra Therapeutics

In related news, Director John B. Bode purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $9.16 per share, with a total value of $45,800.00. Following the acquisition, the director owned 45,000 shares in the company, valued at approximately $412,200. This trade represents a 12.50% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. boosted its position in shares of Zevra Therapeutics by 30.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,541 shares of the company’s stock valued at $49,000 after purchasing an additional 1,280 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Zevra Therapeutics in the fourth quarter worth $53,000. GAMMA Investing LLC grew its holdings in shares of Zevra Therapeutics by 20,564.1% during the first quarter. GAMMA Investing LLC now owns 8,059 shares of the company’s stock valued at $60,000 after buying an additional 8,020 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Zevra Therapeutics by 617.5% during the second quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company’s stock valued at $88,000 after buying an additional 8,552 shares during the period. Finally, Creative Planning purchased a new stake in Zevra Therapeutics in the 2nd quarter worth about $92,000. Institutional investors and hedge funds own 35.03% of the company’s stock.

Zevra Therapeutics Stock Down 1.4%

ZVRA opened at $8.21 on Wednesday. The stock’s fifty day moving average is $10.55 and its 200-day moving average is $8.90. Zevra Therapeutics has a one year low of $6.19 and a one year high of $13.16. The company has a market capitalization of $460.83 million, a PE ratio of -39.10 and a beta of 1.56. The company has a debt-to-equity ratio of 0.52, a quick ratio of 7.81 and a current ratio of 7.85.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ZVRA shares. HC Wainwright initiated coverage on Zevra Therapeutics in a research note on Wednesday, July 2nd. They issued a “buy” rating and a $26.00 target price on the stock. Cantor Fitzgerald lifted their price objective on shares of Zevra Therapeutics from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Zacks Research cut shares of Zevra Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Wall Street Zen lowered shares of Zevra Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 20th. Finally, JMP Securities reduced their price objective on Zevra Therapeutics from $19.00 to $18.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 13th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.71.

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.