Zevra Therapeutics, Inc. (NASDAQ:ZVRA – Get Free Report) saw some unusual options trading activity on Tuesday. Investors purchased 2,300 call options on the stock. This represents an increase of approximately 100% compared to the typical daily volume of 1,150 call options.
Institutional Trading of Zevra Therapeutics
A number of institutional investors have recently made changes to their positions in the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Zevra Therapeutics in the fourth quarter worth approximately $53,000. Russell Investments Group Ltd. lifted its position in Zevra Therapeutics by 235.7% during the third quarter. Russell Investments Group Ltd. now owns 6,374 shares of the company’s stock valued at $61,000 after purchasing an additional 4,475 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Zevra Therapeutics by 617.5% in the second quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company’s stock worth $88,000 after purchasing an additional 8,552 shares during the last quarter. Creative Planning purchased a new stake in Zevra Therapeutics in the second quarter worth approximately $92,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Zevra Therapeutics during the 2nd quarter valued at $99,000. Hedge funds and other institutional investors own 35.03% of the company’s stock.
Zevra Therapeutics Trading Up 12.3%
Zevra Therapeutics stock traded up $1.49 during mid-day trading on Tuesday, hitting $13.58. The company had a trading volume of 1,926,175 shares, compared to its average volume of 1,247,809. Zevra Therapeutics has a 12 month low of $7.16 and a 12 month high of $13.78. The company has a market capitalization of $802.73 million, a PE ratio of 6.82 and a beta of 0.91. The stock’s 50 day moving average price is $10.37 and its two-hundred day moving average price is $9.39.
Analyst Upgrades and Downgrades
Several brokerages have commented on ZVRA. BTIG Research initiated coverage on shares of Zevra Therapeutics in a report on Monday, March 16th. They issued a “buy” rating and a $23.00 price objective for the company. Canaccord Genuity Group lifted their price target on Zevra Therapeutics from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday. Citigroup reaffirmed an “outperform” rating on shares of Zevra Therapeutics in a research note on Tuesday. Weiss Ratings downgraded Zevra Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Finally, Cantor Fitzgerald raised their price objective on Zevra Therapeutics from $24.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Zevra Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $27.00.
View Our Latest Stock Analysis on Zevra Therapeutics
About Zevra Therapeutics
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.
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