Jane Street Group LLC acquired a new position in shares of Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 24,588 shares of the company’s stock, valued at approximately $239,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ZYNE. JPMorgan Chase & Co. lifted its stake in Zynerba Pharmaceuticals by 385.6% during the first quarter. JPMorgan Chase & Co. now owns 12,217 shares of the company’s stock worth $106,000 after purchasing an additional 9,701 shares during the last quarter. Raymond James & Associates bought a new position in Zynerba Pharmaceuticals during the second quarter worth $164,000. Engineers Gate Manager LP bought a new position in Zynerba Pharmaceuticals during the second quarter worth $231,000. LMR Partners LLP bought a new position in Zynerba Pharmaceuticals during the second quarter worth $312,000. Finally, Wells Fargo & Company MN lifted its stake in Zynerba Pharmaceuticals by 19.6% during the first quarter. Wells Fargo & Company MN now owns 41,414 shares of the company’s stock worth $360,000 after purchasing an additional 6,782 shares during the last quarter. Hedge funds and other institutional investors own 14.39% of the company’s stock.
Several equities research analysts have weighed in on ZYNE shares. HC Wainwright set a $23.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, July 13th. Canaccord Genuity set a $18.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, July 13th. Cantor Fitzgerald set a $20.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, July 5th. Finally, ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $18.93.
Shares of NASDAQ ZYNE opened at $6.79 on Friday. Zynerba Pharmaceuticals Inc has a 1-year low of $5.59 and a 1-year high of $15.14. The firm has a market capitalization of $128.48 million, a price-to-earnings ratio of -2.74 and a beta of 4.52.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its earnings results on Thursday, August 2nd. The company reported ($0.89) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.77) by ($0.12). Equities analysts anticipate that Zynerba Pharmaceuticals Inc will post -3.13 EPS for the current fiscal year.
In other Zynerba Pharmaceuticals news, Chairman Armando Anido purchased 15,000 shares of the stock in a transaction dated Monday, August 6th. The shares were bought at an average cost of $5.96 per share, with a total value of $89,400.00. Following the completion of the acquisition, the chairman now owns 352,512 shares of the company’s stock, valued at $2,100,971.52. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO James E. Fickenscher purchased 8,518 shares of the stock in a transaction dated Monday, August 6th. The shares were acquired at an average cost of $5.97 per share, for a total transaction of $50,852.46. Following the completion of the acquisition, the chief financial officer now directly owns 20,718 shares of the company’s stock, valued at approximately $123,686.46. The disclosure for this purchase can be found here. Insiders acquired 32,318 shares of company stock worth $194,404 over the last ninety days. 12.67% of the stock is owned by corporate insiders.
Zynerba Pharmaceuticals Profile
Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing and commercializing pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric disorders. Its product candidates include ZYN002, which completed Phase II clinical trial for pediatric and adolescent patients with fragile X syndrome, pediatric and adolescent patients with developmental and epileptic encephalopathies, and adult patients with refractory epileptic focal seizures; and ZYN001 that is in Phase I clinical trial to treat Tourette syndrome.
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