Jane Street Group LLC Invests $239,000 in Zynerba Pharmaceuticals Inc (ZYNE) Stock

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.

Featured Article: How can you know how many shares are floating?

Want to see what other hedge funds are holding ZYNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE).

Institutional Ownership by Quarter for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

Receive News & Ratings for Zynerba Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynerba Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply