Flex Pharma Inc (FLKS) Position Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in Flex Pharma Inc (NASDAQ:FLKS) by 84.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 236,958 shares of the biotechnology company’s stock after acquiring an additional 108,358 shares during the quarter. Renaissance Technologies LLC owned 1.31% of Flex Pharma worth $223,000 at the end of the most recent reporting period.

Separately, JPMorgan Chase & Co. increased its stake in Flex Pharma by 10,889.2% in the first quarter. JPMorgan Chase & Co. now owns 37,583 shares of the biotechnology company’s stock valued at $188,000 after acquiring an additional 37,241 shares during the last quarter. 19.65% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the stock. ValuEngine raised shares of Flex Pharma from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research upgraded shares of Flex Pharma from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.30.

Shares of Flex Pharma stock opened at $0.51 on Friday. Flex Pharma Inc has a fifty-two week low of $0.39 and a fifty-two week high of $8.98.

Flex Pharma (NASDAQ:FLKS) last issued its earnings results on Monday, November 5th. The biotechnology company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. Flex Pharma had a negative net margin of 2,919.75% and a negative return on equity of 148.15%. The firm had revenue of $0.25 million for the quarter. On average, sell-side analysts expect that Flex Pharma Inc will post -1.23 EPS for the current year.

In other Flex Pharma news, major shareholder Christoph H. Westphal sold 3,212,861 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $0.92, for a total value of $2,955,832.12. Following the sale, the insider now owns 3,941,118 shares in the company, valued at $3,625,828.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.62% of the company’s stock.

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Flex Pharma Company Profile

Flex Pharma, Inc, a biotechnology company, develops and commercializes products for the treatment of muscle cramps, spasms, and spasticity associated with neurological conditions and exercise in the United States. It operates in two segments, Consumer Operations and Drug Development. The company's lead drug candidate is FLX-787, a single molecule, chemically synthesized, and dual transient receptor potential V1/A1 ion channel activator, which is in exploratory Phase 2 clinical trial in Australia for the treatment of patients with multiple sclerosis; and two Phase 2 clinical trials in the United States for the treatment of patients with motor neuron disease in amyotrophic lateral sclerosis.

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Institutional Ownership by Quarter for Flex Pharma (NASDAQ:FLKS)

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