Flex Pharma Inc (NASDAQ:FLKS) major shareholder Boston Foundation, Inc. sold 263,000 shares of Flex Pharma stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $0.40, for a total transaction of $105,200.00. Following the transaction, the insider now owns 1,937,000 shares of the company’s stock, valued at $774,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
FLKS stock opened at $0.35 on Friday. Flex Pharma Inc has a 52-week low of $0.26 and a 52-week high of $8.98.
Flex Pharma (NASDAQ:FLKS) last released its earnings results on Monday, November 5th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter.
A hedge fund recently raised its stake in Flex Pharma stock. Renaissance Technologies LLC increased its position in Flex Pharma Inc (NASDAQ:FLKS) by 84.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 236,958 shares of the biotechnology company’s stock after acquiring an additional 108,358 shares during the period. Renaissance Technologies LLC owned about 1.31% of Flex Pharma worth $223,000 at the end of the most recent reporting period. 12.77% of the stock is currently owned by institutional investors and hedge funds.
FLKS has been the subject of several recent research reports. ValuEngine upgraded shares of Flex Pharma from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded shares of Flex Pharma from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Flex Pharma currently has a consensus rating of “Hold” and a consensus price target of $14.88.
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About Flex Pharma
Flex Pharma, Inc operates as a biotechnology company. It engages in developing treatments for exercise-associated muscle cramps, nocturnal leg cramps and spasms associated with severe neuromuscular conditions. The company operates through the following business segments: Consumer Operations and Drug Development.
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