Vanguard Group Inc. grew its holdings in shares of Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) by 23.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 651,400 shares of the company’s stock after purchasing an additional 125,327 shares during the quarter. Vanguard Group Inc. owned about 3.69% of Zynerba Pharmaceuticals worth $5,316,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in Zynerba Pharmaceuticals in the 3rd quarter worth $612,000. BlackRock Inc. increased its holdings in shares of Zynerba Pharmaceuticals by 25.2% during the 3rd quarter. BlackRock Inc. now owns 298,355 shares of the company’s stock worth $2,435,000 after purchasing an additional 59,998 shares during the period. Engineers Gate Manager LP increased its holdings in shares of Zynerba Pharmaceuticals by 179.8% during the 3rd quarter. Engineers Gate Manager LP now owns 66,270 shares of the company’s stock worth $541,000 after purchasing an additional 42,583 shares during the period. Zeke Capital Advisors LLC bought a new position in shares of Zynerba Pharmaceuticals during the 3rd quarter worth about $193,000. Finally, GSA Capital Partners LLP bought a new position in shares of Zynerba Pharmaceuticals during the 3rd quarter worth about $177,000. Institutional investors and hedge funds own 12.86% of the company’s stock.
Shares of NASDAQ ZYNE traded down $0.07 during trading on Tuesday, reaching $5.65. The company had a trading volume of 460,162 shares, compared to its average volume of 1,087,509. Zynerba Pharmaceuticals Inc has a 52 week low of $2.75 and a 52 week high of $12.50. The company has a market cap of $122.21 million, a PE ratio of -2.16 and a beta of 4.93.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its earnings results on Monday, March 11th. The company reported ($0.44) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.65) by $0.21. The company had revenue of $0.09 million during the quarter. As a group, research analysts expect that Zynerba Pharmaceuticals Inc will post -2.1 earnings per share for the current year.
Several research analysts have recently issued reports on ZYNE shares. Cantor Fitzgerald set a $21.00 price objective on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, December 5th. Zacks Investment Research upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Saturday, January 19th. ValuEngine lowered shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Finally, HC Wainwright restated a “buy” rating on shares of Zynerba Pharmaceuticals in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Zynerba Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $14.00.
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About Zynerba Pharmaceuticals
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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