PDT Partners LLC bought a new position in Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) during the second quarter, according to its most recent filing with the SEC. The firm bought 19,692 shares of the company’s stock, valued at approximately $66,000. PDT Partners LLC owned approximately 0.07% of Zynerba Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Prentice Capital Management LP boosted its stake in Zynerba Pharmaceuticals by 62.9% in the 1st quarter. Prentice Capital Management LP now owns 341,436 shares of the company’s stock worth $1,308,000 after purchasing an additional 131,820 shares during the period. Sphera Funds Management LTD. purchased a new stake in Zynerba Pharmaceuticals in the 1st quarter worth approximately $383,000. AdvisorShares Investments LLC grew its stake in Zynerba Pharmaceuticals by 30.9% in the 1st quarter. AdvisorShares Investments LLC now owns 352,968 shares of the company’s stock worth $1,352,000 after acquiring an additional 83,253 shares during the period. Zeke Capital Advisors LLC grew its stake in Zynerba Pharmaceuticals by 9.9% in the 2nd quarter. Zeke Capital Advisors LLC now owns 442,104 shares of the company’s stock worth $1,490,000 after acquiring an additional 39,892 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Zynerba Pharmaceuticals by 164.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 59,791 shares of the company’s stock worth $201,000 after acquiring an additional 37,195 shares during the period. Institutional investors own 25.99% of the company’s stock.

Several analysts have commented on the stock. Canaccord Genuity lowered their target price on shares of Zynerba Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Cantor Fitzgerald decreased their price target on shares of Zynerba Pharmaceuticals from $24.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Zacks Investment Research reiterated a “buy” rating and issued a $6.25 price target on shares of Zynerba Pharmaceuticals in a report on Saturday, May 30th. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $26.00 price target on shares of Zynerba Pharmaceuticals in a report on Monday, June 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zynerba Pharmaceuticals in a report on Monday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $12.91.

NASDAQ:ZYNE opened at $3.57 on Wednesday. Zynerba Pharmaceuticals Inc has a twelve month low of $2.55 and a twelve month high of $12.22. The firm has a market capitalization of $104.44 million, a price-to-earnings ratio of -1.93 and a beta of 2.97. The firm’s fifty day simple moving average is $3.81 and its 200 day simple moving average is $4.18.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.33). Equities research analysts forecast that Zynerba Pharmaceuticals Inc will post -2.13 EPS for the current year.

Zynerba Pharmaceuticals Profile

Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. It focuses on developing pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. The company is developing Zygel, a transdermal cannabidiol gel, which is in Phase II clinical trial for treating children and adolescent patients with developmental and epileptic encephalopathies; is in Phase II/III clinical trial to treat children and adolescent patients with fragile X syndrome; and is in Phase II clinical trial for treating children and adolescent patients with autism spectrum disorder.

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

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