Zynerba Pharmaceuticals Sees Unusually Large Options Volume (ZYNE)
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) was the recipient of unusually large options trading on Monday. Stock investors purchased 7,953 put options on the stock. This is an increase of approximately 726% compared to the typical volume of 963 put options.
Shares of Zynerba Pharmaceuticals (ZYNE) opened at 7.60 on Thursday. Zynerba Pharmaceuticals has a 1-year low of $6.20 and a 1-year high of $25.95. The company’s market cap is $100.75 million. The stock has a 50 day moving average price of $17.54 and a 200-day moving average price of $19.50.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings results on Tuesday, August 1st. The company reported ($0.64) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.60) by $0.04. Equities research analysts forecast that Zynerba Pharmaceuticals will post ($2.46) earnings per share for the current year.
In other news, Chairman Armando Anido purchased 5,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was purchased at an average price of $19.70 per share, with a total value of $98,500.00. Following the completion of the purchase, the chairman now directly owns 336,012 shares in the company, valued at approximately $6,619,436.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO James E. Fickenscher purchased 5,200 shares of the company’s stock in a transaction on Friday, May 12th. The shares were purchased at an average cost of $19.82 per share, with a total value of $103,064.00. Following the purchase, the chief financial officer now owns 12,200 shares of the company’s stock, valued at $241,804. The disclosure for this purchase can be found here. Insiders own 10.02% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ZYNE. JPMorgan Chase & Co. increased its position in shares of Zynerba Pharmaceuticals by 65,190.0% in the second quarter. JPMorgan Chase & Co. now owns 326,450 shares of the company’s stock worth $5,539,000 after buying an additional 325,950 shares during the last quarter. Chartwell Investment Partners LLC increased its stake in shares of Zynerba Pharmaceuticals by 19.9% in the second quarter. Chartwell Investment Partners LLC now owns 90,378 shares of the company’s stock valued at $1,534,000 after buying an additional 14,978 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Zynerba Pharmaceuticals by 192.1% in the second quarter. Bank of New York Mellon Corp now owns 35,529 shares of the company’s stock valued at $602,000 after buying an additional 23,364 shares during the last quarter. Rhumbline Advisers purchased a new stake in shares of Zynerba Pharmaceuticals during the second quarter valued at about $232,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of Zynerba Pharmaceuticals during the second quarter valued at about $326,000. 31.08% of the stock is owned by hedge funds and other institutional investors.
ZYNE has been the subject of several research analyst reports. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $32.00 price target on shares of Zynerba Pharmaceuticals in a research note on Thursday, May 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price target on shares of Zynerba Pharmaceuticals in a research note on Tuesday. BidaskClub raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. set a $8.00 price target on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.89.
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About Zynerba Pharmaceuticals
Zynerba Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company is engaged in developing and commercializing transdermal synthetic cannabinoid treatments for patients with high unmet needs. Its development pipeline includes two product candidates: ZYN002 and ZYN001. ZYN002 is a synthetic cannabidiol (CBD), which is a non-psychoactive cannabinoid, formulated as a patent-protected permeation-enhanced gel for transdermal delivery through the skin and into the circulatory system.
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