Nationwide Fund Advisors Has $203,000 Position in Zogenix, Inc. (ZGNX)
Nationwide Fund Advisors increased its stake in shares of Zogenix, Inc. (NASDAQ:ZGNX) by 29.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,748 shares of the company’s stock after buying an additional 4,266 shares during the period. Nationwide Fund Advisors owned about 0.08% of Zogenix worth $203,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in ZGNX. Dimensional Fund Advisors LP raised its position in Zogenix by 101.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 216,814 shares of the company’s stock worth $2,634,000 after buying an additional 109,134 shares in the last quarter. A.R.T. Advisors LLC acquired a new position in Zogenix during the fourth quarter worth approximately $154,000. Finally, Candriam Luxembourg S.C.A. raised its position in Zogenix by 62.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 243,000 shares of the company’s stock worth $2,637,000 after buying an additional 93,000 shares in the last quarter. 87.21% of the stock is currently owned by institutional investors and hedge funds.
Zogenix, Inc. (NASDAQ:ZGNX) traded up 2.38% during midday trading on Friday, hitting $12.90. The stock had a trading volume of 225,945 shares. The company’s market capitalization is $320.09 million. Zogenix, Inc. has a 52 week low of $7.50 and a 52 week high of $15.40. The company’s 50-day moving average price is $14.08 and its 200 day moving average price is $11.66.
Zogenix (NASDAQ:ZGNX) last announced its earnings results on Thursday, May 4th. The company reported ($0.85) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.88) by $0.03. Zogenix had a negative net margin of 360.89% and a negative return on equity of 57.74%. The business had revenue of $2.70 million during the quarter, compared to the consensus estimate of $4.23 million. During the same quarter last year, the firm earned ($0.42) earnings per share. The business’s revenue for the quarter was down 70.7% on a year-over-year basis. On average, analysts expect that Zogenix, Inc. will post ($3.63) EPS for the current year.
A number of research firms have commented on ZGNX. Zacks Investment Research lowered Zogenix from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub downgraded Zogenix from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $26.00 target price on shares of Zogenix in a research report on Monday, June 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $23.00.
In other Zogenix news, major shareholder Life Sciences Maste Perceptive bought 175,653 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was acquired at an average price of $14.45 per share, with a total value of $2,538,185.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.00% of the stock is currently owned by company insiders.
Zogenix, Inc is a pharmaceutical company engaged in developing and commercializing central nervous system (CNS) therapies that address specific clinical needs for people living with orphan and other CNS disorders. Its primary area of therapeutic focus is epilepsy and related seizure disorders. Its lead product candidate, ZX008, is a low-dose fenfluramine for the treatment of seizures associated with Dravet syndrome.
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