Ameriprise Financial Inc. lowered its stake in shares of Flex Pharma, Inc. (NASDAQ:FLKS) by 46.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 386,320 shares of the biotechnology company’s stock after selling 337,028 shares during the period. Ameriprise Financial Inc. owned 2.30% of Flex Pharma worth $1,700,000 as of its most recent SEC filing.

Separately, C WorldWide Group Holding A S increased its stake in shares of Flex Pharma by 11.2% in the first quarter. C WorldWide Group Holding A S now owns 278,060 shares of the biotechnology company’s stock valued at $1,223,000 after buying an additional 28,060 shares during the period. Institutional investors own 29.17% of the company’s stock.

Shares of Flex Pharma, Inc. (NASDAQ FLKS) traded down 2.39% on Tuesday, hitting $3.67. 18,157 shares of the stock traded hands. Flex Pharma, Inc. has a one year low of $3.01 and a one year high of $12.68. The company’s market cap is $62.86 million. The stock has a 50 day moving average of $3.92 and a 200 day moving average of $3.96.

Flex Pharma (NASDAQ:FLKS) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.51) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.12. The firm had revenue of $0.34 million for the quarter, compared to analyst estimates of $0.46 million. Flex Pharma had a negative net margin of 2,410.97% and a negative return on equity of 64.15%. Equities analysts anticipate that Flex Pharma, Inc. will post ($2.42) earnings per share for the current year.

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A number of equities research analysts have commented on the stock. Jefferies Group LLC cut their target price on shares of Flex Pharma from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, May 4th. Zacks Investment Research downgraded shares of Flex Pharma from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Flex Pharma has a consensus rating of “Buy” and an average price target of $15.40.

Flex Pharma Company Profile

Flex Pharma, Inc is a biotechnology company. The Company develops treatments for nocturnal leg cramps, muscle cramps and spasms associated with severe neuromuscular conditions, and exercise associated muscle cramps (EAMCs). The Company’s product candidates activate certain receptors in primary sensory neurons, which then act through neuronal circuits to reduce the repetitive firing, or hyperexcitability, of alpha-motor neurons in the spinal cord, thereby preventing or reducing the frequency and intensity of muscle cramps and spasms.

Institutional Ownership by Quarter for Flex Pharma (NASDAQ:FLKS)

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