Flex Pharma, Inc. (FLKS) Shares Sold by Tekla Capital Management LLC
Tekla Capital Management LLC decreased its position in Flex Pharma, Inc. (NASDAQ:FLKS) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,549 shares of the biotechnology company’s stock after selling 2,575 shares during the quarter. Tekla Capital Management LLC owned about 0.92% of Flex Pharma worth $614,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in FLKS. LMR Partners LLP acquired a new stake in shares of Flex Pharma in the second quarter valued at $104,000. Bank of New York Mellon Corp lifted its holdings in shares of Flex Pharma by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 42,053 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 487 shares during the period. Spark Investment Management LLC acquired a new stake in shares of Flex Pharma in the first quarter valued at $223,000. Royce & Associates LP lifted its holdings in shares of Flex Pharma by 255.1% in the first quarter. Royce & Associates LP now owns 242,200 shares of the biotechnology company’s stock valued at $1,066,000 after buying an additional 174,000 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Flex Pharma by 69.5% in the second quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock valued at $2,520,000 after buying an additional 268,505 shares during the period. Institutional investors and hedge funds own 27.74% of the company’s stock.
Several brokerages have recently weighed in on FLKS. Cantor Fitzgerald restated a “hold” rating and issued a $10.00 price objective on shares of Flex Pharma in a report on Monday, September 25th. Roth Capital began coverage on Flex Pharma in a report on Thursday, September 7th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, Zacks Investment Research upgraded Flex Pharma from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Flex Pharma currently has an average rating of “Buy” and a consensus target price of $15.17.
Shares of Flex Pharma, Inc. (NASDAQ FLKS) traded up 1.49% during midday trading on Friday, hitting $3.41. The stock had a trading volume of 40,208 shares. The firm’s market capitalization is $58.94 million. Flex Pharma, Inc. has a one year low of $3.28 and a one year high of $11.99. The firm’s 50-day moving average price is $3.46 and its 200-day moving average price is $3.46.
Flex Pharma (NASDAQ:FLKS) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.12. Flex Pharma had a negative return on equity of 64.15% and a negative net margin of 2,410.97%. The business had revenue of $0.34 million for the quarter, compared to analyst estimates of $0.46 million. On average, equities analysts predict that Flex Pharma, Inc. will post ($2.34) EPS for the current year.
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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.
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