RA Capital Management LLC Reduces Position in Zogenix, Inc. (ZGNX)
RA Capital Management LLC reduced its position in shares of Zogenix, Inc. (NASDAQ:ZGNX) by 39.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,474,688 shares of the company’s stock after selling 976,549 shares during the period. Zogenix comprises approximately 2.5% of RA Capital Management LLC’s holdings, making the stock its 13th largest holding. RA Capital Management LLC owned about 5.94% of Zogenix worth $21,383,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Zogenix during the 2nd quarter valued at approximately $100,000. American International Group Inc. raised its position in shares of Zogenix by 7.1% during the 1st quarter. American International Group Inc. now owns 15,278 shares of the company’s stock valued at $166,000 after acquiring an additional 1,010 shares in the last quarter. Stifel Financial Corp acquired a new stake in shares of Zogenix during the 2nd quarter valued at approximately $175,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Zogenix during the 1st quarter valued at approximately $185,000. Finally, Nationwide Fund Advisors raised its position in shares of Zogenix by 29.5% during the 1st quarter. Nationwide Fund Advisors now owns 18,748 shares of the company’s stock valued at $203,000 after acquiring an additional 4,266 shares in the last quarter. 87.21% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Life Sciences Maste Perceptive bought 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was acquired at an average price of $37.50 per share, for a total transaction of $11,250,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 5.00% of the stock is owned by company insiders.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Zogenix from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and set a $55.00 price target (up from $26.00) on shares of Zogenix in a research report on Friday, September 29th. BidaskClub lowered Zogenix from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. ValuEngine raised Zogenix from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, William Blair raised Zogenix from a “market perform” rating to an “outperform” rating in a research report on Friday, September 29th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $40.00.
Zogenix, Inc. (ZGNX) traded down 1.82% during midday trading on Friday, hitting $37.85. The company had a trading volume of 496,898 shares. The company’s 50 day moving average is $16.98 and its 200-day moving average is $13.64. The company’s market cap is $940.23 million. Zogenix, Inc. has a one year low of $7.50 and a one year high of $41.65.
Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.90) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.89) by ($0.01). The firm had revenue of $7.10 million during the quarter, compared to the consensus estimate of $3.48 million. Zogenix had a negative return on equity of 70.75% and a negative net margin of 309.76%. Zogenix’s revenue was up 238.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.76) EPS. On average, equities analysts predict that Zogenix, Inc. will post ($3.62) EPS for the current year.
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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