Pennsylvania Trust Co grew its stake in shares of Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) by 17.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,100 shares of the company’s stock after acquiring an additional 30,000 shares during the quarter. Pennsylvania Trust Co owned about 1.15% of Zynerba Pharmaceuticals worth $1,649,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Zynerba Pharmaceuticals by 385.6% during the 1st quarter. JPMorgan Chase & Co. now owns 12,217 shares of the company’s stock worth $106,000 after purchasing an additional 9,701 shares in the last quarter. Raymond James & Associates acquired a new stake in Zynerba Pharmaceuticals during the 2nd quarter worth approximately $164,000. Engineers Gate Manager LP acquired a new stake in Zynerba Pharmaceuticals during the 2nd quarter worth approximately $231,000. Jane Street Group LLC acquired a new stake in Zynerba Pharmaceuticals during the 2nd quarter worth approximately $239,000. Finally, LMR Partners LLP acquired a new stake in Zynerba Pharmaceuticals during the 2nd quarter worth approximately $312,000. 14.22% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:ZYNE opened at $7.00 on Thursday. Zynerba Pharmaceuticals Inc has a 52-week low of $5.59 and a 52-week high of $15.14. The company has a market capitalization of $143.81 million, a price-to-earnings ratio of -2.86 and a beta of 4.52.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings data on Thursday, August 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.77) by ($0.12). Equities research analysts forecast that Zynerba Pharmaceuticals Inc will post -3.1 EPS for the current fiscal year.

In other news, Chairman Armando Anido acquired 15,000 shares of the stock in a transaction on Monday, August 6th. The stock was bought at an average price of $5.96 per share, with a total value of $89,400.00. Following the completion of the transaction, the chairman now directly owns 352,512 shares of the company’s stock, valued at $2,100,971.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Butler acquired 5,000 shares of the stock in a transaction on Wednesday, August 22nd. The stock was purchased at an average cost of $6.43 per share, with a total value of $32,150.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $32,150. The disclosure for this purchase can be found here. Insiders acquired 32,318 shares of company stock valued at $194,404 in the last ninety days. 12.67% of the stock is owned by corporate insiders.

A number of research firms recently issued reports on ZYNE. Cantor Fitzgerald reissued a “buy” rating and set a $21.00 target price on shares of Zynerba Pharmaceuticals in a research report on Tuesday, October 2nd. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, September 22nd. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. HC Wainwright set a $23.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, August 6th. Finally, Canaccord Genuity dropped their target price on shares of Zynerba Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $18.93.

About Zynerba Pharmaceuticals

Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing and commercializing pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric disorders. Its product candidates include ZYN002, which completed Phase II clinical trial for pediatric and adolescent patients with fragile X syndrome, pediatric and adolescent patients with developmental and epileptic encephalopathies, and adult patients with refractory epileptic focal seizures; and ZYN001 that is in Phase I clinical trial to treat Tourette syndrome.

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Institutional Ownership by Quarter for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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