It is currently trading at $9.80 which is impressively higher than $8.51, the 50 day moving average and which is significantly above the 200 day moving average of $8.45. The 50 day moving average was up $1.29 and the 200 day average was up $1.35. Trading was light with 233K shares changing hands on Tuesday. Volume was down 50.34% under the stocks average daily volume.
Investors are more bearish on shares of Zynerba Pharmaceuticals, Inc. if you put credence in the increase in short interest. The stock had a rise in short interest of 27.35% as of October 13, 2017 from the last reporting period. Short interest grew 609,213 over that timeframe. Days to cover increased from 1.0 to 4.0 and the short interest percentage is 0.22% as of October 13.
These funds have shifted positions in (ZYNE). Cutler Group LP downsized its ownership by shedding 1,538 shares a decrease of 25.9%. Cutler Group LP claims 4,400 shares with a value of $36,000. The total value of its holdings decreased 64.0%. As of quarter end Pennsylvania Trust Co had acquired 42,650 shares growing its position 30.6%. The value of the investment in ZYNE decreased from $2,366,000 to $1,522,000 decreasing 35.7% quarter to quarter.
As of the end of the quarter Bank Of Montreal /can/ had bought a total of 42,316 shares growing its stake by 22,997.8%. The value of the investment in (ZYNE) went from $3,000 to $355,000 a change of $352,000 for the reporting period. Simplex Trading, LLC trimmed its investment by selling 8,167 shares a decrease of 72.9% as of 09/30/2017. Simplex Trading, LLC currently owns 3,029 shares valued at $25,000. The value of the position overall is down by 86.8%.
On August 8 the stock rating was downgraded to “Neutral” from “Buy” with a current price target of $7.00 in a report issued by H.C. Wainwright. Equity analyst H.C. Wainwright downgraded the stock and lowered the price target on August 8 changing the price objective from $22.00 to $7.00 and cutting the rating from “Buy” to “Neutral”.
On August 15, 2017 the stock rating was changed to “Market Perform” by Oppenheimer which is down from the previous “Outperform” rating. On August 15 the company was downgraded from “Buy” to “Market Perform” in a report from Jefferies.
On August 21 Canaccord Genuity held the company rating at “Buy” but lowered the price expectation from $35.00 to $9.00.
As of the last earnings report the EPS was $-2.60 and is estimated to be $-2.42 for the current year with 13,257,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $-0.58 and the next full year EPS is anticipated to be $-2.39.
Zynerba Pharmaceuticals, Inc., launched on January 31, 2007, is a specialty pharmaceutical company. The Company is involved in developing and commercializing transdermal synthetic cannabinoid treatments for patients with high unmet needs. Its development pipeline includes two product candidates: ZYN002 and ZYN001..