Flex Pharma Inc (NASDAQ:FLKS) major shareholder Christoph H. Westphal sold 3,212,861 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $0.92, for a total value of $2,955,832.12. Following the transaction, the insider now directly owns 3,941,118 shares in the company, valued at approximately $3,625,828.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
NASDAQ:FLKS traded down $0.01 during mid-day trading on Friday, reaching $0.51. The stock had a trading volume of 1,056,310 shares, compared to its average volume of 4,067,249. The company has a market cap of $10.09 million, a P/E ratio of -0.26 and a beta of 1.85. Flex Pharma Inc has a twelve month low of $0.39 and a twelve month high of $8.98.
Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings data on Monday, November 5th. The biotechnology company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.06. The firm had revenue of $0.25 million during the quarter. Flex Pharma had a negative net margin of 2,919.75% and a negative return on equity of 148.15%. As a group, analysts predict that Flex Pharma Inc will post -1.23 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of FLKS. JPMorgan Chase & Co. lifted its position in shares of Flex Pharma by 10,889.2% during the 1st quarter. JPMorgan Chase & Co. now owns 37,583 shares of the biotechnology company’s stock valued at $188,000 after acquiring an additional 37,241 shares during the period. Millennium Management LLC lifted its position in shares of Flex Pharma by 75.9% during the 1st quarter. Millennium Management LLC now owns 60,126 shares of the biotechnology company’s stock valued at $301,000 after acquiring an additional 25,941 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Flex Pharma by 84.3% during the 2nd quarter. Renaissance Technologies LLC now owns 236,958 shares of the biotechnology company’s stock valued at $223,000 after acquiring an additional 108,358 shares during the period. Institutional investors own 19.65% of the company’s stock.
FLKS has been the topic of a number of research reports. Zacks Investment Research raised Flex Pharma from a “sell” rating to a “hold” rating in a report on Friday, September 21st. ValuEngine raised Flex Pharma from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Flex Pharma currently has an average rating of “Hold” and a consensus price target of $14.30.
Flex Pharma Company Profile
Flex Pharma, Inc, a biotechnology company, develops and commercializes products for the treatment of muscle cramps, spasms, and spasticity associated with neurological conditions and exercise in the United States. It operates in two segments, Consumer Operations and Drug Development. The company's lead drug candidate is FLX-787, a single molecule, chemically synthesized, and dual transient receptor potential V1/A1 ion channel activator, which is in exploratory Phase 2 clinical trial in Australia for the treatment of patients with multiple sclerosis; and two Phase 2 clinical trials in the United States for the treatment of patients with motor neuron disease in amyotrophic lateral sclerosis.
Further Reading: Return on Investment (ROI)
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