C WorldWide Group Holding A S trimmed its holdings in Flex Pharma, Inc. (NASDAQ:FLKS) by 6.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 260,584 shares of the biotechnology company’s stock after selling 17,476 shares during the quarter. C WorldWide Group Holding A S owned about 1.45% of Flex Pharma worth $889,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised 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 last quarter. Royce & Associates LP raised its holdings in shares of Flex Pharma by 29.0% in the second quarter. Royce & Associates LP now owns 312,410 shares of the biotechnology company’s stock valued at $1,203,000 after buying an additional 70,210 shares during the last quarter. Bank of New York Mellon Corp raised 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 last quarter. Finally, LMR Partners LLP bought a new position in shares of Flex Pharma in the second quarter valued at about $104,000. 28.07% of the stock is owned by institutional investors and hedge funds.

Shares of Flex Pharma, Inc. (NASDAQ FLKS) traded up $0.16 on Monday, hitting $3.79. The company had a trading volume of 57,200 shares, compared to its average volume of 78,221. Flex Pharma, Inc. has a 1-year low of $2.68 and a 1-year high of $7.18.

Flex Pharma (NASDAQ:FLKS) last issued its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.54) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.60) by $0.06. Flex Pharma had a negative return on equity of 71.39% and a negative net margin of 2,655.19%. The business had revenue of $0.41 million during the quarter, compared to analyst estimates of $0.47 million. research analysts anticipate that Flex Pharma, Inc. will post -2.38 earnings per share for the current fiscal year.

Several analysts have weighed in on the company. Zacks Investment Research cut Flex Pharma from a “hold” rating to a “sell” rating in a report on Thursday. Cantor Fitzgerald reissued a “hold” rating and set a $10.00 price objective on shares of Flex Pharma in a report on Monday, September 25th. Finally, Roth Capital initiated coverage on Flex Pharma in a research report on Thursday, September 7th. They set a “buy” rating and a $14.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $9.55.

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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.

Institutional Ownership by Quarter for Flex Pharma (NASDAQ:FLKS)

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