Perceptive Advisors is Buying Zogenix Inc. (NASDAQ:ZGNX) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Zogenix Inc. (NASDAQ:ZGNX) reported that Perceptive Advisors has picked up 1,355,302 of common stock as of 2017-02-22.

The acquisition brings the aggregate amount owned by Perceptive Advisors to a total of 1,355,302 representing a 5.46% stake in the company.

For those not familiar with the company, 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 in requirement of treatment alternatives. The Company’s areas of focus are epilepsy and schizophrenia. Its lead product candidate, ZX008, is a low-dose fenfluramine. The Company is also engaged in the development of Relday, which is a long-acting injectable formulation of risperidone indicated for the treatment of symptoms of schizophrenia and bipolar disorder in adults and teenagers 13 years of age and older. The Company is also engaged in manufacturing Sumavel DosePro (sumatriptan injection), a needle-free delivery system, which it sells to Endo Ventures Bermuda Limited and Endo Ventures Limited. Its DosePro technology is a drug delivery system designed for self-administration of a pre-filled, single dose of liquid drug, subcutaneously, without a needle.

A glance at Zogenix Inc. (NASDAQ:ZGNX)’s key stats reveals a current market capitalization of 272.43 million based on 24.79 million shares outstanding and a price at last close of $10.66 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2015-12-15, Hawley picked up 10,000 at a purchase price of $13.74. This brings their total holding to 90,575 as of the date of the filing.

On the sell side, the most recent transaction saw Shively unload 19 shares at a sale price of $2.00. This brings their total holding to 358,771.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Zogenix Inc. (NASDAQ:ZGNX) as things move forward to see if its progress aligns with these transactions.

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