Ra Pharmaceuticals Inc (RARX) Major Shareholder Purchases $12,000,000.00 in Stock

Ra Pharmaceuticals Inc (NASDAQ:RARX) major shareholder Enterprise Associates 13 L. New bought 2,000,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were bought at an average price of $6.00 per share, with a total value of $12,000,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Ra Pharmaceuticals Inc (NASDAQ RARX) traded down $0.72 during mid-day trading on Wednesday, hitting $7.02. The stock had a trading volume of 463,459 shares, compared to its average volume of 217,910. Ra Pharmaceuticals Inc has a 52 week low of $5.80 and a 52 week high of $27.84.

Institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. purchased a new position in shares of Ra Pharmaceuticals in the second quarter valued at $195,000. The Manufacturers Life Insurance Company lifted its stake in Ra Pharmaceuticals by 30.6% during the second quarter. The Manufacturers Life Insurance Company now owns 10,860 shares of the company’s stock worth $204,000 after purchasing an additional 2,543 shares during the last quarter. Swiss National Bank bought a new stake in Ra Pharmaceuticals during the second quarter worth about $247,000. New York State Common Retirement Fund lifted its stake in Ra Pharmaceuticals by 87.8% during the second quarter. New York State Common Retirement Fund now owns 13,900 shares of the company’s stock worth $260,000 after purchasing an additional 6,499 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in Ra Pharmaceuticals during the fourth quarter worth about $154,000. Institutional investors and hedge funds own 70.27% of the company’s stock.

A number of research firms have recently weighed in on RARX. BMO Capital Markets reiterated an “outperform” rating and set a $34.00 target price (up from $31.00) on shares of Ra Pharmaceuticals in a research report on Monday, December 4th. Credit Suisse Group upped their price objective on Ra Pharmaceuticals from $19.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Zacks Investment Research downgraded Ra Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Royal Bank of Canada restated a “buy” rating and set a $18.00 price objective on shares of Ra Pharmaceuticals in a research report on Tuesday, December 5th. Finally, ValuEngine downgraded Ra Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Ra Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $20.10.

TRADEMARK VIOLATION NOTICE: “Ra Pharmaceuticals Inc (RARX) Major Shareholder Purchases $12,000,000.00 in Stock” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another site, it was stolen and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.dispatchtribunal.com/2018/02/21/ra-pharmaceuticals-inc-rarx-major-shareholder-purchases-12000000-00-in-stock.html.

About Ra Pharmaceuticals

Ra Pharmaceuticals, Inc is a United States-based clinical-stage biopharmaceutical company. The Company focuses on the development of therapeutics for diseases of complement dysregulation and a range of orphan indications. It utilizes small molecules and peptide approaches to address pathological targets in the complement cascade.

Insider Buying and Selling by Quarter for Ra Pharmaceuticals (NASDAQ:RARX)

Receive News & Ratings for Ra Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ra Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply