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.
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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.
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