Fred Alger Management Inc. decreased its holdings in Ra Pharmaceuticals Inc (NASDAQ:RARX) by 43.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,000 shares of the company’s stock after selling 13,000 shares during the period. Fred Alger Management Inc. owned about 0.08% of Ra Pharmaceuticals worth $145,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Ra Pharmaceuticals by 47.9% in the fourth quarter. BlackRock Inc. now owns 952,580 shares of the company’s stock valued at $8,097,000 after buying an additional 308,452 shares during the last quarter. Vanguard Group Inc. raised its holdings in Ra Pharmaceuticals by 28.3% during the second quarter. Vanguard Group Inc. now owns 346,602 shares of the company’s stock worth $6,496,000 after purchasing an additional 76,349 shares in the last quarter. Citadel Advisors LLC purchased a new position in Ra Pharmaceuticals during the third quarter worth about $4,664,000. Sectoral Asset Management Inc raised its holdings in Ra Pharmaceuticals by 55.6% during the third quarter. Sectoral Asset Management Inc now owns 278,082 shares of the company’s stock worth $4,060,000 after purchasing an additional 99,332 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Ra Pharmaceuticals by 28.2% during the third quarter. JPMorgan Chase & Co. now owns 256,300 shares of the company’s stock worth $3,742,000 after purchasing an additional 56,400 shares in the last quarter. Hedge funds and other institutional investors own 47.86% of the company’s stock.
Shares of NASDAQ RARX remained flat at $$5.51 during midday trading on Friday. 187,313 shares of the stock traded hands, compared to its average volume of 259,768. The firm has a market cap of $177.90, a price-to-earnings ratio of -2.29 and a beta of 2.31. Ra Pharmaceuticals Inc has a 1-year low of $4.78 and a 1-year high of $27.84.
Ra Pharmaceuticals (NASDAQ:RARX) last issued its quarterly earnings data on Wednesday, March 14th. The company reported ($0.67) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.70) by $0.03. sell-side analysts expect that Ra Pharmaceuticals Inc will post -2.16 earnings per share for the current year.
Several research analysts have weighed in on RARX shares. Credit Suisse Group lowered their price target on shares of Ra Pharmaceuticals from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 13th. SunTrust Banks reaffirmed a “buy” rating on shares of Ra Pharmaceuticals in a research note on Thursday, March 15th. BMO Capital Markets cut their price target on shares of Ra Pharmaceuticals from $34.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, March 15th. ValuEngine downgraded shares of Ra Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research lowered shares of Ra Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $19.50.
In other news, major shareholder Ra Capital Healthcare Fund Lp bought 2,500,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were acquired at an average cost of $6.00 per share, with a total value of $15,000,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Enterprise Associates 13 L. New bought 2,000,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was purchased at an average cost of $6.00 per share, for a total transaction of $12,000,000.00. The disclosure for this purchase can be found here. 14.50% of the stock is currently owned by insiders.
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Ra Pharmaceuticals Company Profile
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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