Tekla Capital Management LLC cut its stake in shares of Ra Pharmaceuticals Inc (NASDAQ:RARX) by 10.0% during the 4th quarter, HoldingsChannel reports. The fund owned 356,237 shares of the company’s stock after selling 39,581 shares during the period. Tekla Capital Management LLC’s holdings in Ra Pharmaceuticals were worth $3,028,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Alliancebernstein L.P. acquired a new position in Ra Pharmaceuticals during the second quarter worth $195,000. The Manufacturers Life Insurance Company raised its holdings 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 buying an additional 2,543 shares during the last quarter. New York State Common Retirement Fund raised its holdings 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 buying an additional 6,499 shares during the last quarter. Teachers Advisors LLC raised its holdings in Ra Pharmaceuticals by 132.8% during the second quarter. Teachers Advisors LLC now owns 20,744 shares of the company’s stock worth $389,000 after buying an additional 11,834 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in Ra Pharmaceuticals by 26.1% during the second quarter. California State Teachers Retirement System now owns 20,800 shares of the company’s stock worth $390,000 after buying an additional 4,300 shares during the last quarter. 49.80% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on RARX shares. BMO Capital Markets upped their price objective on shares of Ra Pharmaceuticals in a report on Tuesday, December 5th. Zacks Investment Research upgraded shares of Ra Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Wednesday, January 10th. Royal Bank of Canada restated a “buy” rating and set a $18.00 price objective on shares of Ra Pharmaceuticals in a report on Tuesday, December 5th. Credit Suisse Group restated an “outperform” rating and set a $16.00 price objective on shares of Ra Pharmaceuticals in a report on Thursday, January 18th. Finally, ValuEngine downgraded shares of Ra Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.10.
In other news, major shareholder Ra Capital Healthcare Fund Lp bought 2,500,000 shares of the stock in a transaction dated Wednesday, February 14th. The stock was bought at an average price of $6.00 per share, for a total transaction of $15,000,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Enterprise Associates 13 L. New bought 2,000,000 shares of the stock in a transaction dated Friday, February 16th. The stock was purchased at an average price of $6.00 per share, with a total value of $12,000,000.00. The disclosure for this purchase can be found here. Corporate insiders own 14.50% of the company’s stock.
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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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