Renaissance Technologies LLC lifted its position in Ra Pharmaceuticals Inc (NASDAQ:RARX) by 116.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 145,800 shares of the company’s stock after buying an additional 78,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Ra Pharmaceuticals were worth $2,638,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in Ra Pharmaceuticals by 12.1% during the third quarter. Bank of New York Mellon Corp now owns 53,759 shares of the company’s stock worth $973,000 after purchasing an additional 5,797 shares during the period. Alps Advisors Inc. boosted its position in Ra Pharmaceuticals by 22.1% during the third quarter. Alps Advisors Inc. now owns 57,230 shares of the company’s stock worth $1,035,000 after purchasing an additional 10,377 shares during the period. Essex Investment Management Co. LLC bought a new stake in Ra Pharmaceuticals during the third quarter worth approximately $623,000. Bank of America Corp DE boosted its position in Ra Pharmaceuticals by 513.2% during the second quarter. Bank of America Corp DE now owns 43,436 shares of the company’s stock worth $432,000 after purchasing an additional 36,352 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Ra Pharmaceuticals by 27.4% during the second quarter. Dimensional Fund Advisors LP now owns 214,579 shares of the company’s stock worth $2,135,000 after purchasing an additional 46,126 shares during the period. 74.75% of the stock is owned by institutional investors and hedge funds.
In other Ra Pharmaceuticals news, Director Ra Capital Healthcare Fund Lp acquired 1,006,452 shares of Ra Pharmaceuticals stock in a transaction dated Wednesday, December 12th. The stock was bought at an average cost of $15.50 per share, with a total value of $15,600,006.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Enterprise Associates 13 L. New acquired 645,161 shares of Ra Pharmaceuticals stock in a transaction dated Friday, December 14th. The stock was acquired at an average cost of $15.50 per share, with a total value of $9,999,995.50. The disclosure for this purchase can be found here. Insiders bought 2,658,065 shares of company stock valued at $41,200,008 over the last three months. 11.40% of the stock is owned by company insiders.
RARX opened at $19.99 on Thursday. Ra Pharmaceuticals Inc has a 1-year low of $4.78 and a 1-year high of $23.90. The company has a market capitalization of $626.58 million, a PE ratio of -8.29 and a beta of 0.82.
Ra Pharmaceuticals (NASDAQ:RARX) last posted its quarterly earnings data on Wednesday, November 7th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.02). On average, sell-side analysts anticipate that Ra Pharmaceuticals Inc will post -2.11 EPS for the current fiscal year.
A number of equities research analysts have issued reports on the company. Zacks Investment Research cut Ra Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. BidaskClub cut Ra Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th. ValuEngine raised Ra Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, October 22nd. BMO Capital Markets set a $21.00 target price on Ra Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, November 8th. Finally, Credit Suisse Group set a $25.00 target price on Ra Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, October 19th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $29.00.
Ra Pharmaceuticals Company Profile
Ra Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapeutics for the treatment of diseases caused by excessive or uncontrolled activation of the complement system in the United States. The company's peptide chemistry platform enables the production of synthetic macrocyclic peptides that combine the diversity and specificity of antibodies with the pharmacological properties of small molecules.
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