Cibc World Market Inc. bought a new position in shares of United Therapeutics Corporation (NASDAQ:UTHR – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,419 shares of the biotechnology company’s stock, valued at approximately $769,000.
Other large investors also recently modified their holdings of the company. Torren Management LLC bought a new position in United Therapeutics during the 4th quarter valued at approximately $26,000. Activest Wealth Management grew its position in shares of United Therapeutics by 1,400.0% in the 4th quarter. Activest Wealth Management now owns 60 shares of the biotechnology company’s stock worth $29,000 after buying an additional 56 shares during the last quarter. WealthCollab LLC grew its position in shares of United Therapeutics by 55.9% in the 2nd quarter. WealthCollab LLC now owns 106 shares of the biotechnology company’s stock worth $30,000 after buying an additional 38 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of United Therapeutics by 76.7% during the second quarter. Rakuten Securities Inc. now owns 106 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 46 shares during the period. Finally, Entrust Financial LLC purchased a new position in shares of United Therapeutics during the fourth quarter valued at approximately $31,000. 94.08% of the stock is owned by institutional investors.
United Therapeutics Stock Performance
Shares of United Therapeutics stock opened at $527.91 on Friday. The stock has a market capitalization of $22.64 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.75 and a beta of 0.59. United Therapeutics Corporation has a 52-week low of $302.19 and a 52-week high of $609.35. The company has a 50-day simple moving average of $530.89 and a two-hundred day simple moving average of $538.86.
Insider Buying and Selling
In related news, CFO James Edgemond sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $546.28, for a total value of $5,462,800.00. Following the transaction, the chief financial officer directly owned 18,876 shares of the company’s stock, valued at approximately $10,311,581.28. This represents a 34.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Martine A. Rothblatt sold 9,500 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $541.39, for a total value of $5,143,205.00. Following the sale, the chief executive officer owned 40,513 shares in the company, valued at approximately $21,933,333.07. This represents a 19.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 424,075 shares of company stock valued at $227,336,485. 8.60% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of analysts recently commented on UTHR shares. Morgan Stanley set a $515.00 price target on United Therapeutics in a research note on Thursday, August 6th. TD Cowen restated a “buy” rating on shares of United Therapeutics in a report on Thursday, May 21st. Royal Bank Of Canada decreased their price target on shares of United Therapeutics from $704.00 to $677.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on United Therapeutics from $685.00 to $687.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Bank of America reduced their target price on shares of United Therapeutics from $620.00 to $613.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $646.00.
Get Our Latest Analysis on United Therapeutics
About United Therapeutics
United Therapeutics Corporation (NASDAQ: UTHR) is a biotechnology company dedicated to the development and commercialization of unique products to address life-threatening illnesses. The company’s primary focus has been on pulmonary arterial hypertension (PAH), where it has launched several therapies designed to improve functional capacity and quality of life for patients. Its marketed products include continuous infusion treprostinil (Remodulin), inhaled treprostinil (Tyvaso), oral treprostinil (Orenitram) and tadalafil (Adcirca), each tailored to different modes of administration and patient needs.
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