Norris Financial Group LLC Takes $5.08 Million Position in Aurinia Pharmaceuticals Inc $AUPH

Key Points

• Norris Financial Group acquired 342,477 shares of Aurinia Pharmaceuticals, worth approximately $5.08 million, making up 1.7% of its portfolio and about 0.27% of Aurinia’s outstanding stock.
• Institutional investors and hedge funds own 36.83% of Aurinia, while company insiders own 10.40%; CEO Kevin Tang recently purchased more than 206,000 shares for approximately $3.15 million.
• Analysts maintain a consensus “Hold” rating with a $17.33 target price. Aurinia recently reported quarterly EPS of $0.25, exceeding estimates of $0.18, and revenue of $77.71 million.

Norris Financial Group LLC acquired a new position in Aurinia Pharmaceuticals Inc (NASDAQ:AUPH - Free Report) TSE: AUP during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 342,477 shares of the biotechnology company's stock, valued at approximately $5,076,000. Aurinia Pharmaceuticals makes up 1.7% of Norris Financial Group LLC's holdings, making the stock its 18th largest holding. Norris Financial Group LLC owned approximately 0.27% of Aurinia Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new stake in Aurinia Pharmaceuticals in the fourth quarter worth about $32,000. Frazier Financial Advisors LLC boosted its position in shares of Aurinia Pharmaceuticals by 411.9% during the 1st quarter. Frazier Financial Advisors LLC now owns 3,471 shares of the biotechnology company's stock valued at $51,000 after purchasing an additional 2,793 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Aurinia Pharmaceuticals in the 3rd quarter worth approximately $48,000. Kemnay Advisory Services Inc. bought a new stake in shares of Aurinia Pharmaceuticals in the 4th quarter worth approximately $82,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Aurinia Pharmaceuticals by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,407 shares of the biotechnology company's stock valued at $102,000 after purchasing an additional 1,318 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Weiss Ratings lowered shares of Aurinia Pharmaceuticals from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 15th. Zacks Research lowered Aurinia Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $17.33.

Aurinia Pharmaceuticals Stock Performance

Aurinia Pharmaceuticals stock opened at $15.00 on Friday. Aurinia Pharmaceuticals Inc has a fifty-two week low of $8.85 and a fifty-two week high of $19.25. The firm's 50 day simple moving average is $15.95 and its 200-day simple moving average is $15.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.55 and a quick ratio of 5.01. The company has a market cap of $1.93 billion, a P/E ratio of 6.91 and a beta of 1.41.

Aurinia Pharmaceuticals (NASDAQ:AUPH - Get Free Report) TSE: AUP last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.07. The firm had revenue of $77.71 million during the quarter, compared to analyst estimates of $76.98 million. Aurinia Pharmaceuticals had a net margin of 99.97% and a return on equity of 26.62%. As a group, equities research analysts predict that Aurinia Pharmaceuticals Inc will post 0.81 EPS for the current year.

Insider Transactions at Aurinia Pharmaceuticals

In other Aurinia Pharmaceuticals news, CEO Kevin Tang acquired 206,005 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was purchased at an average cost of $15.28 per share, for a total transaction of $3,147,756.40. Following the transaction, the chief executive officer owned 13,044,106 shares of the company's stock, valued at $199,313,939.68. The trade was a 1.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders bought 814,606 shares of company stock valued at $12,455,129. 10.40% of the stock is currently owned by corporate insiders.

Aurinia Pharmaceuticals Profile

Aurinia Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company focused on developing and commercializing therapies for autoimmune diseases. The company's proprietary molecule, voclosporin, is designed to selectively inhibit calcineurin and reduce inflammation associated with autoimmune responses. Aurinia operates research and development facilities in Canada and the United States, leveraging collaborations with academic institutions and contract research organizations to advance its clinical pipeline.

The company's lead product, voclosporin (marketed as LUPKYNIS), received approval from the U.S.

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