Panagora Asset Management Inc. Sells 306,402 Shares of BioCryst Pharmaceuticals, Inc. $BCRX

Key Points

• Panagora Asset Management Inc. reduced its stake in BioCryst Pharmaceuticals by 36.7%, holding 529,570 shares valued at approximately $3.97 million after selling over 306,000 shares.
• Recent institutional investor actions include Mariner LLC increasing its stake by 32.1%, and Tower Research Capital LLC increasing its holdings by 84.7% in the fourth quarter of 2023.
• BioCryst Pharmaceuticals' stock recently received an upgrade to "strong-buy" from Wall Street Zen, with multiple analysts setting price targets ranging from $11.00 to $18.00, reflecting a consensus rating of "Moderate Buy."

Panagora Asset Management Inc. decreased its position in BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Free Report) by 36.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 529,570 shares of the biotechnology company's stock after selling 306,402 shares during the quarter. Panagora Asset Management Inc. owned 0.25% of BioCryst Pharmaceuticals worth $3,972,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BCRX. Nuveen LLC acquired a new position in BioCryst Pharmaceuticals in the first quarter valued at about $10,677,000. Jupiter Asset Management Ltd. raised its stake in shares of BioCryst Pharmaceuticals by 82.4% in the first quarter. Jupiter Asset Management Ltd. now owns 2,148,969 shares of the biotechnology company's stock valued at $16,117,000 after acquiring an additional 971,040 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of BioCryst Pharmaceuticals in the 4th quarter worth approximately $3,983,000. Kodai Capital Management LP bought a new stake in BioCryst Pharmaceuticals during the 1st quarter worth approximately $3,516,000. Finally, Woodline Partners LP bought a new stake in BioCryst Pharmaceuticals during the 4th quarter worth approximately $3,385,000. 85.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Bank of America lifted their price objective on BioCryst Pharmaceuticals from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Wall Street Zen raised BioCryst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Royal Bank Of Canada reiterated an "outperform" rating and set a $13.00 price target on shares of BioCryst Pharmaceuticals in a research report on Monday, June 30th. Needham & Company LLC reissued a "buy" rating and set a $17.00 price objective on shares of BioCryst Pharmaceuticals in a report on Monday, August 4th. Finally, Wedbush boosted their target price on shares of BioCryst Pharmaceuticals from $16.00 to $18.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.70.

Insider Buying and Selling at BioCryst Pharmaceuticals

In related news, Director Theresa Heggie sold 70,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $8.51, for a total value of $595,700.00. Following the transaction, the director directly owned 65,352 shares in the company, valued at $556,145.52. This represents a 51.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.10% of the stock is currently owned by company insiders.

BioCryst Pharmaceuticals Price Performance

BioCryst Pharmaceuticals stock remained flat at $8.27 during mid-day trading on Friday. The company had a trading volume of 3,086,063 shares, compared to its average volume of 2,207,472. The firm's 50 day moving average is $8.52 and its 200-day moving average is $8.75. The firm has a market cap of $1.74 billion, a PE ratio of -45.94, a PEG ratio of 1.88 and a beta of 1.13. BioCryst Pharmaceuticals, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $11.31.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The biotechnology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.12. The firm had revenue of $163.35 million for the quarter, compared to the consensus estimate of $149.59 million. The business's revenue for the quarter was up 49.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) earnings per share. Research analysts forecast that BioCryst Pharmaceuticals, Inc. will post -0.36 earnings per share for the current year.

BioCryst Pharmaceuticals Profile

BioCryst Pharmaceuticals, Inc, a biotechnology company, develops oral small-molecule and protein therapeutics to treat rare diseases. The company markets peramivir injection, an intravenous neuraminidase inhibitor for the treatment of acute uncomplicated influenza under the RAPIVAB, RAPIACTA, and PERAMIFLU names; and ORLADEYO, an oral serine protease inhibitor to treat hereditary angioedema.