Renaissance Technologies LLC Acquires New Holdings in Theravance Biopharma, Inc. $TBPH

Key Points

• Renaissance Technologies initiated a Theravance Biopharma position of 127,916 shares worth approximately $2.1 million, while institutional investors collectively own 99.1% of the company.
• Company insiders sold 350,011 shares valued at roughly $6.0 million over the past quarter, including sales by SVP Rhonda Farnum and major shareholder Eli Samaha.
• TBPH shares opened at $16.91, compared with a consensus analyst price target of $19.40. Recent brokerages generally moved to neutral or hold ratings, and the overall consensus remains “Hold.”

Renaissance Technologies LLC bought a new stake in Theravance Biopharma, Inc. (NASDAQ:TBPH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 127,916 shares of the biopharmaceutical company's stock, valued at approximately $2,076,000. Renaissance Technologies LLC owned approximately 0.25% of Theravance Biopharma at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Theravance Biopharma by 26.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,462 shares of the biopharmaceutical company's stock valued at $46,000 after acquiring an additional 515 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Theravance Biopharma by 18.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,013 shares of the biopharmaceutical company's stock worth $55,000 after acquiring an additional 781 shares during the last quarter. Creative Planning increased its holdings in Theravance Biopharma by 6.7% in the 3rd quarter. Creative Planning now owns 13,450 shares of the biopharmaceutical company's stock worth $196,000 after purchasing an additional 842 shares in the last quarter. State of Wyoming increased its holdings in Theravance Biopharma by 5.7% in the 2nd quarter. State of Wyoming now owns 18,928 shares of the biopharmaceutical company's stock worth $209,000 after purchasing an additional 1,019 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Theravance Biopharma by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,747 shares of the biopharmaceutical company's stock worth $174,000 after purchasing an additional 1,020 shares in the last quarter. Institutional investors own 99.10% of the company's stock.

Insider Transactions at Theravance Biopharma

In other news, SVP Rhonda Farnum sold 13,314 shares of Theravance Biopharma stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $16.39, for a total value of $218,216.46. Following the completion of the transaction, the senior vice president directly owned 232,457 shares of the company's stock, valued at approximately $3,809,970.23. This trade represents a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Eli Samaha sold 37,799 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $17.00, for a total value of $642,583.00. Following the completion of the transaction, the insider directly owned 9,174,453 shares in the company, valued at $155,965,701. This represents a 0.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 350,011 shares of company stock valued at $6,008,309. Company insiders own 7.65% of the company's stock.

Theravance Biopharma Stock Performance

Shares of NASDAQ TBPH opened at $16.91 on Tuesday. The company has a market capitalization of $871.71 million, a P/E ratio of 7.69 and a beta of 0.19. Theravance Biopharma, Inc. has a 52-week low of $11.30 and a 52-week high of $21.03. The company's 50 day moving average price is $16.79 and its 200-day moving average price is $16.89.

Theravance Biopharma (NASDAQ:TBPH - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The biopharmaceutical company reported ($0.10) earnings per share for the quarter. Theravance Biopharma had a return on equity of 18.84% and a net margin of 104.34%.The firm had revenue of $17.70 million for the quarter. Analysts forecast that Theravance Biopharma, Inc. will post 1.56 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on TBPH. JonesTrading lowered Theravance Biopharma from a "buy" rating to a "hold" rating in a research note on Monday, June 29th. Weiss Ratings raised Theravance Biopharma from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 3rd. Wall Street Zen lowered shares of Theravance Biopharma from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. BTIG Research downgraded shares of Theravance Biopharma from a "buy" rating to a "neutral" rating in a research report on Monday, June 29th. Finally, HC Wainwright lowered shares of Theravance Biopharma from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $15.00 to $17.00 in a report on Tuesday, July 7th. Eight research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $19.40.

Theravance Biopharma Profile

Theravance Biopharma is a biopharmaceutical company focused on the discovery, development and commercialization of innovative medicines, primarily in the areas of respiratory disease, inflammatory and immunology, and rare disorders. The company develops small-molecule therapies designed to address unmet medical needs by targeting specific molecular pathways. Its lead marketed product, YUPELRI® (revefenacin) inhalation solution, is the first and only once-daily, long-acting muscarinic antagonist (LAMA) approved by the U.S.

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