PDT Partners LLC Increases Stake in Theravance Biopharma, Inc. $TBPH

Key Points

• PDT Partners LLC significantly increased its holdings in Theravance Biopharma, Inc. by 135.1%, acquiring an additional 50,901 shares to hold a total of 88,577 shares, valued at approximately $791,000.
• Several institutional investors, including Vanguard Group Inc. and Dimensional Fund Advisors LP, also raised their stakes in Theravance Biopharma, contributing to the overall 99.10% institutional ownership of the company.
• Analysts have upgraded Theravance Biopharma's stock to a strong-buy rating, with an average price target of $21.33, indicating positive sentiment towards the company's future performance.

PDT Partners LLC boosted its position in Theravance Biopharma, Inc. (NASDAQ:TBPH - Free Report) by 135.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 88,577 shares of the biopharmaceutical company's stock after acquiring an additional 50,901 shares during the period. PDT Partners LLC owned 0.18% of Theravance Biopharma worth $791,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new position in shares of Theravance Biopharma in the first quarter worth about $419,000. State of Wyoming increased its stake in shares of Theravance Biopharma by 36.2% in the first quarter. State of Wyoming now owns 17,909 shares of the biopharmaceutical company's stock worth $160,000 after purchasing an additional 4,758 shares in the last quarter. Trexquant Investment LP increased its stake in shares of Theravance Biopharma by 9.5% in the first quarter. Trexquant Investment LP now owns 165,424 shares of the biopharmaceutical company's stock worth $1,477,000 after purchasing an additional 14,341 shares in the last quarter. Martingale Asset Management L P increased its stake in shares of Theravance Biopharma by 4.6% in the first quarter. Martingale Asset Management L P now owns 61,330 shares of the biopharmaceutical company's stock worth $548,000 after purchasing an additional 2,680 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Theravance Biopharma by 10.0% during the first quarter. American Century Companies Inc. now owns 85,707 shares of the biopharmaceutical company's stock valued at $765,000 after acquiring an additional 7,776 shares in the last quarter. 99.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on TBPH. Jones Trading raised Theravance Biopharma to a "strong-buy" rating and set a $24.00 price objective for the company in a research note on Tuesday, June 17th. BTIG Research increased their price target on shares of Theravance Biopharma from $24.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Wall Street Zen raised Theravance Biopharma from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 16th. Finally, Zacks Research raised shares of Theravance Biopharma from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Strong Buy" and an average target price of $21.33.

Theravance Biopharma Trading Down 1.8%

TBPH traded down $0.25 during trading hours on Tuesday, hitting $13.68. The company's stock had a trading volume of 75,684 shares, compared to its average volume of 287,699. Theravance Biopharma, Inc. has a 12 month low of $7.88 and a 12 month high of $14.55. The stock has a market cap of $688.67 million, a price-to-earnings ratio of 56.94 and a beta of 0.04. The business's 50-day moving average price is $12.17 and its 200-day moving average price is $10.48.

Insiders Place Their Bets

In other Theravance Biopharma news, SVP Rhonda Farnum sold 10,000 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $11.39, for a total transaction of $113,900.00. Following the transaction, the senior vice president owned 326,918 shares in the company, valued at $3,723,596.02. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.90% of the stock is owned by company insiders.

About Theravance Biopharma

Theravance Biopharma, Inc is a diversified biopharmaceutical company primarily focused on the discovery, development and commercialization of organ-selective medicines. Its purpose is to pioneer a new generation of small molecule drugs designed to better meet patient needs. Its research is focused in the areas of inflammation and immunology. In pursuit of its purpose, Theravance Biopharma applies insights and innovation at each stage of its business and utilizes its internal capabilities and those of partners around the world.