Sunday, June 26, 2022

Selling Buzz: Royalty Pharma plc [RPRX] EVP & Chief Scientific Officer Reddoch James F. sells 100,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Royalty Pharma plc shares valued at $4,155,900 were sold by Reddoch James F. on Jun 08. At $41.56 per share, Reddoch James F. sold 100,000 shares. The insider’s holdings dropped to 920,800 shares worth approximately $36.68 million following the completion of this transaction.


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Also, Reddoch James F. sold 75,000 shares, netting a total of over 3,081,008 in proceeds. Following the sale of shares at $41.08 each, the insider now holds 1,020,800 shares.

Before that, Lloyd George W. had sold 13,974 shares from its account. In a trade valued at $569,754, the EVP, Investments & GC traded Royalty Pharma plc shares for $40.77 each. Upon closing the transaction, the insider’s holdings decreased to 13,974 shares, worth approximately $17.13 million.

As published in their initiating research note from BofA Securities on April 21, 2021, Molecular Templates Inc. [MTEM] has been a Buy and the price target has been revised to $12. This represents a 92.67% premium over Wednesday’s closing price. Analysts at UBS started covering the stock with ‘”a Neutral”‘ outlook in a report released in early February. As of September 08, 2020, Jefferies has initiated its “Buy” rating for MTEM. Earlier on March 25, 2020, Stifel initiated its rating. Their recommendation was “a Buy” for MTEM stock. This represents a 15.23% premium over Wednesday’s closing price. Analysts at Scotiabank started covering the stock with ‘”a Sector outperform”‘ outlook in a report released in mid May. As of April 27, 2022, Goldman has initiated its “Buy” rating for RPRX. Earlier on April 14, 2022, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for RPRX stock which previously was a “a Neutral”.

Analyzing RPRX’s Price Performance

On Wednesday, Royalty Pharma plc [NASDAQ: RPRX] plunged -0.67% to $39.84. The stock’s lowest price that day was $39.73, but it reached a high of $40.47 in the same session. During the last five days, there has been a surge of approximately 4.29%. Over the course of the year, Royalty Pharma plc shares have dropped approximately -0.03%. Shares of the company reached a 52-week high of $44.75 on 04/14/22 and a 52-week low of $36.15 on 02/24/22. A 50-day SMA is recorded $40.93, while a 200-day SMA reached $39.43. Nevertheless, trading volume fell to 1.78 million shares from 3.42 million shares the previous day.

Support And Resistance Levels for Royalty Pharma plc (RPRX)

According to the 24-hour chart, there is a support level at 39.56, which, if violated, would cause prices to drop to 39.27. In the upper region, resistance lies at 40.30. The next price resistance is at 40.75. RSI (Relative Strength Index) is 48.78 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.14, which suggests the price will decrease in the coming days. Percent R is at 47.02%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Royalty Pharma plc subject to short interest?

Stocks of Royalty Pharma plc saw a sharp rise in short interest on Apr 28, 2022 jumping by 0.39 million shares to 7.36 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 6.97 million shares. A jump of 5.3% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.62 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.62.

Which companies own the most shares of Royalty Pharma plc (RPRX)?

According to Morgan Stanley Investment Managem filings, the company currently owns 51,400,800 shares, which is about 11.81% of the total RPRX shares outstanding. The investor’s shares have plunged by -3,048,525 from its previous 13-F filing of 54449325.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $1,282,107,653. Fidelity Management & Research Co acquire a 26.61% interest valued at $1.09 billion while Adage Capital Management LP sold a 0 stake. A total of 210,168 shares of Royalty Pharma plc were sold by BlackRock Fund Advisors during the quarter, and 449,094 were bought by Viking Global Investors LP. In its current portfolio, SSgA Funds Management, Inc. holds 7,762,572 shares valued at $319.35 million.

In terms of Royalty Pharma plc share price expectations, FactSet research, analysts set an average price target of $52.44 in the next 12 months, up nearly 27.15% from the previous closing price of $40.11. Analysts anticipate Royalty Pharma plc stock to reach $58.00 by 2022, with the lowest price target being $47.00. In spite of this, 10 analysts ranked Royalty Pharma plc stock as a Buy at the end of 2022. On April 06, 2022, Morgan Stanley assigned a price target of “an Overweight” to the stock and resumed coverage with a $48.

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