Tobira Therapeutics Inc. (TBRA) Sees Unusually-High Trading Volume
Tobira Therapeutics Inc. (NASDAQ:TBRA) saw unusually-strong trading volume on Wednesday . Approximately 1,855,625 shares changed hands during trading, an increase of 110% from the previous session’s volume of 883,673 shares.The stock last traded at $39.10 and had previously closed at $38.91.
A number of equities analysts recently commented on TBRA shares. Cantor Fitzgerald downgraded Tobira Therapeutics to a “buy” rating and set a $19.00 price objective on the stock. in a research report on Monday, July 25th. Zacks Investment Research upgraded Tobira Therapeutics from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Wednesday, July 13th. HC Wainwright reiterated a “buy” rating on shares of Tobira Therapeutics in a research report on Tuesday, June 28th. Finally, Cowen and Company reiterated a “buy” rating and set a $11.00 price objective on shares of Tobira Therapeutics in a research report on Wednesday, August 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Tobira Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $16.75.
The firm’s market cap is $735.52 million. The company’s 50 day moving average price is $6.61 and its 200-day moving average price is $8.48.
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Tobira Therapeutics (NASDAQ:TBRA) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by $0.08. The business earned $1.06 million during the quarter. Analysts expect that Tobira Therapeutics Inc. will post ($2.65) EPS for the current fiscal year.
In other Tobira Therapeutics news, major shareholder A/S Novo sold 66,814 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $13.04, for a total transaction of $871,254.56. Following the transaction, the insider now owns 2,073,022 shares in the company, valued at approximately $27,032,206.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. purchased a new stake in Tobira Therapeutics during the first quarter worth $4,797,000. State Street Corp boosted its stake in Tobira Therapeutics by 184.3% in the first quarter. State Street Corp now owns 42,875 shares of the biopharmaceutical company’s stock worth $351,000 after buying an additional 27,794 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tobira Therapeutics by 2.5% in the first quarter. Geode Capital Management LLC now owns 32,223 shares of the biopharmaceutical company’s stock worth $263,000 after buying an additional 799 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Tobira Therapeutics during the second quarter worth $263,000. Finally, California State Teachers Retirement System boosted its stake in Tobira Therapeutics by 230.2% in the second quarter. California State Teachers Retirement System now owns 18,578 shares of the biopharmaceutical company’s stock worth $233,000 after buying an additional 12,951 shares in the last quarter. Institutional investors and hedge funds own 62.02% of the company’s stock.
About Tobira Therapeutics
Tobira Therapeutics, Inc, formerly Regado Biosciences, Inc, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapies to treat liver disease, inflammation, fibrosis and human immunodeficiency virus (HIV). The Company’s lead product candidate, cenicriviroc (CVC), is an immunomodulator and dual inhibitor of C-C Chemokine Receptor 2 (CCR2) and C-C Chemokine Receptor 5 (CCR5) being evaluated for the treatment of non-alcoholic steatohepatitis (NASH), primary sclerosing cholangitis (PSC), and as an adjunctive therapy to standard of care in HIV.
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