13.1% Stake of Recro Pharma Inc (REPH) Owned by Broadfin Capital, LLC
Broadfin Capital, LLC
recently stated that they own a 13.1% stake in Recro Pharma Inc (NASDAQ:REPH) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission on Thursday, December 14th. The investor owns 2,512,025 shares of the stock worth approximately $24,040,079. The reporting parties listed on the disclosure included Broadfin Capital, LLC, Broadfin Healthcare Master Fund, Ltd and Kevin Kotler. The filing is available through the SEC website at this link.
Several other hedge funds have also added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in Recro Pharma by 245.1% in the 1st quarter. Renaissance Technologies LLC now owns 63,500 shares of the specialty pharmaceutical company’s stock worth $555,000 after acquiring an additional 45,100 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Recro Pharma by 76.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 22,085 shares of the specialty pharmaceutical company’s stock worth $155,000 after acquiring an additional 9,600 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new stake in Recro Pharma in the 2nd quarter worth $215,000. Bank of New York Mellon Corp grew its holdings in Recro Pharma by 182.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 50,532 shares of the specialty pharmaceutical company’s stock worth $355,000 after acquiring an additional 32,655 shares during the last quarter. Finally, Cadence Capital Management LLC grew its holdings in Recro Pharma by 32.4% in the 2nd quarter. Cadence Capital Management LLC now owns 124,491 shares of the specialty pharmaceutical company’s stock worth $875,000 after acquiring an additional 30,455 shares during the last quarter. 61.55% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Recro Pharma from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Piper Jaffray Companies reissued a “buy” rating and issued a $11.00 price target on shares of Recro Pharma in a report on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Recro Pharma currently has an average rating of “Buy” and an average target price of $11.65.
Shares of Recro Pharma Inc (NASDAQ REPH) traded down $0.21 on Thursday, hitting $9.57. 106,722 shares of the stock were exchanged, compared to its average volume of 120,685. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.35 and a current ratio of 1.59. Recro Pharma Inc has a 52-week low of $5.81 and a 52-week high of $10.59.
In other news, major shareholder Healthcare Master Fun Broadfin sold 172,208 shares of Recro Pharma stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $9.45, for a total transaction of $1,627,365.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 738,050 shares of company stock worth $7,110,896 in the last ninety days. Insiders own 21.60% of the company’s stock.
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Recro Pharma Company Profile
Recro Pharma, Inc is a clinical-stage specialty pharmaceutical company. The Company is engaged in developing products for hospitals and ambulatory care settings that is developing non-opioid products for treatment of serious acute pain. The Company’s lead product candidate is an injectable form of meloxicam.
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