Insider Buying: Aurinia Pharmaceuticals (NASDAQ:AUPH) CEO Purchases $4,056,859.11 in Stock

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) (TSE:AUP) CEO Kevin Tang purchased 264,981 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $15.31 per share, for a total transaction of $4,056,859.11. Following the purchase, the chief executive officer owned 12,494,481 shares in the company, valued at $191,290,504.11. The trade was a 2.17% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Kevin Tang also recently made the following trade(s):

• On Tuesday, June 2nd, Kevin Tang purchased 206,005 shares of Aurinia Pharmaceuticals stock. The stock was bought at an average price of $15.28 per share, for a total transaction of $3,147,756.40.
• On Monday, June 1st, Kevin Tang purchased 343,620 shares of Aurinia Pharmaceuticals stock. The stock was bought at an average price of $15.28 per share, for a total transaction of $5,250,513.60.

Aurinia Pharmaceuticals Stock Up 4.5%

Shares of AUPH opened at $16.37 on Friday. Aurinia Pharmaceuticals Inc has a 52 week low of $7.28 and a 52 week high of $16.88. The firm has a market cap of $2.11 billion, a P/E ratio of 7.54 and a beta of 1.41. The firm’s 50-day simple moving average is $15.60 and its 200 day simple moving average is $15.26. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.01 and a current ratio of 5.55.

Aurinia Pharmaceuticals (NASDAQ:AUPH) (TSE:AUP) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. Aurinia Pharmaceuticals had a net margin of 99.97% and a return on equity of 26.62%. The business had revenue of $77.71 million for the quarter, compared to analyst estimates of $76.98 million. On average, analysts forecast that Aurinia Pharmaceuticals Inc will post 0.82 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Aurinia Pharmaceuticals by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,407 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 1,318 shares in the last quarter. MML Investors Services LLC grew its position in shares of Aurinia Pharmaceuticals by 12.7% during the 4th quarter. MML Investors Services LLC now owns 15,643 shares of the biotechnology company’s stock worth $250,000 after purchasing an additional 1,765 shares in the last quarter. First Trust Advisors LP grew its position in shares of Aurinia Pharmaceuticals by 15.5% during the 1st quarter. First Trust Advisors LP now owns 14,065 shares of the biotechnology company’s stock worth $208,000 after purchasing an additional 1,883 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Aurinia Pharmaceuticals during the 4th quarter worth approximately $32,000. Finally, Concurrent Investment Advisors LLC grew its position in shares of Aurinia Pharmaceuticals by 7.8% during the 4th quarter. Concurrent Investment Advisors LLC now owns 30,270 shares of the biotechnology company’s stock worth $483,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Aurinia Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.25.

About Aurinia Pharmaceuticals

Aurinia Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company focused on developing and commercializing therapies for autoimmune diseases. The company’s proprietary molecule, voclosporin, is designed to selectively inhibit calcineurin and reduce inflammation associated with autoimmune responses. Aurinia operates research and development facilities in Canada and the United States, leveraging collaborations with academic institutions and contract research organizations to advance its clinical pipeline.

The company’s lead product, voclosporin (marketed as LUPKYNIS), received approval from the U.S.