Municipal Employees Retirement System of Michigan raised its stake in SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN) by 673.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 90,180 shares of the specialty pharmaceutical company’s stock after buying an additional 78,520 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in SciClone Pharmaceuticals were worth $992,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. LS Investment Advisors LLC boosted its stake in shares of SciClone Pharmaceuticals by 425.2% in the first quarter. LS Investment Advisors LLC now owns 10,320 shares of the specialty pharmaceutical company’s stock valued at $101,000 after buying an additional 8,355 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of SciClone Pharmaceuticals by 14.4% in the first quarter. BNP Paribas Arbitrage SA now owns 10,482 shares of the specialty pharmaceutical company’s stock valued at $103,000 after buying an additional 1,320 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of SciClone Pharmaceuticals by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 10,213 shares of the specialty pharmaceutical company’s stock valued at $112,000 after buying an additional 4,503 shares in the last quarter. Mason Street Advisors LLC boosted its stake in shares of SciClone Pharmaceuticals by 7.9% in the first quarter. Mason Street Advisors LLC now owns 12,037 shares of the specialty pharmaceutical company’s stock valued at $118,000 after buying an additional 881 shares in the last quarter. Finally, Airain ltd acquired a new stake in shares of SciClone Pharmaceuticals during the first quarter valued at about $131,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of SciClone Pharmaceuticals, Inc. (NASDAQ SCLN) opened at 11.05 on Friday. The stock’s 50 day moving average is $10.97 and its 200 day moving average is $10.15. SciClone Pharmaceuticals, Inc. has a 12 month low of $8.55 and a 12 month high of $11.43. The firm has a market cap of $576.71 million, a PE ratio of 13.63 and a beta of 1.71.

SciClone Pharmaceuticals (NASDAQ:SCLN) last issued its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. SciClone Pharmaceuticals had a return on equity of 21.84% and a net margin of 25.18%. The business had revenue of $44.52 million during the quarter. On average, analysts anticipate that SciClone Pharmaceuticals, Inc. will post $0.94 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Municipal Employees Retirement System of Michigan Boosts Stake in SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN)” was first published by Watch List News and is the property of of Watch List News. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The correct version of this article can be read at https://www.watchlistnews.com/municipal-employees-retirement-system-of-michigan-boosts-stake-in-sciclone-pharmaceuticals-inc-nasdaqscln/1476626.html.

Separately, Maxim Group set a $14.00 price target on shares of SciClone Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, May 11th.

In other news, CEO Friedhelm Blobel sold 18,536 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $9.44, for a total transaction of $174,979.84. Following the completion of the sale, the chief executive officer now owns 111,062 shares in the company, valued at approximately $1,048,425.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Wilson Wai-Shun Cheung sold 40,500 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $10.75, for a total value of $435,375.00. Following the sale, the chief financial officer now owns 14,372 shares of the company’s stock, valued at approximately $154,499. The disclosure for this sale can be found here. Insiders have sold a total of 235,500 shares of company stock valued at $2,479,764 in the last quarter. Company insiders own 5.16% of the company’s stock.

SciClone Pharmaceuticals Company Profile

SciClone Pharmaceuticals, Inc is a pharmaceutical company. The Company’s product portfolio of therapies includes oncology, infectious diseases and cardiovascular disorders. The Company’s business is focused primarily in the People’s Republic of China. The Company operates in two segments: China and the Rest of the World, including its operations in the United States and Hong Kong.

Want to see what other hedge funds are holding SCLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN).

Institutional Ownership by Quarter for SciClone Pharmaceuticals (NASDAQ:SCLN)

Receive News & Ratings for SciClone Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SciClone Pharmaceuticals Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.