Armistice Capital LLC Sells 1,124,000 Shares of Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH)

Armistice Capital LLC lowered its position in Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH - Free Report) TSE: AUP by 9.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,136,000 shares of the biotechnology company's stock after selling 1,124,000 shares during the period. Aurinia Pharmaceuticals accounts for about 0.8% of Armistice Capital LLC's holdings, making the stock its 13th biggest position. Armistice Capital LLC owned approximately 7.81% of Aurinia Pharmaceuticals worth $63,587,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AUPH. PFG Investments LLC lifted its holdings in shares of Aurinia Pharmaceuticals by 37.9% in the 2nd quarter. PFG Investments LLC now owns 28,750 shares of the biotechnology company's stock worth $164,000 after purchasing an additional 7,900 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Aurinia Pharmaceuticals by 13.3% in the second quarter. Rhumbline Advisers now owns 208,263 shares of the biotechnology company's stock valued at $1,189,000 after buying an additional 24,371 shares in the last quarter. Banque Cantonale Vaudoise lifted its stake in shares of Aurinia Pharmaceuticals by 126.6% in the second quarter. Banque Cantonale Vaudoise now owns 9,684 shares of the biotechnology company's stock valued at $55,000 after buying an additional 5,410 shares in the last quarter. HighMark Wealth Management LLC grew its holdings in shares of Aurinia Pharmaceuticals by 21.3% during the second quarter. HighMark Wealth Management LLC now owns 91,196 shares of the biotechnology company's stock valued at $521,000 after buying an additional 16,000 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Aurinia Pharmaceuticals by 18.8% during the second quarter. Bank of New York Mellon Corp now owns 488,721 shares of the biotechnology company's stock worth $2,791,000 after acquiring an additional 77,510 shares in the last quarter. Institutional investors and hedge funds own 36.83% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AUPH. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 price target on shares of Aurinia Pharmaceuticals in a research report on Monday, September 16th. HC Wainwright restated a "buy" rating and issued a $13.00 target price on shares of Aurinia Pharmaceuticals in a report on Friday, September 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Aurinia Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $10.00.

Insider Buying and Selling

In other news, insider Scott Michael Habig sold 18,249 shares of the firm's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $5.31, for a total value of $96,902.19. Following the completion of the transaction, the insider now directly owns 456,338 shares of the company's stock, valued at $2,423,154.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.30% of the stock is owned by insiders.

Aurinia Pharmaceuticals Stock Down 0.6 %

Aurinia Pharmaceuticals stock traded down $0.04 during midday trading on Thursday, hitting $7.16. 1,017,593 shares of the stock were exchanged, compared to its average volume of 1,706,617. Aurinia Pharmaceuticals Inc. has a 52-week low of $4.71 and a 52-week high of $10.05. The company has a quick ratio of 4.82, a current ratio of 5.33 and a debt-to-equity ratio of 0.18. The business's 50-day moving average price is $6.29 and its 200-day moving average price is $5.64. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -16.65 and a beta of 1.44.

Aurinia Pharmaceuticals (NASDAQ:AUPH - Get Free Report) TSE: AUP last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates of $0.01. The company had revenue of $57.10 million during the quarter, compared to the consensus estimate of $54.25 million. Aurinia Pharmaceuticals had a negative return on equity of 11.84% and a negative net margin of 24.31%. Aurinia Pharmaceuticals's revenue was up 37.6% on a year-over-year basis. During the same period last year, the business posted ($0.08) earnings per share. On average, research analysts expect that Aurinia Pharmaceuticals Inc. will post 0.13 EPS for the current fiscal year.

About Aurinia Pharmaceuticals

Aurinia Pharmaceuticals Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies to treat various diseases with unmet medical need in the United States. It offers LUPKYNIS for the treatment of adult patients with active lupus nephritis. It has a collaboration and license agreement with Otsuka Pharmaceutical Co, Ltd.