Amalgamated Bank Sells 48,057 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Amalgamated Bank decreased its holdings in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 70.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,469 shares of the biopharmaceutical company's stock after selling 48,057 shares during the quarter. Amalgamated Bank's holdings in Royalty Pharma were worth $579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RPRX. Swedbank AB bought a new position in shares of Royalty Pharma in the first quarter worth about $251,461,000. New South Capital Management Inc. boosted its position in shares of Royalty Pharma by 60.7% in the second quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company's stock worth $61,943,000 after purchasing an additional 887,522 shares during the period. Dark Forest Capital Management LP boosted its position in shares of Royalty Pharma by 2,974.4% in the second quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company's stock worth $8,931,000 after purchasing an additional 327,659 shares during the period. AQR Capital Management LLC increased its stake in shares of Royalty Pharma by 69.0% in the second quarter. AQR Capital Management LLC now owns 785,567 shares of the biopharmaceutical company's stock worth $20,715,000 after purchasing an additional 320,606 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Royalty Pharma by 11,203.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 310,852 shares of the biopharmaceutical company's stock valued at $8,197,000 after purchasing an additional 308,102 shares during the period. Hedge funds and other institutional investors own 54.35% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on RPRX shares. StockNews.com raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Citigroup cut their target price on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, October 25th. Finally, The Goldman Sachs Group boosted their price target on Royalty Pharma from $50.00 to $51.00 and gave the stock a "buy" rating in a report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.67.

Royalty Pharma Price Performance

NASDAQ:RPRX traded up $0.33 during trading hours on Friday, reaching $25.70. The stock had a trading volume of 3,846,463 shares, compared to its average volume of 2,402,307. The stock has a market capitalization of $15.25 billion, a PE ratio of 13.32, a PEG ratio of 3.76 and a beta of 0.47. Royalty Pharma plc has a 52 week low of $25.10 and a 52 week high of $31.66. The company has a 50 day moving average price of $27.47 and a two-hundred day moving average price of $27.46. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma's dividend payout ratio is presently 43.52%.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.