Aurinia Pharmaceuticals (NASDAQ:AUPH) Stock Passes Below 50 Day Moving Average – Here’s Why

Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) (TSE:AUP) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $8.60 and traded as low as $7.85. Aurinia Pharmaceuticals shares last traded at $7.97, with a volume of 984,232 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Aurinia Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Aurinia Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Aurinia Pharmaceuticals Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.11 and a current ratio of 5.60. The company has a market capitalization of $1.14 billion, a PE ratio of -53.13 and a beta of 1.22. The stock has a fifty day moving average of $8.60 and a 200 day moving average of $7.57.

Hedge Funds Weigh In On Aurinia Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in Aurinia Pharmaceuticals in the 4th quarter valued at $25,000. Blue Trust Inc. increased its holdings in shares of Aurinia Pharmaceuticals by 3,041.4% in the fourth quarter. Blue Trust Inc. now owns 6,377 shares of the biotechnology company’s stock worth $57,000 after purchasing an additional 6,174 shares during the last quarter. CWM LLC lifted its position in shares of Aurinia Pharmaceuticals by 247.7% in the third quarter. CWM LLC now owns 11,483 shares of the biotechnology company’s stock worth $84,000 after buying an additional 8,180 shares in the last quarter. FMR LLC boosted its stake in Aurinia Pharmaceuticals by 44.8% during the third quarter. FMR LLC now owns 12,673 shares of the biotechnology company’s stock valued at $93,000 after buying an additional 3,919 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Aurinia Pharmaceuticals during the 4th quarter valued at approximately $108,000. Institutional investors own 36.83% of the company’s stock.

Aurinia Pharmaceuticals Company Profile

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.