Aurinia Pharmaceuticals (NASDAQ:AUPH) Shares Cross Below 50-Day Moving Average – What’s Next?

Shares of Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) (TSE:AUP) crossed below its fifty day moving average during trading on Monday . The stock has a fifty 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.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Aurinia Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Aurinia Pharmaceuticals Price Performance

The firm has a 50-day simple moving average of $8.60 and a 200-day simple moving average of $7.57. The firm has a market capitalization of $1.14 billion, a PE ratio of -53.13 and a beta of 1.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.60 and a quick ratio of 5.11.

Institutional Trading of Aurinia Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Aurinia Pharmaceuticals during the 3rd quarter worth $3,330,000. Barclays PLC grew its holdings in Aurinia Pharmaceuticals by 187.6% during the third quarter. Barclays PLC now owns 219,331 shares of the biotechnology company’s stock valued at $1,607,000 after purchasing an additional 143,072 shares during the period. PDT Partners LLC grew its holdings in Aurinia Pharmaceuticals by 76.0% during the third quarter. PDT Partners LLC now owns 301,553 shares of the biotechnology company’s stock valued at $2,210,000 after purchasing an additional 130,204 shares during the period. Charles Schwab Investment Management Inc. increased its position in Aurinia Pharmaceuticals by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 744,050 shares of the biotechnology company’s stock worth $5,454,000 after buying an additional 89,940 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Aurinia Pharmaceuticals by 2.3% in the third quarter. State Street Corp now owns 2,945,060 shares of the biotechnology company’s stock worth $21,587,000 after buying an additional 64,949 shares during the period. 36.83% of the stock is owned by hedge funds and other institutional investors.

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.