Representative Lisa C. McClain (R-Michigan) has divested shares in United Therapeutics Corporation (NASDAQ: UTHR), according to a filing made public on November 21, 2023. On October 30, 2023, McClain sold between $1,001 and $15,000 worth of stock in the biotechnology company through her Charles Schwab brokerage account.
This transaction is part of a broader pattern of recent trades by the Representative. On October 31, 2023, she sold shares in several other companies, including Ciena (NYSE: CIEN), Alibaba Group (NYSE: BABA), and Coherent (NYSE: COHR), each valued between $1,001 and $15,000. Other notable trades included shares of Clorox (NYSE: CLX), Honda Motor (NYSE: HMC), and Pure Storage (NYSE: PSTG).
Market Performance of United Therapeutics
As of the latest trading session, shares of United Therapeutics opened at $485.97, reflecting a slight decline of 0.5%. The company boasts a market capitalization of $20.92 billion and a P/E ratio of 18.41. United Therapeutics has seen a 12-month low of $266.98 and a high of $492.62, with a fifty-day moving average price of $447.65 and a 200-day average of $361.75.
Equity analysts have expressed varied opinions on the stock. Bank of America recently raised its price target for United Therapeutics from $314.00 to $463.00, maintaining a “neutral” rating. Conversely, HC Wainwright adjusted its target price upward from $500.00 to $525.00, issuing a “buy” rating. Other firms, including Royal Bank of Canada and Wells Fargo & Company, have also increased their price targets, indicating a positive outlook for the company.
Institutional Investors and Insider Activity
Recent trading activity indicates strong interest from institutional investors. CWM LLC has increased its stake in United Therapeutics by 204.3% in the second quarter, now owning 5,194 shares valued at approximately $1.49 million. AXQ Capital LP has also significantly boosted its holdings by 495.4%, owning 3,888 shares worth about $1.12 million.
In terms of insider trading, Executive Vice President Paul A. Mahon sold 11,000 shares on November 26, 2023, at an average price of $486.06, totaling $5,346,660.00. Following this sale, Mahon retains 36,781 shares valued at approximately $17.88 million. Similarly, Chief Financial Officer James Edgemond divested 21,000 shares on November 24, 2023, for a total of $9,946,440.00, which reflects a 72.06% decrease in his ownership.
Insider transactions over the past 90 days indicate a total of 578,435 shares sold, collectively valued at $252.73 million. Currently, insiders hold 10.30% of the company’s stock.
About Lisa McClain: McClain has represented Michigan’s 9th Congressional District since assuming office on January 3, 2023. Her current term extends until January 3, 2027, and she is seeking re-election for the 2026 election. McClain holds a bachelor’s degree in business administration from Northwood University and has a background in business as the founder and president of the North End Support Team.
United Therapeutics Corporation is a biotechnology firm dedicated to developing products that address chronic and life-threatening diseases. The company’s portfolio includes treatments for pulmonary arterial hypertension, such as Tyvaso and Remodulin, aimed at improving patients’ quality of life.
The ongoing developments surrounding Representative McClain’s financial activities and the performance of United Therapeutics underscore the intricate connections between politics and the financial markets.
