Lord Abbett & CO. LLC Lowers Position in GW Pharmaceuticals PLC- (GWPH)

Lord Abbett & CO. LLC trimmed its holdings in shares of GW Pharmaceuticals PLC- (NASDAQ:GWPH) by 15.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 533,323 shares of the biopharmaceutical company’s stock after selling 100,161 shares during the quarter. Lord Abbett & CO. LLC’s holdings in GW Pharmaceuticals PLC- were worth $51,940,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Horrell Capital Management Inc. grew its stake in shares of GW Pharmaceuticals PLC- by 33.3% during the 4th quarter. Horrell Capital Management Inc. now owns 400 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Resources Investment Advisors Inc. grew its stake in shares of GW Pharmaceuticals PLC- by 51.9% during the 4th quarter. Resources Investment Advisors Inc. now owns 366 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 125 shares in the last quarter. North Star Investment Management Corp. grew its stake in shares of GW Pharmaceuticals PLC- by 48.2% during the 4th quarter. North Star Investment Management Corp. now owns 615 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 200 shares in the last quarter. Sequoia Wealth Management LLC grew its stake in shares of GW Pharmaceuticals PLC- by 11.4% during the 3rd quarter. Sequoia Wealth Management LLC now owns 2,450 shares of the biopharmaceutical company’s stock worth $423,000 after acquiring an additional 250 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware bought a new position in shares of GW Pharmaceuticals PLC- during the 4th quarter worth approximately $30,000. 79.42% of the stock is owned by institutional investors and hedge funds.

In other news, insider Geoffrey W. Dr Guy sold 1,200,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $14.69, for a total value of $17,628,000.00. Following the completion of the sale, the insider now owns 8,465,528 shares of the company’s stock, valued at approximately $124,358,606.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Justin D. Gover sold 22,620 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $8.33, for a total value of $188,424.60. The disclosure for this sale can be found here. In the last three months, insiders sold 1,893,828 shares of company stock valued at $27,386,377. 5.50% of the stock is currently owned by insiders.



GWPH has been the subject of several research reports. BidaskClub cut shares of GW Pharmaceuticals PLC- from a “hold” rating to a “sell” rating in a research note on Thursday, November 15th. Cantor Fitzgerald set a $211.00 price target on shares of GW Pharmaceuticals PLC- and gave the stock a “buy” rating in a research note on Tuesday, November 27th. Zacks Investment Research cut shares of GW Pharmaceuticals PLC- from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 30th. Oppenheimer initiated coverage on shares of GW Pharmaceuticals PLC- in a research note on Tuesday, December 11th. They set a “hold” rating and a $142.00 price target for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of GW Pharmaceuticals PLC- in a research note on Wednesday, January 2nd. They set an “overweight” rating and a $134.00 price target for the company. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $180.45.

NASDAQ GWPH opened at $168.53 on Thursday. The company has a market capitalization of $5.08 billion, a PE ratio of -15.96 and a beta of 2.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.66 and a quick ratio of 6.34. GW Pharmaceuticals PLC- has a 12 month low of $90.14 and a 12 month high of $182.23.

ILLEGAL ACTIVITY NOTICE: “Lord Abbett & CO. LLC Lowers Position in GW Pharmaceuticals PLC- (GWPH)” was reported by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://dakotafinancialnews.com/2019/03/14/lord-abbett-co-llc-lowers-position-in-gw-pharmaceuticals-plc-gwph.html.

About GW Pharmaceuticals PLC-

GW Pharmaceuticals plc, a biopharmaceutical company, focuses on discovering, developing, and commercializing cannabinoid prescription medicines using botanical extracts derived from the Cannabis plant. Its lead product is Epidiolex, an oral medicine for the treatment of refractory childhood epilepsies, as well as for the treatment of Dravet syndrome, Lennox-Gastaut syndrome, tuberous sclerosis complex, and infantile spasms.

Read More: What is a stock buyback?

Want to see what other hedge funds are holding GWPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GW Pharmaceuticals PLC- (NASDAQ:GWPH).

Institutional Ownership by Quarter for GW Pharmaceuticals PLC- (NASDAQ:GWPH)

Receive News & Ratings for GW Pharmaceuticals PLC- Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GW Pharmaceuticals PLC- and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply