Tobira Therapeutics Inc. (NASDAQ:TBRA) shares were down 4.4% on Monday . The company traded as low as $3.82 and last traded at $3.90, with a volume of 148,490 shares. The stock had previously closed at $4.08.

TBRA has been the subject of several recent research reports. HC Wainwright initiated coverage on Tobira Therapeutics in a research note on Monday, April 11th. They issued a “buy” rating and a $22.00 price target for the company. Zacks Investment Research downgraded Tobira Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, April 22nd. Leerink Swann restated a “buy” rating on shares of Tobira Therapeutics in a research note on Monday, May 2nd. Cowen and Company restated a “buy” rating on shares of Tobira Therapeutics in a research note on Tuesday, May 10th. Finally, Cantor Fitzgerald initiated coverage on Tobira Therapeutics in a research note on Wednesday, July 6th. They issued a “buy” rating and a $27.00 price target for the company. Five research analysts have rated the stock with a buy rating, Tobira Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $16.95.

The company’s market capitalization is $73.19 million. The firm’s 50 day moving average price is $9.88 and its 200-day moving average price is $8.50.

In other news, major shareholder A/S Novo sold 66,814 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $13.04, for a total value of $871,254.56. Following the transaction, the insider now owns 2,073,022 shares in the company, valued at $27,032,206.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

An institutional investor recently bought a new position in Tobira Therapeutics stock. Marshall Wace LLP purchased a new position in shares of Tobira Therapeutics Inc. (NASDAQ:TBRA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 107,493 shares of the biopharmaceutical company’s stock, valued at approximately $1,080,000. Marshall Wace LLP owned 0.57% of Tobira Therapeutics as of its most recent SEC filing.

Tobira Therapeutics, Inc, formerly Regado Biosciences, Inc, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapies to treat liver disease, inflammation, fibrosis and human immunodeficiency virus (HIV). The Company’s lead product candidate, cenicriviroc (CVC), is an immunomodulator and dual inhibitor of C-C Chemokine Receptor 2 (CCR2) and C-C Chemokine Receptor 5 (CCR5) being evaluated for the treatment of non-alcoholic steatohepatitis (NASH), primary sclerosing cholangitis (PSC), and as an adjunctive therapy to standard of care in HIV.

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