BlackRock Inc. acquired 5,294,529 shares of United Therapeutics Corporation (NASDAQ:UTHR) during the second quarter. This investment is valued at approximately $2.87 billion. The purchase gives BlackRock a 12.47% ownership stake in the biotechnology company.
Other institutional investors also recently increased their positions. First National Bank of Omaha purchased $2.82 million in shares. Pallas Capital Advisors LLC completed a $1.21 million acquisition.
Institutional investors now control 94.08% of the company's total stock. BlackRock’s significant entry reflects growing institutional confidence in the firm’s future performance.