Prometheus Biosciences, Inc. (NASDAQ:RXDX – Get Rating) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 3,170,000 shares, a growth of 29.9% from the April 15th total of 2,440,000 shares. Based on an average daily volume of 374,000 shares, the short-interest ratio is currently 8.5 days. Currently, 12.3% of the company’s shares are sold short.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio raised its stake in shares of Prometheus Biosciences by 169.2% in the 4th quarter. Strs Ohio now owns 7,000 shares of the biopharmaceutical company’s stock valued at $276,000 after purchasing an additional 4,400 shares during the period. Dowling & Yahnke LLC bought a new position in shares of Prometheus Biosciences in the 4th quarter valued at about $944,000. Citigroup Inc. grew its holdings in shares of Prometheus Biosciences by 140.2% in the 3rd quarter. Citigroup Inc. now owns 1,290 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 753 shares in the last quarter. Laurion Capital Management LP grew its holdings in shares of Prometheus Biosciences by 171.9% in the 3rd quarter. Laurion Capital Management LP now owns 168,798 shares of the biopharmaceutical company’s stock valued at $4,003,000 after acquiring an additional 106,714 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY bought a new position in shares of Prometheus Biosciences in the 3rd quarter valued at about $88,000. 65.41% of the stock is currently owned by hedge funds and other institutional investors.
Prometheus Biosciences stock traded up $1.12 during mid-day trading on Tuesday, hitting $31.47. 29,496 shares of the company’s stock were exchanged, compared to its average volume of 542,399. The firm has a market capitalization of $1.23 billion, a P/E ratio of -11.76 and a beta of 2.63. Prometheus Biosciences has a fifty-two week low of $17.25 and a fifty-two week high of $51.96. The company has a quick ratio of 13.56, a current ratio of 13.56 and a debt-to-equity ratio of 0.07. The company’s 50 day simple moving average is $35.05 and its 200-day simple moving average is $35.83.
Several research firms have recently issued reports on RXDX. Wells Fargo & Company raised their price target on Prometheus Biosciences from $42.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, March 10th. BTIG Research began coverage on Prometheus Biosciences in a research report on Friday, February 11th. They issued a “buy” rating and a $62.00 price target on the stock. SVB Leerink restated an “outperform” rating on shares of Prometheus Biosciences in a research report on Thursday, May 12th. Credit Suisse Group raised their price target on Prometheus Biosciences from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, March 10th. Finally, Zacks Investment Research raised Prometheus Biosciences from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $52.88.
Prometheus Biosciences Company Profile (Get Rating)
Prometheus Biosciences, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of novel therapeutics and companion diagnostics products for the treatment of inflammatory bowel diseases (IBD). Its lead product includes PRA023, a humanized IgG1 monoclonal antibody (mAb), which is in Phase IIa clinical trial for the treatment of ulcerative colitis and Crohn's disease, as well as systemic sclerosis-associated interstitial lung disease.
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