Prometheus Biosciences (NASDAQ:RXDX) Stock Price Down 3.7% on Insider Selling

Prometheus Biosciences, Inc. (NASDAQ:RXDXGet Rating)’s share price was down 3.7% during mid-day trading on Friday following insider selling activity. The stock traded as low as $113.34 and last traded at $113.65. Approximately 4,922 shares changed hands during trading, a decline of 99% from the average daily volume of 648,055 shares. The stock had previously closed at $118.00.

Specifically, CEO Mark C. Mckenna sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $118.99, for a total transaction of $2,974,750.00. Following the completion of the sale, the chief executive officer now directly owns 55,144 shares of the company’s stock, valued at $6,561,584.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Prometheus Biosciences news, CEO Mark C. Mckenna sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $118.99, for a total value of $2,974,750.00. Following the completion of the sale, the chief executive officer now directly owns 55,144 shares of the company’s stock, valued at approximately $6,561,584.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Keith W. Marshall sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $119.00, for a total transaction of $595,000.00. Following the completion of the transaction, the chief financial officer now owns 9,811 shares in the company, valued at $1,167,509. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RXDX shares. Stifel Nicolaus upped their price target on shares of Prometheus Biosciences from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 1st. Oppenheimer upped their price target on shares of Prometheus Biosciences from $61.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, December 8th. BTIG Research upped their price target on shares of Prometheus Biosciences from $74.00 to $181.00 and gave the company a “buy” rating in a research note on Thursday, December 8th. Credit Suisse Group increased their target price on shares of Prometheus Biosciences from $59.00 to $142.00 and gave the stock an “outperform” rating in a research note on Thursday, December 8th. Finally, Wells Fargo & Company increased their target price on shares of Prometheus Biosciences from $71.00 to $164.00 in a research note on Thursday, December 8th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $107.80.

Prometheus Biosciences Stock Performance

The firm has a market capitalization of $4.82 billion, a P/E ratio of -34.33 and a beta of -0.48. The company has a current ratio of 11.19, a quick ratio of 11.19 and a debt-to-equity ratio of 0.11. The business’s 50 day simple moving average is $87.83 and its two-hundred day simple moving average is $61.75.

Prometheus Biosciences (NASDAQ:RXDXGet Rating) last announced its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.01). The business had revenue of $0.97 million for the quarter, compared to the consensus estimate of $0.77 million. Prometheus Biosciences had a negative net margin of 1,847.71% and a negative return on equity of 61.37%. Sell-side analysts anticipate that Prometheus Biosciences, Inc. will post -3.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Prometheus Biosciences

Hedge funds have recently bought and sold shares of the business. Amalgamated Bank grew its holdings in shares of Prometheus Biosciences by 6.4% in the third quarter. Amalgamated Bank now owns 4,952 shares of the biopharmaceutical company’s stock worth $292,000 after purchasing an additional 298 shares during the last quarter. Legal & General Group Plc increased its holdings in Prometheus Biosciences by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 5,613 shares of the biopharmaceutical company’s stock worth $158,000 after buying an additional 389 shares during the period. Strs Ohio grew its stake in shares of Prometheus Biosciences by 5.7% during the 2nd quarter. Strs Ohio now owns 7,400 shares of the biopharmaceutical company’s stock worth $208,000 after purchasing an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Prometheus Biosciences by 29.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,897 shares of the biopharmaceutical company’s stock worth $171,000 after purchasing an additional 662 shares during the period. Finally, Values First Advisors Inc. grew its stake in Prometheus Biosciences by 8.6% in the 3rd quarter. Values First Advisors Inc. now owns 8,589 shares of the biopharmaceutical company’s stock valued at $507,000 after acquiring an additional 682 shares during the period. Hedge funds and other institutional investors own 78.31% of the company’s stock.

Prometheus Biosciences Company Profile

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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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