Russell Investments Group Ltd. Sells 40,499 Shares of Prometheus Biosciences, Inc. (NASDAQ:RXDX)

Posted by Defense World Staff on May 17th, 2023

Russell Investments Group Ltd. lessened its holdings in Prometheus Biosciences, Inc. (NASDAQ:RXDX – Get Rating) by 48.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,677 shares of the biopharmaceutical company’s stock after selling 40,499 shares during the quarter. Russell Investments Group Ltd. owned 0.10% of Prometheus Biosciences worth $4,804,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Prometheus Biosciences by 197.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,406 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 933 shares during the last quarter. UBS Group AG increased its position in shares of Prometheus Biosciences by 249.8% during the 3rd quarter. UBS Group AG now owns 1,903 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 1,359 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Prometheus Biosciences by 1,128.1% during the 2nd quarter. Quantbot Technologies LP now owns 5,158 shares of the biopharmaceutical company’s stock worth $145,000 after purchasing an additional 4,738 shares in the last quarter. Legal & General Group Plc increased its position in shares of Prometheus Biosciences by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 5,613 shares of the biopharmaceutical company’s stock worth $158,000 after purchasing an additional 389 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 in the last quarter. Institutional investors own 78.31% of the company’s stock.

Insider Activity

In other news, CFO Keith W. Marshall sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $108.42, for a total value of $1,084,200.00. Following the transaction, the chief financial officer now owns 9,811 shares of the company’s stock, valued at approximately $1,063,708.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mark C. Mckenna sold 10,620 shares of Prometheus Biosciences stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $125.13, for a total transaction of $1,328,880.60. Following the transaction, the chief executive officer now owns 55,144 shares of the company’s stock, valued at approximately $6,900,168.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith W. Marshall sold 10,000 shares of Prometheus Biosciences stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $108.42, for a total transaction of $1,084,200.00. Following the transaction, the chief financial officer now directly owns 9,811 shares in the company, valued at approximately $1,063,708.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 946,320 shares of company stock valued at $108,742,663. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RXDX has been the subject of a number of recent analyst reports. Royal Bank of Canada cut shares of Prometheus Biosciences from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, April 18th. Jefferies Financial Group cut shares of Prometheus Biosciences from a “buy” rating to a “hold” rating and increased their target price for the stock from $160.00 to $200.00 in a research report on Wednesday, May 10th. Guggenheim cut shares of Prometheus Biosciences from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $225.00 to $200.00 in a research report on Monday, April 17th. Wells Fargo & Company cut shares of Prometheus Biosciences from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, April 18th. Finally, Stifel Nicolaus lowered shares of Prometheus Biosciences from a “buy” rating to a “hold” rating and increased their price objective for the stock from $155.00 to $200.00 in a report on Sunday, April 16th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $153.36.

Prometheus Biosciences Stock Down 1.0 %

Shares of NASDAQ:RXDX opened at $192.53 on Wednesday. The firm has a market cap of $9.20 billion, a P/E ratio of -54.70 and a beta of -0.50. The company has a quick ratio of 37.56, a current ratio of 37.56 and a debt-to-equity ratio of 0.04. Prometheus Biosciences, Inc. has a 12 month low of $22.31 and a 12 month high of $197.83. The company’s 50-day moving average price is $148.52 and its two-hundred day moving average price is $113.17.

Prometheus Biosciences (NASDAQ:RXDX – Get Rating) last issued its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.06. The company had revenue of $1.11 million for the quarter, compared to analyst estimates of $0.46 million. Prometheus Biosciences had a negative net margin of 3,768.76% and a negative return on equity of 33.50%. The company’s revenue for the quarter was down 71.8% compared to the same quarter last year. As a group, research analysts forecast that Prometheus Biosciences, Inc. will post -3.94 EPS for the current fiscal year.

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.