Prometheus Biosciences (NASDAQ:RXDX) Sees Unusually-High Trading Volume

Posted by Stuart Ham on May 26th, 2023

Shares of Prometheus Biosciences, Inc. (NASDAQ:RXDX – Get Rating) saw unusually-high trading volume on Wednesday . Approximately 875,954 shares changed hands during trading, an increase of 1% from the previous session’s volume of 871,119 shares.The stock last traded at $198.72 and had previously closed at $198.70.

Analyst Ratings Changes

RXDX has been the topic of several research analyst reports. Piper Sandler cut Prometheus Biosciences from an “overweight” rating to a “neutral” rating in a report on Monday, April 17th. Royal Bank of Canada lowered Prometheus Biosciences from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, April 18th. Oppenheimer upped their price target on Prometheus Biosciences from $125.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, March 1st. Wells Fargo & Company lowered Prometheus Biosciences from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, April 18th. Finally, Stifel Nicolaus lowered Prometheus Biosciences from a “buy” rating to a “hold” rating and increased their target price for the company from $155.00 to $200.00 in a research note on Sunday, April 16th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Prometheus Biosciences presently has a consensus rating of “Hold” and an average target price of $153.36.

Prometheus Biosciences Trading Down 0.0 %

The company has a current ratio of 37.56, a quick ratio of 37.56 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $159.25 and a 200 day moving average price of $119.34.

Prometheus Biosciences (NASDAQ:RXDX – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.06. The business had revenue of $1.11 million during the quarter, compared to the consensus estimate of $0.46 million. Prometheus Biosciences had a negative return on equity of 33.50% and a negative net margin of 3,768.76%. Prometheus Biosciences’s revenue was down 71.8% on a year-over-year basis. Research analysts anticipate that Prometheus Biosciences, Inc. will post -3.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Prometheus Biosciences

In other news, 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 completion of the transaction, the chief financial officer now directly owns 9,811 shares in the company, valued at approximately $1,063,708.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Sinai Intellectual Prop Cedars sold 865,000 shares of Prometheus Biosciences stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $114.59, for a total transaction of $99,120,350.00. Following the completion of the sale, the insider now directly owns 4,001,132 shares of the company’s stock, valued at approximately $458,489,715.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 value of $1,084,200.00. Following the sale, the chief financial officer now directly owns 9,811 shares of the company’s stock, valued at $1,063,708.62. The disclosure for this sale can be found here. Insiders sold a total of 921,320 shares of company stock worth $105,745,913 over the last ninety days. 13.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Prometheus Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RXDX. Clearstead Advisors LLC acquired a new position in Prometheus Biosciences in the 1st quarter valued at $39,000. Assetmark Inc. acquired a new position in Prometheus Biosciences in the 1st quarter valued at $41,000. Sandia Investment Management LP acquired a new position in Prometheus Biosciences in the 4th quarter valued at $55,000. China Universal Asset Management Co. Ltd. raised its holdings in Prometheus Biosciences by 51.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 644 shares of the biopharmaceutical company’s stock valued at $69,000 after acquiring an additional 218 shares in the last quarter. Finally, Money Concepts Capital Corp acquired a new position in Prometheus Biosciences in the 4th quarter valued at $71,000. 78.31% of the stock is owned by institutional investors and hedge funds.

About Prometheus Biosciences

(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.