State Board of Administration of Florida Retirement System Invests $332,000 in Prometheus Biosciences, Inc. (NASDAQ:RXDX)

State Board of Administration of Florida Retirement System bought a new position in shares of Prometheus Biosciences, Inc. (NASDAQ:RXDXGet Rating) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 11,774 shares of the biopharmaceutical company’s stock, valued at approximately $332,000.

Several other large investors have also made changes to their positions in RXDX. DekaBank Deutsche Girozentrale raised its stake in shares of Prometheus Biosciences by 10.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 14,300 shares of the biopharmaceutical company’s stock worth $537,000 after buying an additional 1,300 shares during the period. Nisa Investment Advisors LLC acquired a new position in shares of Prometheus Biosciences during the 1st quarter worth approximately $31,000. Calamos Advisors LLC acquired a new position in shares of Prometheus Biosciences during the 1st quarter worth approximately $1,800,000. Prospera Financial Services Inc acquired a new position in Prometheus Biosciences in the 1st quarter valued at $156,000. Finally, Russell Investments Group Ltd. acquired a new position in Prometheus Biosciences in the 1st quarter valued at $2,233,000. 74.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RXDX. Credit Suisse Group increased their price objective on Prometheus Biosciences from $52.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday, August 12th. SVB Leerink increased their price objective on Prometheus Biosciences from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, August 12th. Royal Bank of Canada increased their price objective on Prometheus Biosciences from $61.00 to $66.00 in a research note on Tuesday, October 4th. Wells Fargo & Company increased their price objective on Prometheus Biosciences from $51.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, August 29th. Finally, Piper Sandler increased their price objective on Prometheus Biosciences from $53.00 to $67.00 and gave the company an “overweight” rating in a research note on Sunday, August 28th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $64.30.

Prometheus Biosciences Stock Performance

NASDAQ RXDX opened at $45.47 on Monday. The stock has a market cap of $1.91 billion, a PE ratio of -13.57 and a beta of 1.38. The company has a current ratio of 11.19, a quick ratio of 11.19 and a debt-to-equity ratio of 0.11. Prometheus Biosciences, Inc. has a twelve month low of $21.50 and a twelve month high of $63.13. The stock has a fifty day simple moving average of $52.14 and a 200-day simple moving average of $41.51.

Prometheus Biosciences 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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Institutional Ownership by Quarter for Prometheus Biosciences (NASDAQ:RXDX)

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