Prometheus Biosciences, Inc. (NASDAQ:RXDX) CEO Sells $2,974,750.00 in Stock

Prometheus Biosciences, Inc. (NASDAQ:RXDX – Get Rating) 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 value of $2,974,750.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at the SEC website.

Prometheus Biosciences Stock Performance

RXDX opened at $115.00 on Friday. Prometheus Biosciences, Inc. has a 52-week low of $21.50 and a 52-week high of $122.75. The firm has a market capitalization of $4.82 billion, a PE ratio of -34.33 and a beta of -0.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 11.19 and a current ratio of 11.19. The business’s 50-day simple moving average is $87.83 and its 200 day simple moving average is $61.75.

Prometheus Biosciences (NASDAQ:RXDX – Get Rating) last released 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 company had revenue of $0.97 million for the quarter, compared to the consensus estimate of $0.77 million. Prometheus Biosciences had a negative return on equity of 61.37% and a negative net margin of 1,847.71%. As a group, sell-side analysts expect that Prometheus Biosciences, Inc. will post -3.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RXDX. Royal Bank of Canada boosted their target price on Prometheus Biosciences from $66.00 to $111.00 in a research note on Wednesday, December 7th. Wells Fargo & Company boosted their price target on Prometheus Biosciences from $71.00 to $164.00 in a report on Thursday, December 8th. BTIG Research boosted their price target on Prometheus Biosciences from $74.00 to $181.00 and gave the company a “buy” rating in a report on Thursday, December 8th. Piper Sandler boosted their price target on Prometheus Biosciences from $67.00 to $114.00 in a report on Wednesday, December 7th. Finally, Oppenheimer boosted their price target on Prometheus Biosciences from $61.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, December 8th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $107.80.

Institutional Trading of Prometheus Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Prometheus Biosciences by 17.6% in the third quarter. BlackRock Inc. now owns 2,134,272 shares of the biopharmaceutical company’s stock valued at $125,945,000 after buying an additional 319,310 shares during the period. State Street Corp raised its stake in Prometheus Biosciences by 226.9% in the third quarter. State Street Corp now owns 1,586,074 shares of the biopharmaceutical company’s stock valued at $93,594,000 after buying an additional 1,100,857 shares during the period. Vanguard Group Inc. raised its stake in Prometheus Biosciences by 26.6% in the third quarter. Vanguard Group Inc. now owns 1,561,606 shares of the biopharmaceutical company’s stock valued at $92,151,000 after buying an additional 328,397 shares during the period. Point72 Asset Management L.P. raised its stake in Prometheus Biosciences by 2,632.9% in the second quarter. Point72 Asset Management L.P. now owns 1,366,426 shares of the biopharmaceutical company’s stock valued at $38,574,000 after buying an additional 1,316,426 shares during the period. Finally, Woodline Partners LP raised its stake in Prometheus Biosciences by 164.7% in the second quarter. Woodline Partners LP now owns 1,191,661 shares of the biopharmaceutical company’s stock valued at $33,641,000 after buying an additional 741,403 shares during the period. 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.