Prometheus Biosciences (NASDAQ:RXDX) Reaches New 52-Week High at $126.58

Prometheus Biosciences, Inc. (NASDAQ:RXDX – Get Rating) hit a new 52-week high during trading on Friday . The company traded as high as $126.58 and last traded at $125.70, with a volume of 167907 shares. The stock had previously closed at $123.23.

Analyst Ratings Changes

A number of brokerages have recently commented on RXDX. BTIG Research lifted their price target on shares of Prometheus Biosciences from $74.00 to $181.00 and gave the stock a “buy” rating in a report on Thursday, December 8th. Oppenheimer lifted their price target on shares of Prometheus Biosciences from $125.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group lifted their price target on shares of Prometheus Biosciences from $117.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Wells Fargo & Company boosted their target price on shares of Prometheus Biosciences from $71.00 to $164.00 in a report on Thursday, December 8th. Finally, Piper Sandler boosted their target price on shares of Prometheus Biosciences from $114.00 to $138.00 in a report on Wednesday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Prometheus Biosciences presently has an average rating of “Buy” and an average target price of $121.70.

Prometheus Biosciences Trading Up 2.0 %

The business’s 50-day moving average price is $115.01 and its 200 day moving average price is $78.45. The company has a debt-to-equity ratio of 0.04, a current ratio of 31.04 and a quick ratio of 11.19. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of -36.13 and a beta of -0.49.

Prometheus Biosciences (NASDAQ:RXDX – Get Rating) last posted its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.01. Prometheus Biosciences had a negative net margin of 2,081.83% and a negative return on equity of 43.38%. The business had revenue of $0.65 million for the quarter, compared to analysts’ expectations of $0.47 million. Prometheus Biosciences’s revenue was down 37.0% on a year-over-year basis. On average, equities analysts forecast that Prometheus Biosciences, Inc. will post -3.86 earnings per share for the current fiscal year.

Insider Activity at Prometheus Biosciences

In related news, CEO Mark C. Mckenna sold 25,000 shares of the company’s stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Prometheus Biosciences news, CFO Keith W. Marshall sold 5,000 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 9,811 shares in the company, valued at $1,167,509. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark C. Mckenna sold 25,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 55,144 shares of the company’s stock, valued at approximately $6,561,584.56. The disclosure for this sale can be found here. Insiders have sold 71,320 shares of company stock valued at $8,579,963 over the last ninety days. Corporate insiders own 13.08% of the company’s stock.

Institutional Trading of Prometheus Biosciences

Several institutional investors have recently added to or reduced their stakes in RXDX. Amalgamated Bank grew its position in shares of Prometheus Biosciences by 6.4% during the third quarter. Amalgamated Bank now owns 4,952 shares of the biopharmaceutical company’s stock worth $292,000 after acquiring an additional 298 shares during the last quarter. Metropolitan Life Insurance Co NY grew its position in shares of Prometheus Biosciences by 20.5% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,160 shares of the biopharmaceutical company’s stock worth $238,000 after acquiring an additional 368 shares during the last quarter. Legal & General Group Plc grew its position in shares of Prometheus Biosciences by 7.4% during the second quarter. Legal & General Group Plc now owns 5,613 shares of the biopharmaceutical company’s stock worth $158,000 after acquiring an additional 389 shares during the last quarter. Truist Financial Corp grew its position in shares of Prometheus Biosciences by 12.0% during the fourth quarter. Truist Financial Corp now owns 3,949 shares of the biopharmaceutical company’s stock worth $434,000 after acquiring an additional 424 shares during the last quarter. Finally, LPL Financial LLC grew its position in shares of Prometheus Biosciences by 8.9% during the fourth quarter. LPL Financial LLC now owns 5,466 shares of the biopharmaceutical company’s stock worth $601,000 after acquiring an additional 449 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.

About Prometheus Biosciences

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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.