Prometheus Biosciences (NASDAQ:RXDX) Reaches New 1-Year High at $198.99

Prometheus Biosciences, Inc. (NASDAQ:RXDX – Get Rating)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $198.99 and last traded at $198.75, with a volume of 704279 shares changing hands. The stock had previously closed at $193.45.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RXDX shares. Stifel Nicolaus lowered 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 research report on Sunday, April 16th. The Goldman Sachs Group increased their price objective on Prometheus Biosciences from $117.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Credit Suisse Group lowered Prometheus Biosciences from an “outperform” rating to a “neutral” rating in a research report on Monday, April 17th. Royal Bank of Canada lowered Prometheus Biosciences from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, April 18th. Finally, Jefferies Financial Group lowered Prometheus Biosciences from a “buy” rating to a “hold” rating and increased their price objective for the stock from $160.00 to $200.00 in a research report on Wednesday, May 10th. Seven investment 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, the company has a consensus rating of “Hold” and an average price target of $153.36.

Prometheus Biosciences Stock Performance

The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of -56.44 and a beta of -0.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 37.56 and a quick ratio of 37.56. The firm has a 50 day moving average price of $157.65 and a 200-day moving average price of $118.78.

Prometheus Biosciences (NASDAQ:RXDX – Get Rating) last announced its quarterly earnings data 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 business had revenue of $1.11 million for the quarter, compared to analysts’ expectations 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. As a group, sell-side analysts expect that Prometheus Biosciences, Inc. will post -3.84 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mark C. Mckenna sold 700 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $125.26, for a total value of $87,682.00. Following the sale, the chief executive officer now directly owns 55,144 shares in the company, valued at $6,907,337.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Prometheus Biosciences news, CFO Keith W. Marshall sold 10,000 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $122.13, for a total value of $1,221,300.00. Following the sale, the chief financial officer now directly owns 9,811 shares in the company, valued at $1,198,217.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark C. Mckenna sold 700 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $125.26, for a total value of $87,682.00. Following the completion of the sale, the chief executive officer now owns 55,144 shares in the company, valued at $6,907,337.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 921,320 shares of company stock worth $105,745,913. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Prometheus Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of RXDX. 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 in the last quarter. Farallon Capital Management LLC increased its position in shares of Prometheus Biosciences by 658.7% during the first quarter. Farallon Capital Management LLC now owns 1,100,806 shares of the biopharmaceutical company’s stock worth $118,138,000 after purchasing an additional 955,706 shares in the last quarter. Fred Alger Management LLC increased its position in shares of Prometheus Biosciences by 325.5% during the third quarter. Fred Alger Management LLC now owns 1,036,165 shares of the biopharmaceutical company’s stock worth $61,144,000 after purchasing an additional 792,620 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Prometheus Biosciences by 113.5% during the fourth quarter. Point72 Asset Management L.P. now owns 1,266,083 shares of the biopharmaceutical company’s stock worth $139,269,000 after purchasing an additional 673,187 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Prometheus Biosciences by 112.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 864,539 shares of the biopharmaceutical company’s stock worth $95,100,000 after purchasing an additional 457,288 shares in the last quarter. 78.31% of the stock is currently 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.