Putnam Investments LLC Buys New Stake in Prometheus Biosciences, Inc. (NASDAQ:RXDX)

Posted by Defense World Staff on Mar 13th, 2023

Putnam Investments LLC purchased a new stake in shares of Prometheus Biosciences, Inc. (NASDAQ:RXDX – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 36,713 shares of the biopharmaceutical company’s stock, valued at approximately $2,166,000. Putnam Investments LLC owned 0.09% of Prometheus Biosciences as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of RXDX. Allspring Global Investments Holdings LLC increased its position in shares of Prometheus Biosciences by 197.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,406 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 933 shares during the period. Amundi bought a new stake in shares of Prometheus Biosciences during the 2nd quarter worth $100,000. UBS Group AG boosted its stake in shares of Prometheus Biosciences by 249.8% during the 3rd quarter. UBS Group AG now owns 1,903 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 1,359 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Prometheus Biosciences by 1,128.1% during the 2nd quarter. Quantbot Technologies LP now owns 5,158 shares of the biopharmaceutical company’s stock worth $145,000 after acquiring an additional 4,738 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Prometheus Biosciences by 7.4% during the 2nd 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 in the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RXDX shares. BTIG Research raised their price objective on Prometheus Biosciences from $74.00 to $181.00 and gave the stock a “buy” rating in a research note on Thursday, December 8th. Piper Sandler lifted their target price on Prometheus Biosciences from $114.00 to $138.00 in a research report on Wednesday, March 1st. Royal Bank of Canada lifted their price objective on Prometheus Biosciences from $66.00 to $111.00 in a report on Wednesday, December 7th. Oppenheimer boosted their target price on Prometheus Biosciences from $125.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. Finally, Wells Fargo & Company boosted their target price on Prometheus Biosciences from $71.00 to $164.00 in a report on Thursday, December 8th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Prometheus Biosciences presently has a consensus rating of “Buy” and an average target price of $136.70.

Prometheus Biosciences Price Performance

Prometheus Biosciences stock opened at $114.37 on Monday. The firm has a 50-day moving average of $116.24 and a 200-day moving average of $81.18. Prometheus Biosciences, Inc. has a one year low of $21.50 and a one year high of $129.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 31.04 and a current ratio of 31.04.

Prometheus Biosciences (NASDAQ:RXDX – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.01. The company had revenue of $0.65 million during the quarter, compared to the consensus estimate of $0.47 million. Prometheus Biosciences had a negative net margin of 2,081.83% and a negative return on equity of 43.38%. Prometheus Biosciences’s quarterly revenue was down 37.0% on a year-over-year basis. On average, equities analysts anticipate that Prometheus Biosciences, Inc. will post -4.03 earnings per share for the current year.

Insider Activity

In other news, CFO Keith W. Marshall sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $119.00, for a total value of $595,000.00. Following the sale, the chief financial officer now directly owns 9,811 shares of the company’s stock, valued at approximately $1,167,509. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Prometheus Biosciences news, CFO Keith W. Marshall sold 5,000 shares of the stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $119.00, for a total value of $595,000.00. Following the transaction, the chief financial officer now directly owns 9,811 shares of the company’s stock, valued at approximately $1,167,509. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sinai Intellectual Prop Cedars sold 865,000 shares of the stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $114.59, for a total transaction of $99,120,350.00. Following the completion of the transaction, the insider now directly owns 4,001,132 shares in the company, valued at $458,489,715.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 946,320 shares of company stock valued at $108,921,613. 3.40% of the stock is owned by company insiders.

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.