First Trust Advisors LP Acquires 26,916 Shares of Prometheus Biosciences, Inc. (NASDAQ:RXDX)

Posted by on May 24th, 2023

First Trust Advisors LP boosted its position in Prometheus Biosciences, Inc. (NASDAQ:RXDX – Get Rating) by 30.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,534 shares of the biopharmaceutical company’s stock after acquiring an additional 26,916 shares during the period. First Trust Advisors LP owned 0.28% of Prometheus Biosciences worth $12,819,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RXDX. State Street Corp lifted its stake in Prometheus Biosciences by 226.9% in the 3rd quarter. State Street Corp now owns 1,586,074 shares of the biopharmaceutical company’s stock valued at $93,594,000 after acquiring an additional 1,100,857 shares in the last quarter. Fred Alger Management LLC grew its holdings in Prometheus Biosciences by 325.5% in the 3rd quarter. Fred Alger Management LLC now owns 1,036,165 shares of the biopharmaceutical company’s stock valued at $61,144,000 after buying an additional 792,620 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Prometheus Biosciences by 26.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,561,606 shares of the biopharmaceutical company’s stock valued at $92,151,000 after acquiring an additional 328,397 shares during the period. Federated Hermes Inc. bought a new stake in shares of Prometheus Biosciences during the 3rd quarter valued at $18,891,000. Finally, BlackRock Inc. lifted its position in shares of Prometheus Biosciences by 17.6% during the 3rd quarter. BlackRock Inc. now owns 2,134,272 shares of the biopharmaceutical company’s stock worth $125,945,000 after buying an additional 319,310 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Stifel Nicolaus downgraded Prometheus Biosciences from a “buy” rating to a “hold” rating and increased their target price for the company from $155.00 to $200.00 in a research report on Sunday, April 16th. Royal Bank of Canada downgraded Prometheus Biosciences from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, April 18th. Wells Fargo & Company cut Prometheus Biosciences from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, April 18th. Piper Sandler cut Prometheus Biosciences from an “overweight” rating to a “neutral” rating in a research note on Monday, April 17th. Finally, Jefferies Financial Group cut Prometheus Biosciences from a “buy” rating to a “hold” rating and raised their target price for the stock from $160.00 to $200.00 in a research note on Wednesday, May 10th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $153.36.

Insider Buying and Selling

In related news, CFO Keith W. Marshall sold 10,000 shares of Prometheus Biosciences stock in a transaction on Monday, March 6th. The stock was sold at an average price of $122.13, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Mark C. Mckenna sold 700 shares of Prometheus Biosciences 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 completion of the transaction, 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 document filed with the SEC, which is available through the SEC website. Also, CFO Keith W. Marshall sold 10,000 shares of Prometheus Biosciences stock in a transaction on Monday, March 6th. The shares were sold at an average price of $122.13, for a total value of $1,221,300.00. Following the completion of the transaction, the chief financial officer now owns 9,811 shares of the company’s stock, valued at $1,198,217.43. 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. 3.40% of the stock is owned by company insiders.

Prometheus Biosciences Stock Performance

Shares of Prometheus Biosciences stock opened at $198.70 on Wednesday. The business’s fifty day simple moving average is $155.99 and its 200 day simple moving average is $118.22. The firm has a market capitalization of $9.50 billion, a P/E ratio of -56.45 and a beta of -0.50. Prometheus Biosciences, Inc. has a 12 month low of $22.31 and a 12 month high of $198.99. The company has a current ratio of 37.56, a quick ratio of 37.56 and a debt-to-equity ratio of 0.04.

Prometheus Biosciences (NASDAQ:RXDX – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.86) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.06. The business had revenue of $1.11 million for the quarter, compared to analyst estimates 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 for the quarter was down 71.8% compared to the same quarter last year. As a group, analysts anticipate that Prometheus Biosciences, Inc. will post -3.84 EPS for the current year.

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.

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

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