American International Group Inc. Purchases 1,925 Shares of Prometheus Biosciences, Inc. (NASDAQ:RXDX)

Posted by Defense World Staff on Jun 7th, 2023

American International Group Inc. lifted its position in shares of Prometheus Biosciences, Inc. (NASDAQ:RXDX – Get Rating) by 13.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,459 shares of the biopharmaceutical company’s stock after purchasing an additional 1,925 shares during the period. American International Group Inc.’s holdings in Prometheus Biosciences were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fred Alger Management LLC lifted its holdings in Prometheus Biosciences by 325.5% during the 3rd quarter. Fred Alger Management LLC now owns 1,036,165 shares of the biopharmaceutical company’s stock worth $61,144,000 after buying an additional 792,620 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Prometheus Biosciences by 16.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,051 shares of the biopharmaceutical company’s stock valued at $1,766,000 after acquiring an additional 2,241 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Prometheus Biosciences during the 3rd quarter valued at approximately $248,000. Quantamental Technologies LLC bought a new position in Prometheus Biosciences during the 3rd quarter worth approximately $283,000. Finally, SG Americas Securities LLC lifted its position in shares of Prometheus Biosciences by 84.5% in the 4th quarter. SG Americas Securities LLC now owns 12,107 shares of the biopharmaceutical company’s stock worth $1,332,000 after purchasing an additional 5,544 shares during the period. Institutional investors and hedge funds own 78.31% of the company’s stock.

Prometheus Biosciences Stock Performance

NASDAQ RXDX opened at $198.85 on Wednesday. The company has a market cap of $9.51 billion, a P/E ratio of -56.49 and a beta of -0.49. The company has a fifty day simple moving average of $173.42 and a 200 day simple moving average of $128.84. 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, Inc. has a 12-month low of $22.31 and a 12-month high of $199.08.

Prometheus Biosciences (NASDAQ:RXDX – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.06. Prometheus Biosciences had a negative net margin of 3,768.76% and a negative return on equity of 33.50%. The firm had revenue of $1.11 million during the quarter, compared to analysts’ expectations of $0.46 million. Prometheus Biosciences’s quarterly revenue was down 71.8% compared to the same quarter last year. Sell-side analysts predict that Prometheus Biosciences, Inc. will post -3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RXDX. Royal Bank of Canada downgraded shares of Prometheus Biosciences from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, April 18th. Oppenheimer boosted their price objective on Prometheus Biosciences from $125.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, March 1st. Wells Fargo & Company cut Prometheus Biosciences from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, April 18th. Jefferies Financial Group lowered Prometheus Biosciences from a “buy” rating to a “hold” rating and boosted their price target for the company from $160.00 to $200.00 in a research note on Wednesday, May 10th. Finally, Piper Sandler cut Prometheus Biosciences from an “overweight” rating to a “neutral” rating in a report on Monday, April 17th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $153.36.

Insiders Place Their Bets

In other news, CFO Keith W. Marshall sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $108.42, for a total value of $1,084,200.00. Following the transaction, the chief financial officer now owns 9,811 shares in the company, valued at $1,063,708.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Keith W. Marshall sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $108.42, for a total value of $1,084,200.00. Following the completion of the sale, the chief financial officer now owns 9,811 shares in the company, valued at approximately $1,063,708.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark C. Mckenna sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $116.14, for a total transaction of $2,903,500.00. Following the transaction, the chief executive officer now directly owns 55,144 shares in the company, valued at $6,404,424.16. The disclosure for this sale can be found here. Corporate insiders own 3.40% 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.