Prometheus Biosciences (NASDAQ:RXDX) Trading Up 3.8%

Prometheus Biosciences, Inc. (NASDAQ:RXDX) shares were up 3.8% during trading on Thursday . The company traded as high as $22.90 and last traded at $22.90. Approximately 2,929 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 210,758 shares. The stock had previously closed at $22.07.

RXDX has been the topic of a number of recent analyst reports. SVB Leerink initiated coverage on Prometheus Biosciences in a research report on Tuesday, April 13th. They set an “outperform” rating and a $34.00 price target on the stock. Credit Suisse Group initiated coverage on Prometheus Biosciences in a research report on Tuesday, April 13th. They set an “outperform” rating and a $30.00 price target on the stock. Guggenheim initiated coverage on Prometheus Biosciences in a research report on Tuesday, April 13th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Prometheus Biosciences in a research report on Monday, May 24th.

The company’s 50-day moving average is $22.76. The company has a quick ratio of 36.26, a current ratio of 36.26 and a debt-to-equity ratio of 0.02.

Prometheus Biosciences (NASDAQ:RXDX) last released its earnings results on Wednesday, May 12th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($1.30). The firm had revenue of $0.76 million during the quarter. Analysts forecast that Prometheus Biosciences, Inc. will post -2.01 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Suvretta Capital Management LLC acquired a new stake in Prometheus Biosciences during the first quarter worth $10,564,000. Caas Capital Management LP acquired a new stake in shares of Prometheus Biosciences in the first quarter valued at $274,000. Great Point Partners LLC acquired a new stake in shares of Prometheus Biosciences in the first quarter valued at $4,565,000. Woodline Partners LP acquired a new stake in shares of Prometheus Biosciences in the first quarter valued at $3,841,000. Finally, RTW Investments LP acquired a new stake in shares of Prometheus Biosciences in the first quarter valued at $51,727,000. 61.38% of the stock is owned by hedge funds and other institutional investors.

About Prometheus Biosciences (NASDAQ:RXDX)

Prometheus Biosciences, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of precision therapeutics and companion diagnostics products for the treatment and diagnosis of inflammatory bowel diseases (IBD). Its products include PRA023, a Phase I clinical trial IgG1 humanized monoclonal antibody (mAb); PR600, an anti- tumor necrosis factor mAb for IBD; PR300, a G-protein coupled receptor modulator small molecule for IBD; PR1800, anti-chemokine mAb for IBD; and PR2100, an anti-inflammatory cytokine mAb for IBD.

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