First Republic Investment Management Inc. acquired a new stake in Prometheus Biosciences, Inc. (NASDAQ:RXDX – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,605 shares of the biopharmaceutical company's stock, valued at approximately $331,000.
A number of other hedge funds have also recently added to or reduced their stakes in RXDX. Swiss National Bank grew its stake in Prometheus Biosciences by 7.4% in the first quarter. Swiss National Bank now owns 27,600 shares of the biopharmaceutical company's stock valued at $1,042,000 after acquiring an additional 1,900 shares during the period. JPMorgan Chase & Co. grew its stake in Prometheus Biosciences by 454.6% in the first quarter. JPMorgan Chase & Co. now owns 82,927 shares of the biopharmaceutical company's stock valued at $3,131,000 after acquiring an additional 67,975 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Prometheus Biosciences by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 128,626 shares of the biopharmaceutical company's stock valued at $4,857,000 after buying an additional 11,844 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Prometheus Biosciences by 55.4% during the first quarter. MetLife Investment Management LLC now owns 17,464 shares of the biopharmaceutical company's stock valued at $659,000 after buying an additional 6,227 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Prometheus Biosciences by 3.4% during the first quarter. Rhumbline Advisers now owns 37,177 shares of the biopharmaceutical company's stock valued at $1,404,000 after buying an additional 1,226 shares during the last quarter. Institutional investors and hedge funds own 78.31% of the company's stock.
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Shares of RXDX opened at $106.02 on Thursday. The firm has a market cap of $4.45 billion, a PE ratio of -31.65 and a beta of -0.52. The stock's fifty day moving average price is $105.41 and its two-hundred day moving average price is $69.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.19 and a quick ratio of 11.19. Prometheus Biosciences, Inc. has a 1 year low of $21.50 and a 1 year high of $122.75.
Prometheus Biosciences (NASDAQ:RXDX – Get Rating) last issued its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.01). The firm had revenue of $0.97 million during the quarter, compared to the consensus estimate of $0.77 million. Prometheus Biosciences had a negative net margin of 1,847.71% and a negative return on equity of 61.37%. On average, equities research analysts forecast that Prometheus Biosciences, Inc. will post -3.43 EPS for the current year.Insider Buying and Selling at Prometheus Biosciences
In other Prometheus Biosciences news, CFO Keith W. Marshall sold 5,000 shares of the business's stock in a transaction on Tuesday, January 17th. The stock was 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 in the company, valued at $1,167,509. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Keith W. Marshall sold 5,000 shares of the business's stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $119.00, for a total transaction of $595,000.00. Following the sale, the chief financial officer now directly owns 9,811 shares in the company, valued at approximately $1,167,509. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mark C. Mckenna sold 25,000 shares of the business's stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $118.99, for a total value of $2,974,750.00. Following the sale, the chief executive officer now owns 55,144 shares in the company, valued at $6,561,584.56. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.
Analyst Ratings Changes
RXDX has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on Prometheus Biosciences from $117.00 to $144.00 and gave the company a "buy" rating in a research report on Tuesday, January 31st. Stifel Nicolaus lifted their target price on Prometheus Biosciences from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, November 1st. Royal Bank of Canada lifted their target price on Prometheus Biosciences from $66.00 to $111.00 in a research report on Wednesday, December 7th. BTIG Research lifted their price target on Prometheus Biosciences from $74.00 to $181.00 and gave the stock a "buy" rating in a report on Thursday, December 8th. Finally, Piper Sandler lifted their price target on Prometheus Biosciences from $67.00 to $114.00 in a report on Wednesday, December 7th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Prometheus Biosciences currently has a consensus rating of "Buy" and a consensus price target of $117.10.
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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