RA Capital Management LLC Purchases New Position in Proteon Therapeutics, Inc. (PRTO)
RA Capital Management LLC purchased a new stake in Proteon Therapeutics, Inc. (NASDAQ:PRTO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,337,462 shares of the biopharmaceutical company’s stock, valued at approximately $2,040,000. Proteon Therapeutics comprises approximately 0.2% of RA Capital Management LLC’s portfolio, making the stock its 22nd largest holding. RA Capital Management LLC owned 7.59% of Proteon Therapeutics as of its most recent filing with the Securities and Exchange Commission.
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Shares of Proteon Therapeutics, Inc. (PRTO) traded down 5.66% on Friday, hitting $2.50. The stock had a trading volume of 163,150 shares. Proteon Therapeutics, Inc. has a 1-year low of $1.10 and a 1-year high of $11.45. The firm has a 50-day moving average of $1.60 and a 200 day moving average of $1.46. The company’s market capitalization is $44.05 million.
Proteon Therapeutics (NASDAQ:PRTO) last posted its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.11. On average, equities analysts anticipate that Proteon Therapeutics, Inc. will post ($1.52) earnings per share for the current fiscal year.
A number of brokerages have recently commented on PRTO. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Proteon Therapeutics in a research note on Wednesday, August 16th. HC Wainwright set a $2.00 price target on Proteon Therapeutics and gave the company a “hold” rating in a research note on Wednesday, August 9th. Cowen and Company reiterated a “hold” rating on shares of Proteon Therapeutics in a research note on Tuesday, August 8th. Finally, Zacks Investment Research cut Proteon Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $9.00.
Proteon Therapeutics Profile
Proteon Therapeutics, Inc is a late-stage biopharmaceutical company, which focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. The Company is involved in research and development activities. The Company’s product candidate, product candidate, vonapanitase, formerly PRT-201, is a recombinant human elastase that it is developing to manage vascular access failure in patients with chronic kidney disease undergoing or planning for hemodialysis, a lifesaving treatment that cannot be conducted without a functioning vascular access.
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