ProNAi Therapeutics Inc. (DNAI) Stock Rating Upgraded by Zacks Investment Research
ProNAi Therapeutics Inc. (NASDAQ:DNAI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $2.00 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 10.50% from the company’s current price.
According to Zacks, “ProNAi Therapeutics, Inc. is an oncology company. The Company develops therapies on its deoxyribonucleic acid interference technology platform to treat cancer and hematological diseases. Its product candidate consists of PNT2258 which treat cancers that overexpress BCL2, an oncogene known to be dysregulated in many types of cancer. ProNAi Therapeutics, Inc. is headquartered in Vancouver, Canada. “
Shares of ProNAi Therapeutics (NASDAQ:DNAI) traded down 2.69% on Tuesday, reaching $1.81. 675,033 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $1.86 and its 200-day moving average price is $3.38. ProNAi Therapeutics has a 52 week low of $1.77 and a 52 week high of $20.85. The stock’s market capitalization is $54.89 million.
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ProNAi Therapeutics (NASDAQ:DNAI) last issued its earnings results on Friday, August 12th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.38) by $0.05. Equities analysts predict that ProNAi Therapeutics will post ($1.32) EPS for the current year.
Several large investors have recently modified their holdings of the company. Vivo Capital LLC purchased a new position in ProNAi Therapeutics during the first quarter valued at about $16,434,000. Deerfield Management Co. increased its position in ProNAi Therapeutics by 67.6% in the first quarter. Deerfield Management Co. now owns 3,001,302 shares of the company’s stock valued at $20,229,000 after buying an additional 1,210,047 shares during the period. Pictet Asset Management Ltd. increased its position in ProNAi Therapeutics by 957.9% in the second quarter. Pictet Asset Management Ltd. now owns 684,433 shares of the company’s stock valued at $4,298,000 after buying an additional 619,733 shares during the period. Sabby Management LLC purchased a new position in ProNAi Therapeutics during the second quarter valued at about $1,174,000. Finally, Minerva Advisors LLC purchased a new position in ProNAi Therapeutics during the second quarter valued at about $227,000. Institutional investors own 35.25% of the company’s stock.
ProNAi Therapeutics Company Profile
ProNAi Therapeutics, Inc is a clinical-stage oncology company. The Company is engaged in business of researching, developing and commercializing therapies for the treatment of patients with cancer and hematological diseases based on its deoxyribonucleic acid interference (DNAi) technology platform. Its lead product candidate includes PNT2258, which targets cancers that overexpress B-cell lymphoma 2 (BCL2), an oncogene known to be dysregulated in various types of cancer.
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