ProNAi Therapeutics Inc. (DNAI) Upgraded to “Buy” 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 report issued on Tuesday. The brokerage presently has a $2.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 10.50% from the stock’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% during midday trading on Tuesday, hitting $1.81. 675,033 shares of the stock traded hands. The stock’s market cap is $54.89 million. The company’s 50 day moving average price is $1.86 and its 200-day moving average price is $3.38. ProNAi Therapeutics has a 12-month low of $1.77 and a 12-month high of $20.85.
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ProNAi Therapeutics (NASDAQ:DNAI) last posted its earnings results on Friday, August 12th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.38) by $0.05. On average, equities research analysts expect that ProNAi Therapeutics will post ($1.32) EPS for the current year.
Several institutional investors have recently bought and sold shares of the stock. Bridgeway Capital Management Inc. purchased a new position in ProNAi Therapeutics during the second quarter valued at $109,000. Ancora Advisors LLC purchased a new position in ProNAi Therapeutics during the second quarter valued at $132,000. Panagora Asset Management Inc. purchased a new position in ProNAi Therapeutics during the second quarter valued at $168,000. Minerva Advisors LLC purchased a new position in ProNAi Therapeutics during the second quarter valued at $227,000. Finally, Renaissance Technologies LLC raised its position in ProNAi Therapeutics by 16.2% in the first quarter. Renaissance Technologies LLC now owns 45,300 shares of the company’s stock valued at $305,000 after buying an additional 6,300 shares during the period. 35.25% of the stock is owned by hedge funds and other institutional investors.
About ProNAi Therapeutics
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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