Perhaps timely catching Prometheus Biosciences Inc. (RXDX) would be a good idea

Prometheus Biosciences Inc. (NASDAQ: RXDX) stock fell -6.53% on Wednesday to $43.11 against a previous-day closing price of $46.12. With 0.34 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.56 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $47.09 whereas the lowest price it dropped to was $42.98. The 52-week range on RXDX shows that it touched its highest point at $63.13 and its lowest point at $21.50 during that stretch. It currently has a 1-year price target of $64.18.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RXDX was down-trending over the past week, with a drop of -8.78%, but this was down by -16.52% over a month. Three-month performance dropped to -14.63% while six-month performance rose 53.69%. The stock gained 54.13% in the past year, while it has gained 9.03% so far this year. A look at the trailing 12-month EPS for RXDX yields -3.35 with Next year EPS estimates of -3.65. For the next quarter, that number is -0.92. This implies an EPS growth rate of -244.40% for this year and -4.30% for next year.

Float and Shares Shorts:

At present, 41.22 million RXDX shares are outstanding with a float of 32.92 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.4 million, which was 10.76% higher than short shares on Sep 14, 2022. In addition to Mr. Mark C. McKenna as the firm’s Pres, CEO & Chairman, Dr. Keith W. Marshall M.B.A., MBA, Ph.D. serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 77.15% of RXDX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 44.19% of RXDX, in contrast to 30.38% held by mutual funds. Shares owned by individuals account for 12.02%. As the largest shareholder in RXDX with 7.61% of the stake, RTW Investments LP holds 3,189,605 shares worth 3,189,605. A second-largest stockholder of RXDX, Eventide Asset Management LLC, holds 2,669,255 shares, controlling over 6.36% of the firm’s shares. Point72 Asset Management LP is the third largest shareholder in RXDX, holding 2,440,920 shares or 5.82% stake. With a 7.71% stake in RXDX, the Eventide Healthcare & Life Scienc is the largest stakeholder. A total of 3,232,700 shares are owned by the mutual fund manager. The SPDR S&P Biotech ETF, which owns about 2.74% of RXDX stock, is the second-largest Mutual Fund holder. It holds 1,121,000 shares valued at 58.87 million. Vanguard Total Stock Market Index holds 2.21% of the stake in RXDX, owning 926,769 shares worth 48.67 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RXDX since 11 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With RXDX analysts setting a high price target of $75.00 and a low target of $55.00, the average target price over the next 12 months is $64.18. Based on these targets, RXDX could surge 73.97% to reach the target high and rise by 27.58% to reach the target low. Reaching the average price target will result in a growth of 48.87% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. RXDX will report FY 2022 earnings on 03/08/2023. Analysts have provided yearly estimates in a range of -$3.08 being high and -$3.62 being low. For RXDX, this leads to a yearly average estimate of -$3.43. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Prometheus Biosciences Inc. surprised analysts by -$0.02 when it reported -$0.90 EPS against a consensus estimate of -$0.88. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.77 and the low estimate is -$1.02. The average estimate for the next quarter is thus -$0.91.

Summary of Insider Activity:

Insiders traded RXDX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 15,400 while 142,376 shares were sold.

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