Zacks Investment Research upgraded shares of ProNAi Therapeutics Inc. (NASDAQ:DNAI) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. Zacks Investment Research currently has $2.00 target price on the stock.
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) opened at 1.80 on Tuesday. The stock has a 50 day moving average of $1.85 and a 200 day moving average of $3.31. ProNAi Therapeutics has a 52-week low of $1.77 and a 52-week high of $20.85. The stock’s market capitalization is $54.59 million.
ProNAi Therapeutics (NASDAQ:DNAI) last released its quarterly earnings data on Friday, August 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by $0.05. Analysts forecast that ProNAi Therapeutics will post ($1.32) earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in DNAI. Renaissance Technologies LLC boosted its stake in shares of 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 in the last quarter. Vivo Capital LLC acquired a new stake in shares of ProNAi Therapeutics during the first quarter valued at $16,434,000. Deerfield Management Co. boosted its stake in shares of 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 in the last quarter. Greenleaf Trust boosted its stake in shares of ProNAi Therapeutics by 7.8% in the second quarter. Greenleaf Trust now owns 207,450 shares of the company’s stock valued at $413,000 after buying an additional 14,956 shares in the last quarter. Finally, Minerva Advisors LLC acquired a new stake in shares of ProNAi Therapeutics during the second quarter valued at $227,000. Hedge funds and other institutional investors own 35.25% of the company’s stock.
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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