Proteon Therapeutics Inc (NASDAQ:PRTO) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 147,154 shares, a drop of 3.5% from the February 28th total of 152,509 shares. Based on an average trading volume of 81,366 shares, the short-interest ratio is currently 1.8 days.
A number of hedge funds have recently made changes to their positions in PRTO. Perceptive Advisors LLC acquired a new stake in shares of Proteon Therapeutics during the fourth quarter worth approximately $635,000. Pharmstandard International S.A. acquired a new stake in shares of Proteon Therapeutics during the fourth quarter worth approximately $2,214,000. Baker BROS. Advisors LP acquired a new stake in shares of Proteon Therapeutics during the third quarter worth approximately $2,786,000. Finally, Spark Investment Management LLC acquired a new stake in shares of Proteon Therapeutics during the third quarter worth approximately $107,000. Institutional investors and hedge funds own 49.28% of the company’s stock.
Proteon Therapeutics (NASDAQ:PRTO) traded down 3.03% on Friday, hitting $1.60. 13,452 shares of the company were exchanged. The stock has a 50 day moving average price of $1.66 and a 200 day moving average price of $4.60. Proteon Therapeutics has a one year low of $1.40 and a one year high of $11.63. The firm’s market cap is $26.56 million.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Proteon Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a report on Tuesday, March 21st. HC Wainwright cut Proteon Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the company from $18.00 to $3.00 in a report on Friday, March 17th. Maxim Group reaffirmed a “buy” rating and set a $6.00 price target on shares of Proteon Therapeutics in a report on Thursday, March 16th. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 price target on shares of Proteon Therapeutics in a report on Thursday, March 16th. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Proteon Therapeutics in a report on Tuesday, January 17th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $8.14.
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Proteon Therapeutics Company 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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