Zacks Investment Research upgraded shares of ProNAi Therapeutics Inc. (NASDAQ:DNAI) from a hold rating to a buy rating in a report issued on Tuesday. The firm 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) traded up 3.87% during mid-day trading on Tuesday, reaching $1.88. 187,183 shares of the company were exchanged. ProNAi Therapeutics has a 12 month low of $1.77 and a 12 month high of $20.85. The company’s 50-day moving average is $1.86 and its 200 day moving average is $3.37. The firm’s market capitalization is $57.01 million.
ProNAi Therapeutics (NASDAQ:DNAI) last posted its quarterly earnings data on Friday, August 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by $0.05. Analysts predict that ProNAi Therapeutics will post ($1.32) EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in ProNAi Therapeutics by 16.2% in the first quarter. Renaissance Technologies LLC now owns 45,300 shares of the company’s stock worth $305,000 after buying an additional 6,300 shares in the last quarter. Bridgeway Capital Management Inc. purchased a new stake in ProNAi Therapeutics during the second quarter worth about $109,000. Ancora Advisors LLC purchased a new stake in ProNAi Therapeutics during the second quarter worth about $132,000. Panagora Asset Management Inc. purchased a new stake in ProNAi Therapeutics during the second quarter worth about $168,000. Finally, Minerva Advisors LLC purchased a new stake in ProNAi Therapeutics during the second quarter worth 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.