Cubist Systematic Strategies LLC increased its stake in shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) by 1,825.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,126 shares of the biotechnology company’s stock after buying an additional 9,600 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Progenics Pharmaceuticals were worth $62,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Intercontinental Wealth Advisors LLC bought a new position in Progenics Pharmaceuticals during the second quarter valued at about $35,000. Pinebridge Investments L.P. bought a new position in Progenics Pharmaceuticals during the second quarter valued at about $40,000. Crossmark Global Holdings Inc. bought a new position in Progenics Pharmaceuticals during the second quarter valued at about $62,000. Bank of Montreal Can boosted its stake in Progenics Pharmaceuticals by 437.9% during the second quarter. Bank of Montreal Can now owns 12,286 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 10,002 shares in the last quarter. Finally, Creative Planning boosted its stake in Progenics Pharmaceuticals by 11.2% during the second quarter. Creative Planning now owns 19,900 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.
In related news, insider Velan Capital, L.P. bought 277,424 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $4.39 per share, for a total transaction of $1,217,891.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lte Partners, Llc bought 43,520 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were bought at an average price of $4.62 per share, for a total transaction of $201,062.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 677,306 shares of company stock worth $2,968,406. Corporate insiders own 4.26% of the company’s stock.
PGNX has been the subject of several research reports. BidaskClub raised Progenics Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research cut Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. BTIG Research set a $14.00 target price on Progenics Pharmaceuticals and gave the company a “buy” rating in a report on Monday, August 12th. Brookline Capital Management started coverage on Progenics Pharmaceuticals in a report on Monday, July 29th. They set a “buy” rating and a $10.00 target price for the company. Finally, ValuEngine downgraded Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $8.94.
Progenics Pharmaceuticals stock traded up $0.01 during mid-day trading on Friday, hitting $6.03. The company’s stock had a trading volume of 1,126,400 shares, compared to its average volume of 1,104,456. The company has a market cap of $517.13 million, a PE ratio of -9.57 and a beta of 2.82. The firm’s 50 day moving average is $5.27 and its 200 day moving average is $4.96. Progenics Pharmaceuticals, Inc. has a 52-week low of $3.42 and a 52-week high of $6.31. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.25 and a quick ratio of 4.25.
Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The company had revenue of $5.61 million for the quarter, compared to analyst estimates of $7.05 million. Progenics Pharmaceuticals had a negative return on equity of 65.17% and a negative net margin of 339.86%. As a group, analysts forecast that Progenics Pharmaceuticals, Inc. will post -1 EPS for the current year.
Progenics Pharmaceuticals Profile
Progenics Pharmaceuticals, Inc, an oncology company, develops, manufactures, and commercializes pharmaceutical products and other technologies to target, diagnose, and treat cancer cancer in the United States and internationally. The company's product candidates include Azedra, a radiotherapeutic product candidate for the treatment of iobenguane scan positive, unresectable, and locally advanced or metastatic pheochromocytoma or paraganglioma for adult and pediatric patients; PyL, a clinical-stage fluorinated prostate specific membrane antigen (PSMA)-targeted PET/CT imaging agent for prostate cancer; and 1095, a PSMA-targeted Iodine-131 labeled small molecule, which is in Phase II clinical trial for the treatment of metastatic castration-resistant prostate cancer.
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