Principia Biopharma Inc (NASDAQ:PRNB) Short Interest Up 5.1% in November

Principia Biopharma Inc (NASDAQ:PRNB) saw a significant growth in short interest in November. As of November 29th, there was short interest totalling 508,000 shares, a growth of 5.1% from the November 14th total of 483,500 shares. Approximately 2.3% of the company’s stock are short sold. Based on an average daily volume of 261,800 shares, the short-interest ratio is currently 1.9 days.

Shares of NASDAQ:PRNB traded up $0.18 during midday trading on Friday, hitting $49.73. 277,873 shares of the stock were exchanged, compared to its average volume of 286,989. Principia Biopharma has a 52-week low of $22.03 and a 52-week high of $50.42. The business’s fifty day simple moving average is $34.82 and its two-hundred day simple moving average is $34.64. The company has a market capitalization of $1.62 billion, a PE ratio of 87.25 and a beta of 1.08.

Principia Biopharma (NASDAQ:PRNB) last posted its earnings results on Tuesday, November 5th. The company reported ($0.93) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.85) by ($0.08). Principia Biopharma had a negative return on equity of 11.95% and a net margin of 11.88%. On average, analysts anticipate that Principia Biopharma will post -2 EPS for the current fiscal year.

In related news, insider Roy C. Hardiman sold 5,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $49.41, for a total transaction of $247,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Simeon George acquired 357,142 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were purchased at an average price of $31.12 per share, with a total value of $11,114,259.04. Insiders bought 491,242 shares of company stock valued at $15,517,679 in the last 90 days. Corporate insiders own 28.98% of the company’s stock.

A number of institutional investors have recently bought and sold shares of PRNB. Bank of Montreal Can acquired a new position in Principia Biopharma during the second quarter worth $37,000. Public Employees Retirement System of Ohio acquired a new position in Principia Biopharma during the second quarter worth $59,000. Tower Research Capital LLC TRC increased its position in Principia Biopharma by 1,786.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,132 shares of the company’s stock worth $71,000 after buying an additional 2,019 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Principia Biopharma during the second quarter worth $121,000. Finally, Metropolitan Life Insurance Co NY acquired a new position in Principia Biopharma during the third quarter worth $136,000. 61.55% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on PRNB shares. Stifel Nicolaus reiterated a “buy” rating on shares of Principia Biopharma in a report on Monday, December 9th. Zacks Investment Research lowered Principia Biopharma from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. ValuEngine lowered Principia Biopharma from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $57.00 price objective on shares of Principia Biopharma in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $46.25.

About Principia Biopharma

Principia Biopharma Inc, a late-stage biopharmaceutical company, focuses on developing novel therapies for immunology and oncology. The company is developing PRN1008, an inhibitor that is in Phase III clinical trial for the treatment of pemphigus, a chronic skin disease, as well as in Phase II clinical trial to treat immune thrombocytopenic purpura.

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