Proteon Therapeutics (NASDAQ:PRTO) Trading Up 6.9%

Shares of Proteon Therapeutics Inc (NASDAQ:PRTO) were up 6.9% during mid-day trading on Thursday . The stock traded as high as $0.31 and last traded at $0.31, approximately 120,300 shares traded hands during trading. A decline of 84% from the average daily volume of 747,876 shares. The stock had previously closed at $0.29.

Separately, Zacks Investment Research raised shares of Proteon Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Proteon Therapeutics presently has a consensus rating of “Hold” and an average price target of $2.63.

The firm has a market cap of $5.64 million, a P/E ratio of -0.27 and a beta of 0.43. The business’s 50-day moving average is $0.27 and its two-hundred day moving average is $0.35.

Proteon Therapeutics (NASDAQ:PRTO) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Sell-side analysts expect that Proteon Therapeutics Inc will post -0.78 EPS for the current fiscal year.

A hedge fund recently raised its stake in Proteon Therapeutics stock. Wedbush Securities Inc. boosted its holdings in Proteon Therapeutics Inc (NASDAQ:PRTO) by 76.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,000 shares of the biopharmaceutical company’s stock after purchasing an additional 45,000 shares during the period. Wedbush Securities Inc. owned about 0.53% of Proteon Therapeutics worth $43,000 as of its most recent filing with the Securities and Exchange Commission. 24.38% of the stock is owned by institutional investors.

About Proteon Therapeutics (NASDAQ:PRTO)

Proteon Therapeutics, Inc, a late-stage biopharmaceutical company, focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. Its lead product candidate is vonapanitase, an investigational drug intended to enhance hemodialysis vascular access outcomes.

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