Fmr LLC Raises Position in Principia Biopharma Inc (NASDAQ:PRNB)

FMR LLC grew its position in Principia Biopharma Inc (NASDAQ:PRNB) by 213.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,579,788 shares of the company’s stock after buying an additional 2,437,717 shares during the quarter. FMR LLC owned 15.00% of Principia Biopharma worth $121,713,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PRNB. BNP Paribas Arbitrage SA acquired a new stake in Principia Biopharma during the first quarter worth about $40,000. Citigroup Inc. purchased a new position in Principia Biopharma during the fourth quarter worth approximately $45,000. American International Group Inc. purchased a new position in Principia Biopharma during the fourth quarter worth approximately $103,000. Strs Ohio boosted its position in Principia Biopharma by 220.0% during the first quarter. Strs Ohio now owns 4,800 shares of the company’s stock worth $163,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in Principia Biopharma during the first quarter worth approximately $228,000. Institutional investors and hedge funds own 82.20% of the company’s stock.

In other news, major shareholder Orbimed Advisors Llc sold 1,000,000 shares of Principia Biopharma stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $30.25, for a total value of $30,250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 28.98% of the company’s stock.

Shares of NASDAQ:PRNB traded down $0.73 during midday trading on Thursday, hitting $40.10. The company had a trading volume of 220,900 shares, compared to its average volume of 114,684. Principia Biopharma Inc has a twelve month low of $22.00 and a twelve month high of $42.16. The stock has a market capitalization of $982.26 million and a PE ratio of 70.35. The firm’s 50-day moving average is $34.85.

Principia Biopharma (NASDAQ:PRNB) last posted its earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.05. The business had revenue of $5.16 million for the quarter, compared to analyst estimates of $8.00 million. On average, equities research analysts anticipate that Principia Biopharma Inc will post -2.66 earnings per share for the current year.

A number of brokerages have issued reports on PRNB. Stifel Nicolaus upgraded QUALCOMM from a “hold” rating to a “buy” rating and increased their price target for the stock from $57.00 to $100.00 in a research report on Tuesday, April 16th. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. HC Wainwright decreased their target price on Innovate Biopharmaceuticals from $35.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, July 1st. Finally, Leerink Swann set a $42.00 target price on Principia Biopharma and gave the company a “buy” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $46.00.

Principia Biopharma Company Profile

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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Institutional Ownership by Quarter for Principia Biopharma (NASDAQ:PRNB)

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