Vanguard Group Inc. Raises Stock Position in Principia Biopharma Inc (NASDAQ:PRNB)

Vanguard Group Inc. raised its position in shares of Principia Biopharma Inc (NASDAQ:PRNB) by 98.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 574,862 shares of the company’s stock after acquiring an additional 284,762 shares during the quarter. Vanguard Group Inc. owned about 2.41% of Principia Biopharma worth $19,079,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. TD Asset Management Inc. grew its position in Principia Biopharma by 2.6% in the 2nd quarter. TD Asset Management Inc. now owns 27,918 shares of the company’s stock worth $927,000 after purchasing an additional 700 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Principia Biopharma during the 2nd quarter valued at approximately $37,000. Public Employees Retirement System of Ohio bought a new position in shares of Principia Biopharma during the 2nd quarter valued at approximately $59,000. Tower Research Capital LLC TRC grew its position in shares of Principia Biopharma by 1,786.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,132 shares of the company’s stock valued at $71,000 after acquiring an additional 2,019 shares during the period. Finally, Marshall Wace North America L.P. grew its position in shares of Principia Biopharma by 14.7% during the 1st quarter. Marshall Wace North America L.P. now owns 17,717 shares of the company’s stock valued at $603,000 after acquiring an additional 2,266 shares during the period. 83.76% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:PRNB traded down $0.29 during trading hours on Friday, reaching $31.61. The company’s stock had a trading volume of 147,100 shares, compared to its average volume of 143,279. The firm has a market capitalization of $838.86 million, a price-to-earnings ratio of 55.46 and a beta of 1.12. Principia Biopharma Inc has a 1 year low of $22.03 and a 1 year high of $42.34. The firm has a 50-day simple moving average of $31.04 and a 200-day simple moving average of $33.78.

Principia Biopharma (NASDAQ:PRNB) last announced its earnings results on Tuesday, November 5th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.08). Principia Biopharma had a net margin of 11.88% and a negative return on equity of 11.71%. Research analysts expect that Principia Biopharma Inc will post -1.95 EPS for the current year.

In related news, Director Simeon George bought 357,142 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average price of $31.12 per share, for a total transaction of $11,114,259.04. Also, major shareholder Leaf Ventures Ii L.P. New sold 300,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $35.00, for a total transaction of $10,500,000.00. The disclosure for this sale can be found here. Insiders have purchased 436,242 shares of company stock valued at $13,870,979 over the last 90 days. 28.98% of the stock is currently owned by company insiders.

A number of research firms have recently weighed in on PRNB. HC Wainwright set a $57.00 target price on shares of Principia Biopharma and gave the company a “buy” rating in a research report on Monday, October 21st. ValuEngine downgraded shares of Principia Biopharma from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $51.00 price objective (up from $45.00) on shares of Principia Biopharma in a report on Thursday, October 10th. Finally, Zacks Investment Research cut shares of Principia Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Principia Biopharma currently has a consensus rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for Principia Biopharma (NASDAQ:PRNB)

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