Prometheus Biosciences Inc. [RXDX] is -23.41% lower this YTD. Is it still time to buy?

Prometheus Biosciences Inc. [NASDAQ: RXDX] loss -5.42% or -1.11 points to close at $19.37 with a heavy trading volume of 1249305 shares. The company report on May 17, 2021 that Fred Hassan, Former CEO of Schering-Plough and Former Chairman of Bausch & Lomb, Joins Prometheus Biosciences Board.

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Prometheus Biosciences, Inc. (Nasdaq: RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), announced the appointment of Fred Hassan to its Board of Directors.

“We’re honored to have a highly accomplished industry titan like Fred join our Board at this pivotal time,” said Mark McKenna, President and CEO of Prometheus. “Fred’s wealth of experience over the last thirty years as an investor, board member, and executive of global pharmaceutical corporations, will strengthen our board as we advance our pipeline of precision therapies for immune-mediated diseases. On behalf of the Board, I welcome Fred and we are eager to benefit from his insights and acumen.”.

If we look at the average trading volume of 233.31K shares, RXDX reached to a volume of 1249305 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Prometheus Biosciences Inc. [RXDX]:

Credit Suisse have made an estimate for Prometheus Biosciences Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 26, 2021. While these analysts kept the previous recommendation, SVB Leerink raised their target price to Outperform. The new note on the price target was released on April 06, 2021, representing the official price target for Prometheus Biosciences Inc. stock. Previously, the target price had yet another raise to $25, while Stifel analysts kept a Buy rating on RXDX stock.

The Average True Range (ATR) for Prometheus Biosciences Inc. is set at 2.65, with the Price to Sales ratio for RXDX stock in the period of the last 12 months amounting to 610.80.

Trading performance analysis for RXDX stock

Prometheus Biosciences Inc. [RXDX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.82.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RXDX stock in for the last two-week period is set at 42.64, with the RSI for the last a single of trading hit 43.79, and the three-weeks RSI is set at 42.46 for Prometheus Biosciences Inc. [RXDX], while it was recorded at 18.25 for the last single week of trading.

Prometheus Biosciences Inc. [RXDX]: A deeper dive into fundamental analysis

An analysis of insider ownership at Prometheus Biosciences Inc. [RXDX]

There are presently around $462 million, or 43.48% of RXDX stock, in the hands of institutional investors. The top three institutional holders of RXDX stocks are: EVENTIDE ASSET MANAGEMENT, LLC with ownership of 3,714,032, which is approximately New of the company’s market cap and around 34.95% of the total institutional ownership; PERCEPTIVE ADVISORS LLC, holding 3,314,032 shares of the stock with an approximate value of $64.19 million in RXDX stocks shares; and RTW INVESTMENTS, LP, currently with $63.22 million in RXDX stock with ownership of nearly New of the company’s market capitalization.

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40 institutional holders increased their position in Prometheus Biosciences Inc. [NASDAQ:RXDX] by around 23,853,157 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 23,853,157 shares, according to the latest SEC report filing. RXDX stock had 40 new institutional investments in for a total of 23,853,157 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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