Proteon Therapeutics Inc (NASDAQ:PRTO) Short Interest Down 16.7% in June

Proteon Therapeutics Inc (NASDAQ:PRTO) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totalling 1,145,900 shares, a decline of 16.7% from the May 30th total of 1,375,200 shares. Approximately 14.6% of the company’s stock are sold short. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is currently 0.9 days.

A hedge fund recently bought a new stake in Proteon Therapeutics stock. Wedbush Securities Inc. bought a new position in shares of Proteon Therapeutics Inc (NASDAQ:PRTO) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 59,000 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. Wedbush Securities Inc. owned about 0.30% of Proteon Therapeutics at the end of the most recent quarter. 22.86% of the stock is currently owned by institutional investors.

PRTO has been the topic of a number of research reports. Robert W. Baird boosted their price objective on shares of Total System Services from $98.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, March 29th. Cowen reissued a “buy” rating and issued a $149.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, May 8th. Maxim Group set a $9.00 price objective on shares of Brainstorm Cell Therapeutics and gave the stock a “buy” rating in a research report on Thursday, March 28th. Zacks Investment Research lowered shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, JMP Securities lowered shares of Proteon Therapeutics to a “market perform” rating in a research report on Thursday, March 28th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $2.63.

Shares of PRTO stock traded down $0.01 during trading on Friday, reaching $0.45. The company’s stock had a trading volume of 704,364 shares, compared to its average volume of 1,029,853. The firm’s fifty day moving average is $0.42. The stock has a market capitalization of $8.52 million, a P/E ratio of -0.39 and a beta of 0.43. Proteon Therapeutics has a one year low of $0.35 and a one year high of $3.94.

Proteon Therapeutics (NASDAQ:PRTO) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.11). Analysts predict that Proteon Therapeutics will post -0.59 earnings per share for the current fiscal year.

About Proteon Therapeutics

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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