Proteon Therapeutics (NASDAQ:PRTO) Stock Price Passes Above 50 Day Moving Average of $0.33

Proteon Therapeutics Inc (NASDAQ:PRTO) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $0.33 and traded as high as $0.36. Proteon Therapeutics shares last traded at $0.35, with a volume of 3,188 shares.

Separately, Zacks Investment Research downgraded Proteon Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $2.63.

The company has a market cap of $7.15 million, a P/E ratio of -0.31 and a beta of 0.46. The firm has a 50 day moving average price of $0.33 and a 200-day moving average price of $0.87.

Proteon Therapeutics (NASDAQ:PRTO) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.21). Equities analysts forecast that Proteon Therapeutics Inc will post -0.59 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Proteon Therapeutics stock. Wedbush Securities Inc. lifted its stake in shares of Proteon Therapeutics Inc (NASDAQ:PRTO) by 76.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,000 shares of the biopharmaceutical company’s stock after acquiring an additional 45,000 shares during the quarter. Wedbush Securities Inc. owned about 0.53% of Proteon Therapeutics worth $43,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 24.00% of the company’s stock.

Proteon Therapeutics Company Profile (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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