Alliancebernstein L.P. Cuts Holdings in Principia Biopharma Inc (NASDAQ:PRNB)

Alliancebernstein L.P. trimmed its holdings in shares of Principia Biopharma Inc (NASDAQ:PRNB) by 75.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,900 shares of the company’s stock after selling 68,657 shares during the quarter. Alliancebernstein L.P. owned approximately 0.07% of Principia Biopharma worth $1,300,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Grantham Mayo Van Otterloo & Co. LLC purchased a new position in Principia Biopharma during the first quarter valued at approximately $2,055,000. EAM Global Investors LLC grew its holdings in Principia Biopharma by 14.4% in the first quarter. EAM Global Investors LLC now owns 43,369 shares of the company’s stock worth $2,575,000 after purchasing an additional 5,465 shares during the last quarter. EAM Investors LLC grew its holdings in Principia Biopharma by 6.2% in the first quarter. EAM Investors LLC now owns 61,831 shares of the company’s stock worth $3,672,000 after purchasing an additional 3,584 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in Principia Biopharma by 852.9% in the first quarter. BNP Paribas Arbitrage SA now owns 20,374 shares of the company’s stock worth $1,210,000 after purchasing an additional 18,236 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Principia Biopharma by 12,929.9% in the first quarter. Federated Hermes Inc. now owns 15,245 shares of the company’s stock worth $905,000 after purchasing an additional 15,128 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

PRNB has been the topic of several analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $76.00 price target on shares of Principia Biopharma in a report on Thursday, April 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $77.00 price target on shares of Principia Biopharma in a report on Tuesday, June 23rd. BidaskClub lowered shares of Principia Biopharma from a “buy” rating to a “hold” rating in a report on Wednesday, June 10th. Zacks Investment Research raised shares of Principia Biopharma from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Friday, May 8th. Finally, ValuEngine raised shares of Principia Biopharma from a “sell” rating to a “hold” rating in a report on Friday, March 6th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $76.67.

In related news, CFO Christopher Y. Chai sold 7,500 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $65.10, for a total transaction of $488,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Martin Babler sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $61.86, for a total transaction of $927,900.00. The disclosure for this sale can be found here. Insiders have sold 46,504 shares of company stock valued at $2,867,337 over the last 90 days. 16.01% of the stock is currently owned by insiders.

Shares of PRNB opened at $56.28 on Wednesday. The firm has a market capitalization of $1.87 billion, a PE ratio of -23.07 and a beta of 0.63. Principia Biopharma Inc has a 1-year low of $25.35 and a 1-year high of $75.65. The company’s fifty day moving average price is $62.16 and its 200-day moving average price is $59.52.

Principia Biopharma (NASDAQ:PRNB) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). On average, equities research analysts forecast that Principia Biopharma Inc will post -3.48 EPS for the current fiscal year.

Principia Biopharma 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.

Read More: Quiet Period

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

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