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

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Proteon Therapeutics Inc (NASDAQ:PRTO)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty 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 traded.

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

The business has a 50-day moving average price of $0.33 and a 200-day moving average price of $0.87. The company has a market capitalization of $7.15 million, a price-to-earnings ratio of -0.31 and a beta of 0.46.

Proteon Therapeutics (NASDAQ:PRTO) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.21). Equities research analysts predict that Proteon Therapeutics Inc will post -0.59 EPS 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% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,000 shares of the biopharmaceutical company’s stock after purchasing an additional 45,000 shares during the period. Wedbush Securities Inc. owned approximately 0.53% of Proteon Therapeutics worth $43,000 at the end of the most recent quarter. 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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