Zacks Investment Research upgraded shares of ProNAi Therapeutics Inc. (NASDAQ:DNAI) from a hold rating to a buy rating in a report issued on Tuesday. Zacks Investment Research currently has $2.00 price target on the stock.

According to Zacks, “ProNAi Therapeutics, Inc. is an oncology company. The Company develops therapies on its deoxyribonucleic acid interference technology platform to treat cancer and hematological diseases. Its product candidate consists of PNT2258 which treat cancers that overexpress BCL2, an oncogene known to be dysregulated in many types of cancer. ProNAi Therapeutics, Inc. is headquartered in Vancouver, Canada. “

Shares of ProNAi Therapeutics (NASDAQ:DNAI) traded up 3.87% during mid-day trading on Tuesday, hitting $1.88. The company had a trading volume of 187,183 shares. The firm has a 50-day moving average price of $1.86 and a 200-day moving average price of $3.37. The firm’s market capitalization is $57.01 million. ProNAi Therapeutics has a 52 week low of $1.77 and a 52 week high of $20.85.

ProNAi Therapeutics (NASDAQ:DNAI) last announced its quarterly earnings data on Friday, August 12th. The company reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.38) by $0.05. Equities analysts forecast that ProNAi Therapeutics will post ($1.32) earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the company. Deerfield Management Co. boosted its stake in shares of ProNAi Therapeutics by 67.6% in the first quarter. Deerfield Management Co. now owns 3,001,302 shares of the company’s stock worth $20,229,000 after buying an additional 1,210,047 shares in the last quarter. Vivo Capital LLC acquired a new stake in shares of ProNAi Therapeutics during the first quarter worth $16,434,000. Renaissance Technologies LLC boosted its stake in shares of ProNAi Therapeutics by 16.2% in the first quarter. Renaissance Technologies LLC now owns 45,300 shares of the company’s stock worth $305,000 after buying an additional 6,300 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of ProNAi Therapeutics by 4.6% in the second quarter. PNC Financial Services Group Inc. now owns 601,092 shares of the company’s stock worth $1,197,000 after buying an additional 26,226 shares in the last quarter. Finally, Greenleaf Trust boosted its stake in shares of ProNAi Therapeutics by 7.8% in the second quarter. Greenleaf Trust now owns 207,450 shares of the company’s stock worth $413,000 after buying an additional 14,956 shares in the last quarter. Hedge funds and other institutional investors own 35.25% of the company’s stock.

About ProNAi Therapeutics

ProNAi Therapeutics, Inc is a clinical-stage oncology company. The Company is engaged in business of researching, developing and commercializing therapies for the treatment of patients with cancer and hematological diseases based on its deoxyribonucleic acid interference (DNAi) technology platform. Its lead product candidate includes PNT2258, which targets cancers that overexpress B-cell lymphoma 2 (BCL2), an oncogene known to be dysregulated in various types of cancer.

5 Day Chart for NASDAQ:DNAI

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