Jefferies Group Analysts Lower Earnings Estimates for ProNAi Therapeutics Inc. (DNAI)
ProNAi Therapeutics Inc. (NASDAQ:DNAI) – Stock analysts at Jefferies Group dropped their FY2016 EPS estimates for shares of ProNAi Therapeutics in a note issued to investors on Thursday. Jefferies Group analyst B. Abrahams now expects that the firm will post earnings of ($1.54) per share for the year, down from their previous estimate of ($1.36). Jefferies Group also issued estimates for ProNAi Therapeutics’ FY2017 earnings at ($1.26) EPS and FY2018 earnings at ($1.31) EPS.
Separately, Zacks Investment Research cut ProNAi Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, August 15th.
ProNAi Therapeutics (NASDAQ:DNAI) opened at 1.50 on Monday. ProNAi Therapeutics has a 12-month low of $1.39 and a 12-month high of $19.50. The firm’s 50-day moving average price is $1.69 and its 200-day moving average price is $2.60. The stock’s market cap is $45.49 million.
ProNAi Therapeutics (NASDAQ:DNAI) last posted its earnings results on Thursday, November 10th. The company reported ($0.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by $0.21.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vivo Capital LLC acquired a new position in shares of ProNAi Therapeutics during the first quarter worth about $16,434,000. Deerfield Management Co. increased its position 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 during the last quarter. Pictet Asset Management Ltd. increased its position in shares of ProNAi Therapeutics by 957.9% in the second quarter. Pictet Asset Management Ltd. now owns 684,433 shares of the company’s stock worth $4,298,000 after buying an additional 619,733 shares during the last quarter. Sabby Management LLC acquired a new position in shares of ProNAi Therapeutics during the second quarter worth about $1,174,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of ProNAi Therapeutics during the third quarter worth about $294,000. 36.09% of the stock is currently owned by hedge funds and other institutional investors.
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.
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