Progenics Pharmaceuticals, Inc. (PGNX) Short Interest Up 27.6% in September
Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) was the target of a large growth in short interest during the month of September. As of September 28th, there was short interest totalling 11,898,460 shares, a growth of 27.6% from the September 14th total of 9,322,155 shares. Based on an average daily trading volume, of 1,927,033 shares, the short-interest ratio is presently 6.2 days. Currently, 14.2% of the company’s shares are short sold.
Institutional investors have recently bought and sold shares of the stock. Clinton Group Inc. acquired a new stake in Progenics Pharmaceuticals in the 2nd quarter valued at approximately $121,000. Jane Street Group LLC grew its stake in shares of Progenics Pharmaceuticals by 296.0% in the first quarter. Jane Street Group LLC now owns 48,685 shares of the biotechnology company’s stock worth $363,000 after acquiring an additional 36,391 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Progenics Pharmaceuticals in the second quarter worth $281,000. Employees Retirement System of Texas grew its stake in shares of Progenics Pharmaceuticals by 21.9% in the second quarter. Employees Retirement System of Texas now owns 139,000 shares of the biotechnology company’s stock worth $1,118,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Progenics Pharmaceuticals by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 1,062,981 shares of the biotechnology company’s stock worth $8,546,000 after acquiring an additional 24,073 shares in the last quarter. Hedge funds and other institutional investors own 88.74% of the company’s stock.
Progenics Pharmaceuticals stock opened at $5.55 on Friday. Progenics Pharmaceuticals has a fifty-two week low of $5.01 and a fifty-two week high of $9.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 6.34 and a quick ratio of 6.34. The company has a market capitalization of $472.50 million, a P/E ratio of -6.22 and a beta of 2.50.
A number of analysts have recently issued reports on the stock. BidaskClub upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. ValuEngine downgraded shares of Progenics Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 29th. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $13.00 target price on shares of Progenics Pharmaceuticals in a report on Wednesday, August 1st. Finally, Needham & Company LLC reiterated a “strong-buy” rating and issued a $14.00 target price on shares of Progenics Pharmaceuticals in a report on Wednesday, August 1st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $11.69.
Progenics Pharmaceuticals Company Profile
Progenics Pharmaceuticals, Inc develops medicines and other technologies to target and treat cancer in the United States and internationally. The company's primary clinical-stage product candidates include Azedra, a radiotherapeutic product candidate, which is in Phase IIb clinical trial under special protocol assessment for the treatment of malignant, recurrent, and/or unresectable pheochromocytoma and paraganglioma; 1404, a technetium-99m labeled small molecule, which is in Phase III clinical trial that acts as an imaging agent to diagnose and detect prostate cancer, as well as soft tissue and bone metastases; and PyL, a fluorinated prostate specific membrane antigen (PSMA)-targeted positron emission topography (PET) imaging agent for prostate cancer.
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