Proteon Therapeutics Inc (NASDAQ:PRTO) Short Interest Down 16.7% in June

Proteon Therapeutics Inc (NASDAQ:PRTO) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totalling 1,145,900 shares, a decline of 16.7% from the May 30th total of 1,375,200 shares. Approximately 14.6% of the company’s stock are sold short. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is currently 0.9 days.

Several analysts have issued reports on the stock. JMP Securities lowered shares of Proteon Therapeutics to a “market perform” rating in a research report on Thursday, March 28th. HC Wainwright reaffirmed a “buy” rating on shares of Zynerba Pharmaceuticals in a research report on Monday, March 18th. Zacks Investment Research lowered shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Robert W. Baird upped their price target on shares of Total System Services from $98.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, March 29th. Finally, Cowen reaffirmed a “buy” rating and set a $149.00 price target on shares of Intercept Pharmaceuticals in a research report on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Proteon Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $2.63.

A hedge fund recently bought a new stake in Proteon Therapeutics stock. Wedbush Securities Inc. acquired a new stake in Proteon Therapeutics Inc (NASDAQ:PRTO) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 59,000 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. Wedbush Securities Inc. owned about 0.30% of Proteon Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 22.86% of the company’s stock.

NASDAQ PRTO traded down $0.01 on Friday, hitting $0.45. 713,184 shares of the stock were exchanged, compared to its average volume of 694,120. The business has a fifty day simple moving average of $0.42. Proteon Therapeutics has a 52 week low of $0.35 and a 52 week high of $3.94. The stock has a market capitalization of $8.97 million, a P/E ratio of -0.39 and a beta of 0.43.

Proteon Therapeutics (NASDAQ:PRTO) last posted its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.11). As a group, equities analysts forecast that Proteon Therapeutics will post -0.59 earnings per share for the current fiscal year.

About Proteon Therapeutics

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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