Principia Biopharma Inc (PRNB) Holdings Boosted by Northern Trust Corp

Northern Trust Corp grew its position in shares of Principia Biopharma Inc (NASDAQ:PRNB) by 681.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,864 shares of the company’s stock after buying an additional 70,511 shares during the quarter. Northern Trust Corp’s holdings in Principia Biopharma were worth $2,215,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Principia Biopharma during the 3rd quarter worth approximately $4,368,000. Vanguard Group Inc bought a new position in shares of Principia Biopharma during the 3rd quarter worth approximately $2,745,000. TD Asset Management Inc. lifted its position in shares of Principia Biopharma by 1.2% during the 4th quarter. TD Asset Management Inc. now owns 27,918 shares of the company’s stock worth $765,000 after buying an additional 325 shares in the last quarter. Vanguard Group Inc. bought a new position in shares of Principia Biopharma during the 3rd quarter worth approximately $2,745,000. Finally, Strs Ohio bought a new position in shares of Principia Biopharma during the 4th quarter worth approximately $41,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PRNB stock opened at $28.63 on Monday. Principia Biopharma Inc has a 12-month low of $22.00 and a 12-month high of $38.34. The company has a market cap of $683.25 million and a PE ratio of 50.23.

Principia Biopharma (NASDAQ:PRNB) last issued its quarterly earnings results on Tuesday, March 19th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.68. The company had revenue of $26.14 million for the quarter, compared to analysts’ expectations of $13.70 million. As a group, research analysts expect that Principia Biopharma Inc will post -2.57 earnings per share for the current year.

Several equities analysts have commented on PRNB shares. Zacks Investment Research cut shares of Principia Biopharma from a “buy” rating to a “sell” rating in a research report on Wednesday, January 9th. Leerink Swann set a $42.00 price target on shares of Principia Biopharma and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, Stifel Nicolaus began coverage on shares of Principia Biopharma in a research note on Tuesday, April 16th. They set a “buy” rating and a $45.00 price target for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Principia Biopharma currently has an average rating of “Buy” and an average target price of $43.00.

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Principia Biopharma Profile

Principia Biopharma Inc, a late-stage biopharmaceutical company, focuses on developing novel therapies for immunology and oncology. The company is developing PRN1008, an inhibitor that is in Phase III clinical trial for the treatment of pemphigus, a chronic skin disease, as well as in Phase II clinical trial to treat immune thrombocytopenic purpura.

Further Reading: Understanding Average Daily Trade Volume

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Institutional Ownership by Quarter for Principia Biopharma (NASDAQ:PRNB)

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