Phocas Financial Corp. Sells 10,620 Shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX)

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Phocas Financial Corp. lessened its stake in Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,022,708 shares of the biotechnology company’s stock after selling 10,620 shares during the quarter. Phocas Financial Corp. owned about 1.18% of Progenics Pharmaceuticals worth $5,169,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Intercontinental Wealth Advisors LLC bought a new position in Progenics Pharmaceuticals in the second quarter valued at about $35,000. Pinebridge Investments L.P. bought a new position in Progenics Pharmaceuticals in the second quarter valued at about $40,000. Cubist Systematic Strategies LLC grew its position in Progenics Pharmaceuticals by 1,825.1% in the second quarter. Cubist Systematic Strategies LLC now owns 10,126 shares of the biotechnology company’s stock valued at $62,000 after acquiring an additional 9,600 shares during the last quarter. Bank of Montreal Can grew its position in Progenics Pharmaceuticals by 437.9% in the second quarter. Bank of Montreal Can now owns 12,286 shares of the biotechnology company’s stock valued at $76,000 after acquiring an additional 10,002 shares during the last quarter. Finally, Creative Planning grew its position in Progenics Pharmaceuticals by 11.2% in the second quarter. Creative Planning now owns 19,900 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 2,000 shares during the last quarter. 78.49% of the stock is owned by institutional investors and hedge funds.

In related news, insider Lte Partners, Llc bought 43,520 shares of Progenics Pharmaceuticals stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average cost of $4.62 per share, for a total transaction of $201,062.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.26% of the company’s stock.

Shares of NASDAQ:PGNX traded up $0.01 during midday trading on Wednesday, hitting $5.01. 599,200 shares of the stock were exchanged, compared to its average volume of 1,056,745. The stock has a market capitalization of $434.36 million, a price-to-earnings ratio of -7.95 and a beta of 2.69. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.76 and a current ratio of 3.76. The business’s 50-day moving average price is $5.38 and its 200 day moving average price is $5.02. Progenics Pharmaceuticals, Inc. has a 12 month low of $3.42 and a 12 month high of $6.31.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.22) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. Progenics Pharmaceuticals had a negative return on equity of 91.96% and a negative net margin of 311.63%. The company had revenue of $5.61 million for the quarter, compared to analysts’ expectations of $7.05 million. As a group, sell-side analysts expect that Progenics Pharmaceuticals, Inc. will post -1 EPS for the current year.

A number of research firms have issued reports on PGNX. BTIG Research set a $14.00 target price on Progenics Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, August 12th. BidaskClub cut Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, November 23rd. ValuEngine cut Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Finally, Zacks Investment Research cut Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Progenics Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $8.94.

About Progenics Pharmaceuticals

Progenics Pharmaceuticals, Inc, an oncology company, develops, manufactures, and commercializes pharmaceutical products and other technologies to target, diagnose, and treat cancer cancer in the United States and internationally. The company's product candidates include Azedra, a radiotherapeutic product candidate for the treatment of iobenguane scan positive, unresectable, and locally advanced or metastatic pheochromocytoma or paraganglioma for adult and pediatric patients; PyL, a clinical-stage fluorinated prostate specific membrane antigen (PSMA)-targeted PET/CT imaging agent for prostate cancer; and 1095, a PSMA-targeted Iodine-131 labeled small molecule, which is in Phase II clinical trial for the treatment of metastatic castration-resistant prostate cancer.

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Institutional Ownership by Quarter for Progenics Pharmaceuticals (NASDAQ:PGNX)

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