Proteon Therapeutics, Inc. (PRTO) Can’t Be Less Risky. The Stock Formed a Bullish Multiple Top Pattern

July 27, 2018 - By Kristin Houston

Proteon Therapeutics, Inc. (NASDAQ:PRTO) Logo

Investors sentiment decreased to 0.88 in Q1 2018. Its down 0.69, from 1.57 in 2017Q4. It dived, as 3 investors sold Proteon Therapeutics, Inc. shares while 5 reduced holdings. 5 funds opened positions while 2 raised stakes. 7.27 million shares or 0.71% more from 7.22 million shares in 2017Q4 were reported.
Royal Bancorporation Of Canada holds 0% of its portfolio in Proteon Therapeutics, Inc. (NASDAQ:PRTO) for 3,825 shares. Moreover, Raymond James Financial Services Inc has 0% invested in Proteon Therapeutics, Inc. (NASDAQ:PRTO) for 12,300 shares. 53,686 are held by Drw Securities Lc. Northern Tru accumulated 16,315 shares. Blackrock Inc accumulated 3,668 shares or 0% of the stock. Loring Wolcott & Coolidge Fiduciary Advsrs Llp Ma stated it has 0% of its portfolio in Proteon Therapeutics, Inc. (NASDAQ:PRTO). Acadian Asset Mgmt Ltd Co invested in 0% or 5,328 shares. Morgan Stanley holds 402 shares or 0% of its portfolio. Baker Bros Advsr Lp owns 0.01% invested in Proteon Therapeutics, Inc. (NASDAQ:PRTO) for 298,591 shares. Citadel Advsrs Lc invested in 18,079 shares. Vanguard Grp has invested 0% in Proteon Therapeutics, Inc. (NASDAQ:PRTO). Deer Vii Ltd has invested 2.94% of its portfolio in Proteon Therapeutics, Inc. (NASDAQ:PRTO). Boothbay Fund Mgmt Lc reported 0.01% in Proteon Therapeutics, Inc. (NASDAQ:PRTO). The Massachusetts-based Ra Capital Ltd Liability Com has invested 0.26% in Proteon Therapeutics, Inc. (NASDAQ:PRTO). Panagora Asset Management Inc reported 0% stake.

The stock of Proteon Therapeutics, Inc. (PRTO) shows a multiple tops pattern with $2.57 target or 7.00 % above today’s $2.40 share price. The 7 months chart pattern indicates low risk for the $42.42 million company. It was reported on Jul, 27 by If the $2.57 price target is reached, the company will be worth $2.97M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

It closed at $2.4 lastly. It is down 57.69% since July 27, 2017 and is uptrending. It has outperformed by 45.12% the S&P500.

Analysts await Proteon Therapeutics, Inc. (NASDAQ:PRTO) to report earnings on August, 6. They expect $-0.35 EPS, down 6.06 % or $0.02 from last year’s $-0.33 per share. After $-0.34 actual EPS reported by Proteon Therapeutics, Inc. for the previous quarter, Wall Street now forecasts 2.94 % negative EPS growth.

Proteon Therapeutics, Inc. (NASDAQ:PRTO) Ratings Coverage

Among 2 analysts covering Proteon Therapeutics (NASDAQ:PRTO), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Proteon Therapeutics has $3 highest and $2.3 lowest target. $3’s average target is 25.00% above currents $2.4 stock price. Proteon Therapeutics had 3 analyst reports since March 15, 2018 according to SRatingsIntel. The rating was maintained by Robert W. Baird with “Outperform” on Thursday, March 15. H.C. Wainwright upgraded Proteon Therapeutics, Inc. (NASDAQ:PRTO) on Thursday, May 10 to “Buy” rating. The rating was maintained by H.C. Wainwright on Friday, March 16 with “Hold”.

Another recent and important Proteon Therapeutics, Inc. (NASDAQ:PRTO) news was published by which published an article titled: “40 Biggest Movers From Yesterday” on July 17, 2018.

Proteon Therapeutics, Inc., a late-stage biopharmaceutical company, focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular diseases. The company has market cap of $42.42 million. It develops vonapanitase, a recombinant human elastase, which is in Phase III clinical trial for patients with chronic kidney disease undergoing surgical creation of a radiocephalic fistula for hemodialysis; has completed a Phase I/II clinical trial in patients undergoing placement of an arteriovenous graft; and is in Phase I clinical trial for the treatment of symptomatic peripheral artery disease. It currently has negative earnings.

Proteon Therapeutics, Inc. (NASDAQ:PRTO) Institutional Positions Chart

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