Laurion Capital Management LP Invests $2.92 Million in Principia Biopharma Inc (PRNB) Stock

Laurion Capital Management LP acquired a new position in shares of Principia Biopharma Inc (NASDAQ:PRNB) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $2,922,000.

Other institutional investors also recently bought and sold shares of the company. Monashee Investment Management LLC bought a new position in shares of Principia Biopharma in the 3rd quarter valued at $1,826,000. American Century Companies Inc. bought a new position in shares of Principia Biopharma in the 3rd quarter valued at $2,857,000. Victory Capital Management Inc. bought a new position in shares of Principia Biopharma in the 3rd quarter valued at $234,000. AXA bought a new position in shares of Principia Biopharma in the 3rd quarter valued at $4,383,000. Finally, Dean Capital Investments Management LLC bought a new position in shares of Principia Biopharma in the 3rd quarter valued at $537,000. Hedge funds and other institutional investors own 66.33% of the company’s stock.

Several brokerages have recently issued reports on PRNB. Leerink Swann began coverage on Principia Biopharma in a research note on Tuesday, October 9th. They issued an “outperform” rating and a $34.00 price target on the stock. Wells Fargo & Co began coverage on Principia Biopharma in a research note on Tuesday, October 9th. They issued an “outperform” rating on the stock. Robert W. Baird began coverage on Principia Biopharma in a research note on Tuesday, October 9th. They issued an “outperform” rating on the stock. Finally, Bank of America began coverage on Principia Biopharma in a research note on Tuesday, October 9th. They issued a “buy” rating on the stock.

In other news, major shareholder Leaf Ventures Ii L.P. New acquired 270,000 shares of Principia Biopharma stock in a transaction that occurred on Tuesday, September 18th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $4,590,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Srinivas Akkaraju acquired 175,000 shares of Principia Biopharma stock in a transaction that occurred on Tuesday, September 18th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $2,975,000.00. The disclosure for this purchase can be found here.

Shares of PRNB opened at $30.26 on Friday. Principia Biopharma Inc has a 52-week low of $22.00 and a 52-week high of $36.00.

TRADEMARK VIOLATION WARNING: “Laurion Capital Management LP Invests $2.92 Million in Principia Biopharma Inc (PRNB) Stock” was first posted by Stock Observer and is owned by of Stock Observer. If you are reading this piece on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece can be read at https://www.thestockobserver.com/2018/12/08/laurion-capital-management-lp-invests-2-92-million-in-principia-biopharma-inc-prnb-stock.html.

Principia Biopharma Profile

Principia Biopharma Inc, a clinical-stage biopharmaceutical company, focuses on developing novel oral therapies for immunology and oncology in the United States. It is developing PRN1008, an inhibitor that is in Phase II clinical trial for the treatment of pemphigus, a chronic skin disease, as well as in Phase II clinical trial for the treatment of immune thrombocytopenic purpura; PRN2246, an inhibitor that is in Phase I clinical trial for the treatment of multiple sclerosis and other central nervous system diseases; PRN1371, a drug candidate, which is in Phase I clinical trial for the treatment of solid tumors; and oral small molecule inhibitors of the immunoproteasome.

Recommended Story: Float

Want to see what other hedge funds are holding PRNB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principia Biopharma Inc (NASDAQ:PRNB).

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

Receive News & Ratings for Principia Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principia Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply