RXDX - Prometheus Biosciences - Novel Therapeutics

Summary

• 88% technical buy signals.
• 8 new highs and up 13.65% in the last month.
• Price targets from 50-75.

The Chart of the Day belongs to the biotechnology company Prometheus Biosciences ( RXDX ). I found the stock by sorting Barchart's All Time High list first by the most frequent number of new highs in the last month and having a Trend Spotter buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter first signaled a buy on 7/19 the stock gained 13.65%.

Prometheus Biosciences, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of novel therapeutics and companion diagnostics products for the treatment of inflammatory bowel diseases ( IBD ). Its lead product includes PRA023, a humanized IgG1 monoclonal antibody ( MAB ), which is in Phase IIa clinical trial for the treatment of ulcerative colitis and Crohn's disease, as well as systemic sclerosis-associated interstitial lung disease. The company also develops PR600, an anti-tumor necrosis factor mAb for IBD; PR300, a G-protein coupled receptor modulator small molecule for IBD; PR1100, an anti-cytokine receptor mAb for IBD and other immune-mediated diseases; PR1800, an anti-chemokine mAb for IBD; and PR2100, an anti-inflammatory cytokine mAb for IBD. It has a diagnostics development and collaboration agreement with Takeda Pharmaceutical Company Limited; co-development and manufacturing agreement with Dr. Falk Pharma GmbH; license agreement with Cedars-Sinai Medical Center; and strategic collaboration with Millennium Pharmaceuticals, Inc. The company was formerly known as Precision IBD, Inc. and changed its name to Prometheus Biosciences, Inc. in October 2019. Prometheus Biosciences, Inc. was incorporated in 2016 and is headquartered in San Diego, California. (Source: Seeking Alpha)

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

• 88% technical buy signals but increasing
• 107.66+ Weighted Alpha
• 129.97% gain in the last year
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 9 new highs and up 13.65% in the last month
• Relative Strength Index 67.52%
• Technical support level at 52.44
• Recently traded at 54.55 with 50 day moving average of 40.81

Fundamental factors:

• Market Cap $2.33 billion
• Revenue expected to increase 92.10% this year but decrease by 62.60% next year
• Earnings estimated decrease 22.20% this year, and decrease again by another 4.50% next year

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