Principia Biopharma Inc’s (PRNB) Lock-Up Period To Expire on March 13th

Principia Biopharma’s (NASDAQ:PRNB) lock-up period is set to expire on Wednesday, March 13th. Principia Biopharma had issued 6,250,000 shares in its public offering on September 14th. The total size of the offering was $106,250,000 based on an initial share price of $17.00. After the end of Principia Biopharma’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Separately, Zacks Investment Research lowered shares of Principia Biopharma from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Principia Biopharma presently has an average rating of “Buy” and a consensus target price of $32.50.

Shares of NASDAQ PRNB opened at $30.94 on Friday. Principia Biopharma has a twelve month low of $22.00 and a twelve month high of $38.05.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC purchased a new stake in Principia Biopharma during the 4th quarter valued at $3,056,000. FMR LLC raised its stake in Principia Biopharma by 61.1% during the 4th quarter. FMR LLC now owns 1,142,071 shares of the company’s stock valued at $31,281,000 after buying an additional 433,194 shares during the last quarter. American International Group Inc. purchased a new stake in shares of Principia Biopharma in the 4th quarter worth $103,000. Northern Trust Corp increased its stake in shares of Principia Biopharma by 681.1% in the 4th quarter. Northern Trust Corp now owns 80,864 shares of the company’s stock worth $2,215,000 after purchasing an additional 70,511 shares in the last quarter. Finally, Citigroup Inc. purchased a new stake in shares of Principia Biopharma in the 4th quarter worth $45,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

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About Principia Biopharma

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.

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