Jefferies Downgrades ProNAi Therapeutics Inc to Hold

Brokerage firm Jefferies Downgrades its rating on ProNAi Therapeutics Inc(NASDAQ:DNAI). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Jefferies was issued on Jun 6, 2016.

ProNAi Therapeutics Inc (DNAI) shares turned negative on Fridays trading session with the shares closing down -0.07 points or -3.40% at a volume of 25,26,460. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $2.06. The peak price level was also seen at $2.06 while the days lowest was $1.98. Finally the shares closed at $1.99. The 52-week high of the shares is $33.75 while the 52-week low is $1.98. According to the latest information available, the market cap of the company is $60 M.

ProNAi Therapeutics Inc(DNAI) last announced its earnings results on May 10, 2016 for Fiscal Year 2016 and Q1.Earnings per share were $-0.35. Analysts had estimated an EPS of $-0.42.

Several Insider Transactions has been reported to the SEC. On Mar 24, 2016, Wendy Chapman (SVP Clinical Operations) sold 3,000 shares at $7.01 per share price.Also, On Jan 22, 2016, Wendi Rodigueza (Chief Scientific Officer) sold 3,000 shares at $9.86 per share price.On Jan 19, 2016, Nicholas Glover (CEO and President) sold 5,000 shares at $10.05 per share price, according to the Form-4 filing with the securities and exchange commission.

ProNAi Therapeutics Inc. is a clinical-stage oncology company. The Company develops and commercializes a portfolio of therapeutics based on its deoxyribonucleic acid interference (DNAi) technology platform for patients with cancer and hematological diseases. The Company’s lead DNAi product candidate PNT2258 treat cancers that overexpress BCL2 an oncogene known to be dysregulated in many types of cancer. Its platform consists of two components: Rationally-Designed DNAi Oligonucleotides and Lipid Nanoparticle (LNP) Delivery Technology. The Company has conducted two clinical trials for PNT2258: a Phase I safety trial in patients with relapsed or refractory solid tumors and a Phase II trial in patients with relapsed or refractory non-Hodgkin’s lymphoma (NHL). It has initiated Wolverine a Phase II trial evaluating PNT2258 for the treatment of relapsed or refractory diffuse large B-cell lymphoma.

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