Saturday, June 25, 2022

A company insider recently sold 20,000 shares of PROCEPT BioRobotics Corporation [PRCT]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. PROCEPT BioRobotics Corporation shares valued at $719,653 were sold by Krummel Thomas M on Jun 21. At $35.98 per share, Krummel Thomas M sold 20,000 shares. The insider’s holdings dropped to 82,920 shares worth approximately $2.83 million following the completion of this transaction.

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Also, Nouri Alaleh sold 678 shares, netting a total of over 23,771 in proceeds. Following the sale of shares at $35.06 each, the insider now holds 46,468 shares.

Before that, VIKING GLOBAL INVESTORS LP had sold 1,249,000 shares from its account. In a trade valued at $37,345,100, the 10% Owner traded PROCEPT BioRobotics Corporation shares for $29.90 each. Upon closing the transaction, the insider’s holdings decreased to 1,249,000 shares, worth approximately $10.19 million.

As published in their initiating research note from SVB Leerink on October 11, 2021, PROCEPT BioRobotics Corporation [PRCT] has been an Outperform and the price target has been revised to $46. This represents a 25.72% premium over Wednesday’s closing price. Analysts at Guggenheim started covering the stock with ‘”a Buy”‘ outlook in a report released in mid October. As of October 11, 2021, Goldman has initiated its “Neutral” rating for PRCT. Earlier on October 11, 2021, Cowen initiated its rating. Their recommendation was “an Outperform” for PRCT stock.

Analyzing PRCT’s Price Performance

On Wednesday, PROCEPT BioRobotics Corporation [NASDAQ: PRCT] plunged -1.92% to $34.17. The stock’s lowest price that day was $33.46, but it reached a high of $36.125 in the same session. During the last five days, there has been a drop of approximately -0.58%. Over the course of the year, PROCEPT BioRobotics Corporation shares have jumped approximately 36.63%. Nevertheless, trading volume fell to 0.96 million shares from 1.1 million shares the previous day.

Support And Resistance Levels for PROCEPT BioRobotics Corporation (PRCT)

According to the 24-hour chart, there is a support level at 33.04, which, if violated, would cause prices to drop to 31.92. In the upper region, resistance lies at 35.71. The next price resistance is at 37.25. RSI (Relative Strength Index) is 43.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.00, which suggests the price will decrease in the coming days. Percent R is at 81.23%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is PROCEPT BioRobotics Corporation subject to short interest?

Stocks of PROCEPT BioRobotics Corporation saw a sharp steep in short interest on Apr 28, 2022 dropping by 10000.0 shares to 1.69 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 1.7 million shares. A decline of -0.59% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.26 of the overall float, the days-to-cover ratio (short ratio) decline to 5.26.

Which companies own the most shares of PROCEPT BioRobotics Corporation (PRCT)?

According to CPMG, Inc. filings, the company currently owns 10,918,393 shares, which is about 24.72% of the total PRCT shares outstanding. The investor’s shares have plunged by -304,269 from its previous 13-F filing of 11222662.0 shares. With the completion of the buy, Fidelity Management & Research Co’s stake is now worth $188,436,346. T. Rowe Price Associates, Inc. acquire a 174.08% interest valued at $150.44 million while Viking Global Investors LP sold a -1,249,000 stake. A total of 159,999 shares of PROCEPT BioRobotics Corporation were sold by Perceptive Advisors LLC during the quarter, and -532,394 were sold by Duquesne Family Office LLC. In its current portfolio, Massachusetts Financial Services holds 824,244 shares valued at $32.24 million.

In terms of PROCEPT BioRobotics Corporation share price expectations, FactSet research, analysts set an average price target of $45.25 in the next 12 months, up nearly 32.03% from the previous closing price of $34.84. Analysts anticipate PROCEPT BioRobotics Corporation stock to reach $53.00 by 2022, with the lowest price target being $36.00. In spite of this, 4 analysts ranked PROCEPT BioRobotics Corporation stock as an Overweight at the end of 2022. On October 11, 2021, BofA Securities assigned a price target of “a Buy” to the stock and initiated coverage with a $48.

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