PROCEPT BioRobotics Corporation [PRCT] Director makes an insider sale of 20,000 shares worth $0.72 million.

PROCEPT BioRobotics Corporation’s recently made public that its Director Krummel Thomas M unloaded Company’s shares for reported $0.72 million on Jun 21. In the deal valued at $35.98 per share,20,000 shares were sold. As a result of this transaction, Krummel Thomas M now holds 82,920 shares worth roughly $ 3.46 million.

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Then, Nouri Alaleh sold 678 shares, generating $23,771 in total proceeds. Upon selling the shares at $35.06, the EVP, CLO, CORP. SEC. now owns 46,468 shares.

Before that, VIKING GLOBAL INVESTORS LP sold 1,249,000 shares. PROCEPT BioRobotics Corporation shares valued at $37,345,100 were divested by the 10% Owner at a price of $29.90 per share. As a result of the transaction, VIKING GLOBAL INVESTORS LP now holds 298,205 shares, worth roughly $12.46 million.

Wells Fargo initiated its PROCEPT BioRobotics Corporation [PRCT] rating to an Overweight in a research note published on Friday, September 02, 2022; the price target was $49. PT values the company’s stock at a premium of 14.73 to its Friday closing price. A number of analysts have revised their coverage, including KeyBanc Capital Markets’s analysts, who began to cover the stock in mid July with a ‘”an Overweight”‘ rating. B. Riley Securities began covering PRCT with “Buy” recommendation on June 23, 2022. SVB Leerink started covering the stock on October 11, 2021. It rated PRCT as “an Outperform”.

Price Performance Review of PRCT

On Friday, PROCEPT BioRobotics Corporation [NASDAQ:PRCT] saw its stock fall -6.30% to $41.78. On the same session, the stock had its day’s lowest price of $41.44, but rose to a high of $44.37. Over the last five days, the stock has lost -17.51%. PROCEPT BioRobotics Corporation shares have risen nearly 67.05% since the year began. Nevertheless, the stocks have risen 16.35% over the past one year. While a 52-week high of $52.40 was reached on 09/09/22, a 52-week low of $15.38 was recorded on 01/24/22. SMA at 50 days reached $40.43, while 200 days put it at $32.64. A total of 2.25 million shares were traded, compared to the trading of 0.65 million shares in the previous session.

Levels Of Support And Resistance For PRCT Stock

The 24-hour chart illustrates a support level at 40.69, which if violated will result in even more drops to 39.60. On the upside, there is a resistance level at 43.62. A further resistance level may holdings at 45.46. The Relative Strength Index (RSI) on the 14-day chart is 46.47, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.53%. Stochastics %K at 43.79% indicates the stock is a holding.

How much short interest is there in PROCEPT BioRobotics Corporation?

A steep rise in short interest was recorded in PROCEPT BioRobotics Corporation stocks on Jul 14, 2022, growing by 0.4 million shares to a total of 2.67 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 2.27 million shares. There was a rise of 14.98%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 11.81% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.6.

PROCEPT BioRobotics Corporation [PRCT] – Who Are The Largest Shareholders?

In filings from CPMG, Inc., it is revealed that the company now owns 10,167,080 shares, or roughly 22.80% of the outstanding PRCT shares. In other words, the investor’s shares have fallen by -751,313 from its previous 13-F filing of 10918393.0. Additionally, Fidelity Management & Research Co increased 21.76% of its stake after which the total value it holdings stand at $237,414,026, while T. Rowe Price Associates, Inc. added 1.52% of its stake to hold $158.03 million in the firm. Over the last quarter, The Vanguard Group, Inc. purchased 1,814,164 shares of PROCEPT BioRobotics Corporation, while Viking Global Investors LP bought -2,113,892 shares. At present, BlackRock Fund Advisors is holding 1,142,294 shares valued at $46.24 million. Driehaus Capital Management LLC owned 762,885 shares of the company at the time of its most recent 13F filing, worth $30.88 million.

According to FactSet, PROCEPT BioRobotics Corporation’s share price will average $47.71 in the next year, based on opinions of analysts polled by the firm. This is up nearly 9.89 percent from its previous closing price of $44.59. Analysts expect PROCEPT BioRobotics Corporation stock to reach the higher price of $53.00, while the lowest price estimate is $39.00. However, 7 analysts have rated PRCT stock as a Buy in their predictions for 2022. The most recent change occurred on October 11, 2021 when Guggenheim began covering the stock and recommended ‘”a Buy”‘ rating along with a $45 price target.


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