Trexquant Investment LP Makes New $7.04 Million Investment in PROCEPT BioRobotics Corporation $PRCT

Trexquant Investment LP acquired a new position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 120,789 shares of the company’s stock, valued at approximately $7,037,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRCT. Champlain Investment Partners LLC lifted its holdings in shares of PROCEPT BioRobotics by 48.0% during the first quarter. Champlain Investment Partners LLC now owns 676,196 shares of the company’s stock worth $39,395,000 after buying an additional 219,266 shares in the last quarter. Thematics Asset Management lifted its holdings in shares of PROCEPT BioRobotics by 39,180.6% during the first quarter. Thematics Asset Management now owns 226,256 shares of the company’s stock worth $13,182,000 after buying an additional 225,680 shares in the last quarter. Comerica Bank lifted its holdings in shares of PROCEPT BioRobotics by 94.6% during the first quarter. Comerica Bank now owns 235,803 shares of the company’s stock worth $13,738,000 after buying an additional 114,645 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of PROCEPT BioRobotics by 131.5% during the first quarter. Jump Financial LLC now owns 115,434 shares of the company’s stock worth $6,725,000 after buying an additional 65,569 shares in the last quarter. Finally, Biondo Investment Advisors LLC lifted its holdings in shares of PROCEPT BioRobotics by 0.8% during the first quarter. Biondo Investment Advisors LLC now owns 116,914 shares of the company’s stock worth $6,811,000 after buying an additional 944 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PRCT. Stephens began coverage on PROCEPT BioRobotics in a report on Wednesday, July 9th. They set an “overweight” rating and a $70.00 target price for the company. Oppenheimer began coverage on PROCEPT BioRobotics in a report on Monday, July 7th. They set a “market perform” rating for the company. Morgan Stanley dropped their target price on PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, July 15th. Piper Sandler dropped their target price on PROCEPT BioRobotics from $80.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, Wall Street Zen raised PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.88.

PROCEPT BioRobotics Stock Down 0.4%

Shares of NASDAQ PRCT opened at $40.17 on Friday. The company has a current ratio of 9.21, a quick ratio of 7.86 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -25.92 and a beta of 1.05. PROCEPT BioRobotics Corporation has a 12 month low of $37.12 and a 12 month high of $103.81. The stock has a 50-day moving average price of $50.64 and a two-hundred day moving average price of $55.60.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Wednesday, August 6th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.06. The firm had revenue of $79.18 million during the quarter, compared to the consensus estimate of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The business’s quarterly revenue was up 48.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.50) earnings per share. As a group, analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the completion of the transaction, the director owned 14,363 shares of the company’s stock, valued at approximately $883,180.87. The trade was a 63.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 100,000 shares of company stock worth $6,271,250 over the last three months. 6.60% of the stock is currently owned by insiders.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).