Bks Advisors Lowers stake in Progenics Pharmaceuticals (PGNX)

Progenics Pharmaceuticals (PGNX) : Bks Advisors reduced its stake in Progenics Pharmaceuticals by 10.61% during the most recent quarter end. The investment management company now holds a total of 252,650 shares of Progenics Pharmaceuticals which is valued at $1,685,176 after selling 30,000 shares in Progenics Pharmaceuticals , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Progenics Pharmaceuticals makes up approximately 0.83% of Bks Advisors’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in PGNX in the latest quarter, The investment management firm added 1,077 additional shares and now holds a total of 9,729 shares of Progenics Pharmaceuticals which is valued at $61,876. Dekabank Deutsche Girozentrale sold out all of its stake in PGNX during the most recent quarter. The investment firm sold 34,500 shares of PGNX which is valued $216,660.Cadence Capital Management boosted its stake in PGNX in the latest quarter, The investment management firm added 37,048 additional shares and now holds a total of 192,675 shares of Progenics Pharmaceuticals which is valued at $1,127,149. Progenics Pharmaceuticals makes up approx 0.08% of Cadence Capital Management’s portfolio.California State Teachers Retirement System reduced its stake in PGNX by selling 2,500 shares or 1.69% in the most recent quarter. The Hedge Fund company now holds 145,011 shares of PGNX which is valued at $848,314.

Progenics Pharmaceuticals opened for trading at $6.77 and hit $6.89 on the upside on Wednesday, eventually ending the session at $6.81, with a gain of 0.59% or 0.04 points. The heightened volatility saw the trading volume jump to 8,09,285 shares. Company has a market cap of $477 M.

On the company’s financial health, Progenics Pharmaceuticals reported $-0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.11. The company had revenue of $8.48 million for the quarter, compared to analysts expectations of $6.31 million. The company’s revenue was up 337.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.17 EPS.

Progenics Pharmaceuticals Inc.is engaged in developing medicines for oncology. The Company completed Phase II clinical trials of two product candidates for prostate cancer and resumed a pivotal Phase II trial of an ultra-orphan radiotherapy candidate for pheochromocytoma. Its principal clinical-stage product candidates in oncology are PSMA ADC 1404 (trofolastat) and Azedra. PSMA ADC is a human monoclonal antibody-drug conjugate designed to deliver a chemotherapeutic agent to cancer cells by targeting the three-dimensional structure of the PSMA protein. 1404 (trofolastat) is a radio-labeled small molecule which binds PSMA and acts as an imaging agent to diagnose and detect prostate cancer. Azedra is a radiotherapeutic product candidate in development as a treatment for pheochromocytoma a rare tumor found in the adrenal glands and related paraganglioma tumors occurring in other tissues. The Company also commercializes Relistor a cure for opioid-induced constipation (OIC).

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