Proteon Therapeutics Inc. (NASDAQ:PRTO) is Attracting Smart Money



In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Proteon Therapeutics Inc. (NASDAQ:PRTO) reported that Flynn James E has picked up 347,100 of common stock as of 2017-06-29.

The acquisition brings the aggregate amount owned by Flynn James E to a total of 347,100 representing a 1.98% stake in the company.

For those not familiar with the company, Proteon Therapeutics, Inc. is a late-stage biopharmaceutical company, which focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. The Company is involved in research and development activities. The Company’s product candidate, product candidate, vonapanitase, formerly PRT-201, is a recombinant human elastase that it is developing to manage vascular access failure in patients with chronic kidney disease undergoing or planning for hemodialysis, a lifesaving treatment that cannot be conducted without a functioning vascular access. The Company has completed Phase II trial of vonapanitase in patients undergoing creation of an arteriovenous fistula (AVF). The Company initiated the first of two Phase III trials, PATENCY-1, for vonapanitase in radiocephalic AVFs. Its vonapanitase product candidate is a recombinant human elastase under development as a treatment to prevent AVF and arteriovenous graft (AVG) patency loss.

A glance at Proteon Therapeutics Inc. (NASDAQ:PRTO) key stats reveals a current market capitalization of $26.88 Million based on $16.77 Million shares outstanding and a price at last close of $1.55 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-06-06, Eldridge picked up 400 at a purchase price of $5.78. This brings their total holding to 400 as of the date of the filing.

On the sell side, the most recent transaction saw Noyes unload 5,000 shares at a sale price of $13.88. This brings their total holding to 0.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Proteon Therapeutics Inc. (NASDAQ:PRTO) as things move forward to see if its progress aligns with these transactions.

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