Shares of Prothena Co. plc (NASDAQ:PRTA – Get Free Report) fell 5% during trading on Tuesday . The stock traded as low as $19.78 and last traded at $19.98. 114,115 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 673,670 shares. The stock had previously closed at $21.04.
Analyst Ratings Changes
PRTA has been the subject of a number of research reports. StockNews.com downgraded shares of Prothena from a “hold” rating to a “sell” rating in a research report on Monday, February 19th. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research note on Wednesday, April 10th. Royal Bank of Canada reduced their price target on Prothena from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. JMP Securities lowered their price objective on Prothena from $85.00 to $83.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 9th. Finally, HC Wainwright cut their target price on shares of Prothena from $90.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Prothena presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.
Prothena Trading Down 3.1 %
The stock has a market cap of $1.10 billion, a PE ratio of -6.14 and a beta of 0.24. The business has a 50-day moving average price of $21.78 and a 200-day moving average price of $28.17.
Prothena (NASDAQ:PRTA – Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.21) by ($0.13). Prothena had a negative net margin of 193.17% and a negative return on equity of 30.48%. The company had revenue of $0.05 million for the quarter, compared to analysts’ expectations of $3.75 million. During the same period in the previous year, the business earned ($0.89) earnings per share. Equities analysts expect that Prothena Co. plc will post -4.69 earnings per share for the current year.
Hedge Funds Weigh In On Prothena
Several hedge funds and other institutional investors have recently made changes to their positions in PRTA. FMR LLC grew its holdings in shares of Prothena by 1.5% during the third quarter. FMR LLC now owns 8,030,290 shares of the biotechnology company’s stock worth $387,461,000 after buying an additional 117,524 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Prothena by 10.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company’s stock valued at $153,986,000 after acquiring an additional 417,338 shares in the last quarter. Wellington Management Group LLP raised its holdings in Prothena by 21.1% in the 4th quarter. Wellington Management Group LLP now owns 2,594,102 shares of the biotechnology company’s stock valued at $94,270,000 after acquiring an additional 452,455 shares during the last quarter. Vanguard Group Inc. lifted its stake in Prothena by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock worth $27,873,000 after purchasing an additional 54,728 shares in the last quarter. Finally, Artal Group S.A. boosted its holdings in shares of Prothena by 99.7% during the 1st quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company’s stock worth $24,804,000 after purchasing an additional 500,000 shares during the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.
About Prothena
Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on discovery and development of novel therapies to treat diseases caused by protein dysregulation in the United States. The company is involved in developing birtamimab, an investigational humanized antibody that is in Phase III clinical trial for the treatment of AL amyloidosis; Prasinezumab, a humanized monoclonal antibody, for the treatment of Parkinson’s disease and other related synucleinopathies which is in Phase IIb clinical trial; NNC6019 that is in Phase lI clinical trial for the treatment of ATTR amyloidosis; and BMS-986446 and PRX012, which is in Phase I clinical trial for the treatment of Alzheimer’s disease.