Armistice Capital LLC Sells 40,000 Shares of Prothena Corporation plc $PRTA

Key Points

• Armistice Capital LLC reduced its stake in Prothena Corporation by 1.8%, holding 2,196,000 shares worth approximately $27 million after selling 40,000 shares during the first quarter.
• Prothena's recent earnings report showed a loss of ($1.86) EPS, falling short of analysts' expectations, with a negative net margin of 2,929.30%.
• Various institutions, including GAMMA Investing LLC and Cambridge Investment Research Advisors, have recently made significant adjustments to their positions in Prothena, which is currently 97.08% owned by institutional investors.

Armistice Capital LLC decreased its stake in Prothena Corporation plc (NASDAQ:PRTA - Free Report) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,196,000 shares of the biotechnology company's stock after selling 40,000 shares during the quarter. Armistice Capital LLC owned 4.08% of Prothena worth $27,176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Invesco Ltd. grew its stake in Prothena by 4.0% in the fourth quarter. Invesco Ltd. now owns 42,846 shares of the biotechnology company's stock valued at $593,000 after purchasing an additional 1,632 shares in the last quarter. Raymond James Financial Inc. bought a new position in Prothena in the fourth quarter valued at approximately $182,000. Barclays PLC grew its stake in Prothena by 10.6% in the fourth quarter. Barclays PLC now owns 105,338 shares of the biotechnology company's stock valued at $1,458,000 after purchasing an additional 10,116 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Prothena by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 864,833 shares of the biotechnology company's stock valued at $11,980,000 after purchasing an additional 10,783 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Prothena by 208.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,826 shares of the biotechnology company's stock valued at $233,000 after buying an additional 11,369 shares during the last quarter. 97.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PRTA has been the topic of a number of recent research reports. Royal Bank Of Canada lowered their price objective on Prothena from $18.00 to $10.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 5th. JMP Securities dropped their price objective on Prothena from $29.00 to $11.00 and set a "market outperform" rating on the stock in a research note on Tuesday. HC Wainwright reissued a "buy" rating and issued a $14.00 price objective on shares of Prothena in a research note on Tuesday, August 5th. Cantor Fitzgerald reissued a "neutral" rating on shares of Prothena in a research note on Friday, June 20th. Finally, Piper Sandler dropped their price objective on Prothena from $81.00 to $15.00 and set an "overweight" rating on the stock in a research note on Thursday, August 28th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $19.75.

Prothena Stock Performance

Shares of Prothena stock traded up $0.29 on Friday, hitting $8.50. The company had a trading volume of 537,224 shares, compared to its average volume of 1,061,467. The stock has a market capitalization of $457.56 million, a price-to-earnings ratio of -1.49 and a beta of -0.04. Prothena Corporation plc has a 1 year low of $4.32 and a 1 year high of $22.71. The stock has a 50 day moving average of $7.27 and a 200-day moving average of $8.84.

Prothena (NASDAQ:PRTA - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The biotechnology company reported ($1.86) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.75). The company had revenue of $4.42 million during the quarter, compared to analysts' expectations of $5.36 million. Prothena had a negative return on equity of 62.17% and a negative net margin of 2,929.30%. Equities analysts anticipate that Prothena Corporation plc will post -4.04 earnings per share for the current year.

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.