Goldman Sachs Group Inc. Has $6.32 Million Stock Position in Prothena Corporation plc $PRTA

Key Points

• Goldman Sachs Group Inc. reduced its stake in Prothena Corporation by 8.3%, owning 510,462 shares valued at $6.31 million after selling 46,064 shares in the first quarter.
• Prothena reported a significant earnings miss, with a loss of ($1.86) EPS against an estimate of ($1.11), and revenue of $4.42 million, falling short of analysts' expectations.
• Analysts hold a mixed view on Prothena, with target prices ranging from $6.00 to $29.00, leading to a consensus rating of "Hold" with a target price of $19.75.

Goldman Sachs Group Inc. cut its stake in Prothena Corporation plc (NASDAQ:PRTA - Free Report) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 510,462 shares of the biotechnology company's stock after selling 46,064 shares during the period. Goldman Sachs Group Inc. owned about 0.95% of Prothena worth $6,317,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PRTA. Wellington Management Group LLP raised its holdings in shares of Prothena by 22.8% in the 4th quarter. Wellington Management Group LLP now owns 5,130,876 shares of the biotechnology company's stock worth $71,063,000 after buying an additional 952,088 shares in the last quarter. Siren L.L.C. raised its holdings in shares of Prothena by 16.7% in the 1st quarter. Siren L.L.C. now owns 1,283,555 shares of the biotechnology company's stock worth $15,884,000 after buying an additional 183,715 shares in the last quarter. Nuveen LLC acquired a new position in shares of Prothena in the 1st quarter worth approximately $1,856,000. DCF Advisers LLC raised its holdings in shares of Prothena by 88.4% in the 1st quarter. DCF Advisers LLC now owns 195,000 shares of the biotechnology company's stock worth $2,413,000 after buying an additional 91,500 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Prothena by 195.7% in the fourth quarter. Deutsche Bank AG now owns 95,970 shares of the biotechnology company's stock valued at $1,329,000 after acquiring an additional 63,512 shares during the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRTA has been the subject of several research analyst reports. JMP Securities cut their price objective on Prothena from $29.00 to $11.00 and set a "market outperform" rating for the company in a research report on Tuesday, September 2nd. Royal Bank Of Canada cut their price target on Prothena from $18.00 to $10.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Piper Sandler decreased their price objective on shares of Prothena from $81.00 to $15.00 and set an "overweight" rating on the stock in a report on Thursday, August 28th. Jefferies Financial Group downgraded shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 target price for the company. in a research note on Tuesday, May 27th. Finally, Cantor Fitzgerald reiterated a "neutral" rating on shares of Prothena in a research report on Friday, June 20th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Prothena presently has a consensus rating of "Hold" and a consensus price target of $19.75.

Prothena Price Performance

Shares of Prothena stock traded up $0.03 on Friday, hitting $8.21. The company had a trading volume of 135,456 shares, compared to its average volume of 1,036,285. The firm has a market capitalization of $441.68 million, a P/E ratio of -1.45 and a beta of -0.04. Prothena Corporation plc has a twelve month low of $4.32 and a twelve month high of $22.25. The stock has a 50-day moving average of $7.66 and a 200-day moving average of $8.38.

Prothena (NASDAQ:PRTA - Get Free Report) last released its earnings results on Monday, August 4th. The biotechnology company reported ($1.86) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.75). The firm had revenue of $4.42 million for the quarter, compared to the consensus estimate 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 predict that Prothena Corporation plc will post -4.04 EPS 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.