Goldman Sachs Group Inc. Decreases 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. trimmed its position in shares of Prothena Corporation plc (NASDAQ:PRTA - Free Report) by 8.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 510,462 shares of the biotechnology company's stock after selling 46,064 shares during the quarter. Goldman Sachs Group Inc. owned 0.95% of Prothena worth $6,317,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Prothena by 4,626.0% during the first quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock valued at $74,000 after buying an additional 5,875 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Prothena during the first quarter valued at $126,000. Chicago Partners Investment Group LLC boosted its stake in shares of Prothena by 29.6% during the first quarter. Chicago Partners Investment Group LLC now owns 14,512 shares of the biotechnology company's stock valued at $180,000 after purchasing an additional 3,315 shares during the period. ProShare Advisors LLC boosted its stake in shares of Prothena by 29.5% during the fourth quarter. ProShare Advisors LLC now owns 14,524 shares of the biotechnology company's stock valued at $201,000 after purchasing an additional 3,312 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Prothena during the first quarter valued at $230,000. 97.08% of the stock is currently owned by institutional investors.

Prothena Price Performance

Shares of NASDAQ:PRTA opened at $8.21 on Monday. The business's 50 day moving average price is $7.53 and its 200-day moving average price is $8.48. Prothena Corporation plc has a 1 year low of $4.32 and a 1 year high of $22.71. The firm has a market capitalization of $441.94 million, a price-to-earnings ratio of -1.46 and a beta of -0.04.

Prothena (NASDAQ:PRTA - Get Free Report) last issued 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 company had revenue of $4.42 million during the quarter, compared to analyst estimates of $5.36 million. Prothena had a negative return on equity of 62.17% and a negative net margin of 2,929.30%. On average, sell-side analysts expect that Prothena Corporation plc will post -4.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PRTA shares. JMP Securities lowered their target price on shares of Prothena from $29.00 to $11.00 and set a "market outperform" rating for the company in a research note on Tuesday, September 2nd. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Prothena in a research note on Friday, June 20th. Oppenheimer lowered shares of Prothena from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 27th. Jefferies Financial Group lowered shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 price objective for the company. in a research note on Tuesday, May 27th. Finally, Chardan Capital reiterated a "buy" rating and issued a $18.00 target price on shares of Prothena in a report on Thursday, August 28th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $19.75.

Prothena Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.