Nuveen LLC Buys Shares of 149,961 Prothena Corporation plc $PRTA

Key Points

• Nuveen LLC has acquired 149,961 shares of Prothena Corporation plc, valued at approximately $1,856,000, representing 0.28% of the company's total shares.
• Several institutional investors, including MIRAE ASSET GLOBAL and ProShare Advisors LLC, have increased their stakes in Prothena, highlighting significant investor interest in the biotechnology company.
• Prothena's recent earnings report showed a loss of ($1.86) EPS, below the consensus estimate, with analysts forecasting a negative outlook for the company this fiscal year.

Nuveen LLC purchased a new stake in Prothena Corporation plc (NASDAQ:PRTA - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 149,961 shares of the biotechnology company's stock, valued at approximately $1,856,000. Nuveen LLC owned about 0.28% of Prothena at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG raised its position in Prothena by 195.7% in the 4th quarter. Deutsche Bank AG now owns 95,970 shares of the biotechnology company's stock valued at $1,329,000 after purchasing an additional 63,512 shares during the last quarter. Barclays PLC raised its position in Prothena by 10.6% in the 4th 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 during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Prothena in the 1st quarter valued at $126,000. SG Americas Securities LLC raised its position in Prothena by 92.9% during the 1st quarter. SG Americas Securities LLC now owns 72,559 shares of the biotechnology company's stock worth $898,000 after buying an additional 34,947 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in Prothena by 29.5% during the 4th quarter. ProShare Advisors LLC now owns 14,524 shares of the biotechnology company's stock worth $201,000 after buying an additional 3,312 shares during the last quarter. Hedge funds and other institutional investors own 97.08% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PRTA. Oppenheimer downgraded shares of Prothena from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 27th. JMP Securities cut their price objective on shares of Prothena from $29.00 to $11.00 and set a "market outperform" rating for the company in a research report on Tuesday. HC Wainwright restated a "buy" rating and set a $14.00 price objective on shares of Prothena in a research report on Tuesday, August 5th. Jefferies Financial Group downgraded shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 price objective for the company. in a research report on Tuesday, May 27th. Finally, Bank of America restated an "underperform" rating on shares of Prothena in a research report on Wednesday, May 28th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $19.75.

Prothena Stock Performance

NASDAQ PRTA traded down $0.18 during trading hours on Thursday, reaching $8.21. The company's stock had a trading volume of 946,591 shares, compared to its average volume of 1,015,245. The stock has a market cap of $441.94 million, a PE ratio of -1.46 and a beta of -0.04. Prothena Corporation plc has a fifty-two week low of $4.32 and a fifty-two week high of $22.71. The company's 50-day moving average is $7.27 and its two-hundred day moving average is $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 analysts' consensus estimates of ($1.11) by ($0.75). The business had revenue of $4.42 million during the quarter, compared to analyst estimates of $5.36 million. Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%. Equities analysts expect that Prothena Corporation plc will post -4.04 earnings per share for the current fiscal year.

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.