Price T Rowe Associates Inc. MD Sells 229,852 Shares of Prothena Corporation plc $PRTA

Key Points

• Price T Rowe Associates Inc. MD decreased its holdings in Prothena Corporation by 6.2% during the first quarter, selling 229,852 shares and now owning 3,455,856 shares worth approximately $42.8 million.
• Several research firms have issued new price targets for Prothena, with Jefferies downgrading the stock to a "hold" rating and setting a target of $6.00, while JMP Securities lowered their target from $78.00 to $29.00.
• Prothena recently reported a quarterly loss of (1.86) EPS, missing expectations, and had a revenue of $4.42 million compared to estimates of $5.36 million.

Price T Rowe Associates Inc. MD lessened its position in shares of Prothena Corporation plc (NASDAQ:PRTA - Free Report) by 6.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,455,856 shares of the biotechnology company's stock after selling 229,852 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 6.42% of Prothena worth $42,767,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Prothena by 4,626.0% during the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock worth $74,000 after buying an additional 5,875 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Prothena during the 1st quarter worth approximately $126,000. Cary Street Partners Financial LLC bought a new position in shares of Prothena during the 4th quarter worth approximately $173,000. Chicago Partners Investment Group LLC boosted its holdings in shares of Prothena by 29.6% during the 1st quarter. Chicago Partners Investment Group LLC now owns 14,512 shares of the biotechnology company's stock worth $180,000 after buying an additional 3,315 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Prothena during the 4th quarter worth approximately $182,000. 97.08% of the stock is currently owned by institutional investors.

Prothena Trading Up 0.9%

Shares of PRTA traded up $0.07 during trading hours on Tuesday, reaching $8.27. The stock had a trading volume of 1,048,928 shares, compared to its average volume of 1,135,905. Prothena Corporation plc has a 12 month low of $4.32 and a 12 month high of $22.83. The firm has a 50-day simple moving average of $7.18 and a 200 day simple moving average of $8.89. The company has a market capitalization of $445.17 million, a price-to-earnings ratio of -1.47 and a beta of -0.04.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PRTA shares. Oppenheimer cut Prothena from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 27th. Jefferies Financial Group cut Prothena from a "buy" rating to a "hold" rating and set a $6.00 price target on the stock. in a report on Tuesday, May 27th. Piper Sandler cut their price target on Prothena from $81.00 to $15.00 and set an "overweight" rating on the stock in a report on Thursday, August 28th. HC Wainwright restated a "buy" rating and set a $14.00 price target on shares of Prothena in a report on Tuesday, August 5th. 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 equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.