Prothena Corporation plc (NASDAQ:PRTA) Shares Bought by DCF Advisers LLC

Key Points

• DCF Advisers LLC increased its stake in Prothena Corporation by 88.4%, owning 195,000 shares following the purchase of an additional 91,500 shares in the first quarter.
• Prothena reported a net loss of ($1.12) earnings per share for the last quarter, missing the consensus estimate and showing a 5500% increase in revenue year-over-year.
• Recent analyst ratings have been mixed, with target prices for Prothena being cut significantly, including a downgrade from $30.00 to $14.00 by HC Wainwright.

DCF Advisers LLC increased its position in Prothena Corporation plc (NASDAQ:PRTA - Free Report) by 88.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 195,000 shares of the biotechnology company's stock after purchasing an additional 91,500 shares during the period. Prothena accounts for 1.2% of DCF Advisers LLC's portfolio, making the stock its 29th biggest position. DCF Advisers LLC owned approximately 0.36% of Prothena worth $2,413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC boosted its position in shares of Prothena by 19.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock valued at $71,000 after buying an additional 833 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Prothena by 4,626.0% in the first quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock valued at $74,000 after acquiring an additional 5,875 shares during the period. Headlands Technologies LLC lifted its holdings in Prothena by 196.5% in the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company's stock valued at $102,000 after acquiring an additional 4,858 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in Prothena in the first quarter valued at about $126,000. Finally, Cary Street Partners Financial LLC bought a new position in Prothena in the fourth quarter valued at about $173,000. 97.08% of the stock is owned by hedge funds and other institutional investors.

Prothena Price Performance

Shares of PRTA stock traded up $0.20 during mid-day trading on Tuesday, hitting $7.14. The stock had a trading volume of 460,387 shares, compared to its average volume of 1,042,629. Prothena Corporation plc has a 12-month low of $4.32 and a 12-month high of $23.66. The firm's 50-day moving average is $5.96 and its two-hundred day moving average is $9.79. The firm has a market capitalization of $384.06 million, a P/E ratio of -3.59 and a beta of -0.03.

Prothena (NASDAQ:PRTA - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The biotechnology company reported ($1.86) EPS for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.75). Prothena had a negative net margin of 79.94% and a negative return on equity of 21.61%. The business had revenue of $4.42 million during the quarter, compared to analysts' expectations of $5.36 million. Analysts expect that Prothena Corporation plc will post -4.04 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PRTA shares. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Prothena in a research note on Friday, June 20th. Piper Sandler decreased their price objective on Prothena from $110.00 to $81.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 27th. Chardan Capital reissued a "buy" rating and set a $18.00 target price on shares of Prothena in a research note on Tuesday. Jefferies Financial Group downgraded Prothena from a "buy" rating to a "hold" rating and set a $6.00 target price on the stock. in a research note on Tuesday, May 27th. Finally, Royal Bank Of Canada decreased their target price on Prothena from $18.00 to $10.00 and set a "sector perform" rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $30.25.

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.