Public Employees Retirement System of Ohio Invests $256,000 in Prothena Corporation plc $PRTA

Key Points

• The Public Employees Retirement System of Ohio invested $256,000 in Prothena Corporation plc, acquiring 42,158 shares during the 2nd quarter.
• Prothena has a consensus rating of "Hold" from analysts, with recent price target adjustments ranging from $10.00 to $19.75.
• The biotechnology company reported a quarterly loss of ($1.86) earnings per share, missing analysts' estimates and showing a negative return on equity of 62.17%.

Public Employees Retirement System of Ohio bought a new position in Prothena Corporation plc (NASDAQ:PRTA - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 42,158 shares of the biotechnology company's stock, valued at approximately $256,000. Public Employees Retirement System of Ohio owned approximately 0.08% of Prothena as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Mogy Joel R Investment Counsel Inc. purchased a new position in shares of Prothena in the second quarter worth about $126,000. Siren L.L.C. grew its stake in Prothena by 16.7% during the first quarter. Siren L.L.C. now owns 1,283,555 shares of the biotechnology company's stock valued at $15,884,000 after acquiring an additional 183,715 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Prothena during the first quarter valued at approximately $230,000. Birchview Capital LP grew its stake in Prothena by 9.3% during the first quarter. Birchview Capital LP now owns 332,974 shares of the biotechnology company's stock valued at $4,121,000 after acquiring an additional 28,400 shares in the last quarter. Finally, PDT Partners LLC grew its stake in Prothena by 18.2% during the first quarter. PDT Partners LLC now owns 150,316 shares of the biotechnology company's stock valued at $1,860,000 after acquiring an additional 23,113 shares in the last quarter. Hedge funds and other institutional investors own 97.08% of the company's stock.

Analyst Ratings Changes

PRTA has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Prothena in a research note on Saturday, September 27th. Piper Sandler reduced their price objective on shares of Prothena from $81.00 to $15.00 and set an "overweight" rating for the company in a research note on Thursday, August 28th. Chardan Capital reaffirmed a "buy" rating and set a $18.00 price objective on shares of Prothena in a research note on Thursday, August 28th. HC Wainwright reaffirmed a "buy" rating and set a $14.00 price objective on shares of Prothena in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada reduced their price objective on shares of Prothena from $18.00 to $10.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Prothena currently has a consensus rating of "Hold" and an average target price of $19.75.

Prothena Stock Performance

Shares of PRTA opened at $9.86 on Tuesday. The firm has a market cap of $530.76 million, a price-to-earnings ratio of -1.75 and a beta of -0.11. Prothena Corporation plc has a fifty-two week low of $4.32 and a fifty-two week high of $18.88. The firm has a 50 day moving average price of $8.34 and a 200-day moving average price of $7.91.

Prothena (NASDAQ:PRTA - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The biotechnology company reported ($1.86) earnings per share 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 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%. As a group, equities research analysts predict that Prothena Corporation plc will post -4.04 earnings per share for the current year.

Prothena Company 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.

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