Siren L.L.C. Grows Stock Holdings in Prothena Corporation plc $PRTA

Key Points

• Siren L.L.C. increased its holdings in Prothena Corporation by 16.7%, acquiring an additional 183,715 shares in the first quarter, bringing its total to 1,283,555 shares.
• Prothena reported a loss of $1.86 EPS, missing analysts' expectations by $0.75, with total revenue of $4.42 million, below the predicted $5.36 million.
• Analysts have lowered their price targets for Prothena, with JMP Securities reducing its target from $29 to $11, while the average consensus price target sits at $19.75.

Siren L.L.C. grew its holdings in shares of Prothena Corporation plc (NASDAQ:PRTA - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,283,555 shares of the biotechnology company's stock after buying an additional 183,715 shares during the quarter. Prothena accounts for 0.9% of Siren L.L.C.'s portfolio, making the stock its 27th largest position. Siren L.L.C. owned about 2.38% of Prothena worth $15,884,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Prothena by 4,626.0% during the first 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 during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in Prothena during the first quarter worth approximately $126,000. Chicago Partners Investment Group LLC grew its stake in Prothena by 29.6% during the first 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 during the period. ProShare Advisors LLC grew its stake in Prothena by 29.5% during the fourth 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 period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Prothena during the first quarter worth approximately $230,000. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

Prothena Price Performance

NASDAQ PRTA opened at $8.31 on Thursday. Prothena Corporation plc has a 12 month low of $4.32 and a 12 month high of $22.71. The company has a market capitalization of $447.33 million, a price-to-earnings ratio of -1.47 and a beta of -0.04. The company's fifty day moving average price is $7.45 and its two-hundred day moving average price is $8.66.

Prothena (NASDAQ:PRTA - Get Free Report) last posted 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). 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. As a group, analysts anticipate that Prothena Corporation plc will post -4.04 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JMP Securities decreased 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 note on Tuesday, September 2nd. Jefferies Financial Group downgraded shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 target price for the company. in a research note on Tuesday, May 27th. Piper Sandler decreased their target price 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. Royal Bank Of Canada decreased their target price 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. Finally, Chardan Capital restated a "buy" rating and issued a $18.00 target price on shares of Prothena in a research note on Thursday, August 28th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Prothena presently has an average rating of "Hold" and an average 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.

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