Siren L.L.C. Grows Stake 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. raised its holdings in Prothena Corporation plc (NASDAQ:PRTA - Free Report) by 16.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,283,555 shares of the biotechnology company's stock after purchasing an additional 183,715 shares during the quarter. Prothena accounts for 0.9% of Siren L.L.C.'s investment portfolio, making the stock its 27th largest position. Siren L.L.C. owned approximately 2.38% of Prothena worth $15,884,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in Prothena by 1.3% in the 1st quarter. Wellington Management Group LLP now owns 5,199,528 shares of the biotechnology company's stock valued at $64,344,000 after purchasing an additional 68,652 shares during the period. Northern Trust Corp lifted its position in shares of Prothena by 8.5% during the 4th quarter. Northern Trust Corp now owns 404,496 shares of the biotechnology company's stock valued at $5,602,000 after buying an additional 31,841 shares during the last quarter. Birchview Capital LP lifted its position in shares of Prothena by 9.3% during the 1st quarter. Birchview Capital LP now owns 332,974 shares of the biotechnology company's stock valued at $4,121,000 after buying an additional 28,400 shares during the last quarter. DCF Advisers LLC lifted its position in shares of Prothena by 88.4% during the 1st quarter. DCF Advisers LLC now owns 195,000 shares of the biotechnology company's stock valued at $2,413,000 after buying an additional 91,500 shares during the last quarter. Finally, PDT Partners LLC lifted its position in shares of Prothena by 18.2% during the 1st quarter. PDT Partners LLC now owns 150,316 shares of the biotechnology company's stock valued at $1,860,000 after buying an additional 23,113 shares during the last quarter. Institutional investors own 97.08% of the company's stock.

Prothena Stock Performance

PRTA traded up $0.16 on Tuesday, hitting $8.32. 100,323 shares of the company were exchanged, compared to its average volume of 1,046,199. The firm has a fifty day simple moving average of $7.56 and a two-hundred day simple moving average of $8.43. Prothena Corporation plc has a 12 month low of $4.32 and a 12 month high of $22.41. The stock has a market capitalization of $447.60 million, a PE ratio of -1.48 and a beta of -0.04.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Chardan Capital reaffirmed a "buy" rating and set a $18.00 price target on shares of Prothena in a research report on Thursday, August 28th. Bank of America reaffirmed an "underperform" rating on shares of Prothena in a research report on Wednesday, May 28th. JMP Securities dropped their price target on Prothena from $29.00 to $11.00 and set a "market outperform" rating on the stock in a research report on Tuesday, September 2nd. Royal Bank Of Canada dropped their price target on Prothena from $18.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $14.00 price target on shares of Prothena in a research report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Prothena currently has an average rating of "Hold" and a consensus target price 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.