Siren L.L.C. Increases Stock Position in Prothena Corporation plc $PRTA

Key Points

• Siren L.L.C. has increased its stake in Prothena Corporation plc by 16.7%, now owning approximately 1,283,555 shares worth around $15.9 million.
• Prothena's stock has been downgraded by multiple analysts, with Oppenheimer changing its rating from "outperform" to "market perform" and setting a new price target of $6.00.
• The company's latest earnings report showed a loss of ($1.86) EPS, missing analysts’ estimates, with revenue of $4.42 million compared to expectations of $5.36 million.

Siren L.L.C. grew its holdings in Prothena Corporation plc (NASDAQ:PRTA - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,283,555 shares of the biotechnology company's stock after purchasing an additional 183,715 shares during the period. Prothena makes up about 0.9% of Siren L.L.C.'s portfolio, making the stock its 26th biggest position. Siren L.L.C. owned about 2.38% of Prothena worth $15,884,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors 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 valued at $74,000 after acquiring an additional 5,875 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Prothena in the first quarter worth $126,000. Cary Street Partners Financial LLC bought a new stake in shares of Prothena in the fourth quarter worth $173,000. Chicago Partners Investment Group LLC grew its stake in shares of Prothena by 29.6% in the first quarter. Chicago Partners Investment Group LLC now owns 14,512 shares of the biotechnology company's stock worth $180,000 after purchasing an additional 3,315 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Prothena in the fourth quarter worth $182,000. Institutional investors own 97.08% of the company's stock.

Prothena Trading Down 0.7%

Shares of Prothena stock traded down $0.06 during trading on Wednesday, hitting $8.22. The stock had a trading volume of 472,215 shares, compared to its average volume of 1,060,667. Prothena Corporation plc has a 12 month low of $4.32 and a 12 month high of $22.71. The firm has a market cap of $442.21 million, a price-to-earnings ratio of -1.46 and a beta of -0.04. The business's 50-day moving average is $7.18 and its 200 day moving average is $8.89.

Prothena (NASDAQ:PRTA - Get Free Report) last released its earnings results on Monday, August 4th. The biotechnology company reported ($1.86) EPS 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 business had revenue of $4.42 million for the quarter, compared to the consensus estimate of $5.36 million. As a group, equities analysts expect that Prothena Corporation plc will post -4.04 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRTA. Chardan Capital reiterated a "buy" rating and set a $18.00 price target on shares of Prothena in a report on Thursday, August 28th. 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 report on Tuesday, August 5th. HC Wainwright reissued a "buy" rating and set a $14.00 target price on shares of Prothena in a research note on Tuesday, August 5th. Cantor Fitzgerald restated a "neutral" rating on shares of Prothena in a research note on Friday, June 20th. Finally, Oppenheimer cut shares of Prothena from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 27th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average 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.