Siren L.L.C. Has $15.88 Million Stock Holdings 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. lifted its position 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 quarter. Prothena accounts for approximately 0.9% of Siren L.L.C.'s holdings, making the stock its 26th biggest holding. Siren L.L.C. owned approximately 2.38% of Prothena worth $15,884,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in Prothena by 22.8% during the 4th quarter. Wellington Management Group LLP now owns 5,130,876 shares of the biotechnology company's stock worth $71,063,000 after buying an additional 952,088 shares in the last quarter. Boxer Capital Management LLC acquired a new position in Prothena during the 4th quarter worth about $9,556,000. Nuveen LLC acquired a new position in Prothena during the 1st quarter worth about $1,856,000. DCF Advisers LLC lifted its position in Prothena by 88.4% during the 1st quarter. DCF Advisers LLC now owns 195,000 shares of the biotechnology company's stock worth $2,413,000 after buying an additional 91,500 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Prothena during the 4th quarter worth about $1,117,000. Institutional investors own 97.08% of the company's stock.

Analysts Set New Price Targets

PRTA has been the topic of several research reports. JMP Securities reduced their price target on shares of Prothena from $78.00 to $29.00 and set a "market outperform" rating on the stock in a research report on Tuesday, May 27th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Prothena in a research report on Friday, June 20th. Oppenheimer downgraded shares of Prothena from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 27th. Jefferies Financial Group downgraded shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 target price on the stock. in a research report on Tuesday, May 27th. Finally, Royal Bank Of Canada cut their target price on shares of Prothena from $18.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $22.00.

Prothena Stock Performance

Prothena stock traded down $0.04 during trading hours on Friday, reaching $8.20. 903,119 shares of the company's stock traded hands, compared to its average volume of 1,183,799. The firm has a market capitalization of $441.41 million, a price-to-earnings ratio of -1.45 and a beta of -0.04. The firm's 50 day moving average is $7.10 and its 200-day moving average is $8.93. Prothena Corporation plc has a fifty-two week low of $4.32 and a fifty-two week high of $22.83.

Prothena (NASDAQ:PRTA - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $4.42 million during the quarter, compared to analyst estimates of $5.36 million. Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%. Analysts predict that Prothena Corporation plc will post -4.04 EPS for the current year.

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.