Prothena Corporation plc $PRTA Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its ownership in Prothena Corporation by acquiring an additional 68,652 shares, bringing its total shares to 5,199,528, valued at approximately $64.34 million.
• Analysts have mixed ratings on Prothena, with four firms issuing "buy" ratings and others providing "hold" or "sell" ratings, leading to a consensus rating of "Hold" with an average price target of $30.25.
• Prothena reported a significant quarterly loss of ($1.86) EPS, falling short of analysts' expectations and showing a revenue of only $4.42 million against an estimated $5.36 million.

Wellington Management Group LLP lifted its position in shares of Prothena Corporation plc (NASDAQ:PRTA - Free Report) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,199,528 shares of the biotechnology company's stock after buying an additional 68,652 shares during the quarter. Wellington Management Group LLP owned approximately 9.66% of Prothena worth $64,344,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Virtus ETF Advisers LLC grew its holdings in shares of Prothena by 19.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock worth $71,000 after buying an additional 833 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Prothena during the first quarter worth about $126,000. Cary Street Partners Financial LLC purchased a new stake in shares of Prothena during the fourth quarter worth about $173,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Prothena during the fourth quarter worth about $182,000. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Chardan Capital reissued a "buy" rating and issued a $18.00 target price on shares of Prothena in a research report on Thursday. Cantor Fitzgerald reissued a "neutral" rating on shares of Prothena in a research report on Friday, June 20th. Piper Sandler decreased their target price on shares of Prothena from $81.00 to $15.00 and set an "overweight" rating on the stock in a research report on Thursday. JMP Securities decreased their target price 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. Finally, Jefferies Financial Group cut 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. Four 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. Based on data from MarketBeat.com, Prothena has an average rating of "Hold" and an average price target of $22.00.

Prothena Price Performance

PRTA stock traded down $0.07 during midday trading on Thursday, reaching $8.49. 767,158 shares of the company's stock traded hands, compared to its average volume of 1,058,973. The company has a market capitalization of $457.12 million, a P/E ratio of -1.50 and a beta of -0.03. Prothena Corporation plc has a fifty-two week low of $4.32 and a fifty-two week high of $22.83. The business has a 50-day moving average price of $7.00 and a two-hundred day moving average price of $9.08.

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 business had revenue of $4.42 million for 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%. As a group, research analysts forecast that Prothena Corporation plc will post -4.04 earnings per share for the current fiscal 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.