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 raised its position in Prothena Corporation plc (NASDAQ:PRTA - Free Report) by 1.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,199,528 shares of the biotechnology company's stock after purchasing an additional 68,652 shares during the period. Wellington Management Group LLP owned about 9.66% of Prothena worth $64,344,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Virtus ETF Advisers LLC grew its stake in Prothena by 19.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock valued at $71,000 after acquiring an additional 833 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Prothena by 4,626.0% in the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock valued at $74,000 after purchasing an additional 5,875 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Prothena during the 1st 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, Chicago Partners Investment Group LLC raised its position 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 valued at $180,000 after buying an additional 3,315 shares during the last quarter. Hedge funds and other institutional investors own 97.08% of the company's stock.

Analysts Set New Price Targets

PRTA has been the subject of several recent analyst reports. Bank of America reaffirmed an "underperform" rating on shares of Prothena in a research note on Wednesday, May 28th. Chardan Capital reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Prothena in a research report on Tuesday, August 5th. Oppenheimer lowered Prothena from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 27th. Cantor Fitzgerald reissued a "neutral" rating on shares of Prothena in a research note on Friday, June 20th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $14.00 price objective on shares of Prothena in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $30.25.

Prothena Stock Performance

Shares of NASDAQ:PRTA traded down $0.39 during midday trading on Monday, hitting $8.38. 602,598 shares of the company's stock traded hands, compared to its average volume of 1,119,953. The firm's fifty day moving average price is $6.89 and its two-hundred day moving average price is $9.09. Prothena Corporation plc has a twelve month low of $4.32 and a twelve month high of $22.83. The company has a market cap of $451.10 million, a PE ratio of -1.49 and a beta of -0.03.

Prothena (NASDAQ:PRTA - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The biotechnology company reported ($1.86) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.75). The company had revenue of $4.42 million during the quarter, compared to analysts' expectations 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, equities research analysts anticipate that Prothena Corporation plc will post -4.04 EPS 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.