Wellington Management Group LLP Has $71.06 Million Stock Position in Prothena Co. plc (NASDAQ:PRTA)

Wellington Management Group LLP increased its holdings in Prothena Co. plc (NASDAQ:PRTA - Free Report) by 22.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,130,876 shares of the biotechnology company's stock after acquiring an additional 952,088 shares during the period. Wellington Management Group LLP owned approximately 9.53% of Prothena worth $71,063,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Boxer Capital Management LLC purchased a new stake in Prothena during the fourth quarter worth about $9,556,000. Federated Hermes Inc. grew its holdings in shares of Prothena by 84.3% during the fourth quarter. Federated Hermes Inc. now owns 746,177 shares of the biotechnology company's stock worth $10,335,000 after buying an additional 341,274 shares in the last quarter. Finepoint Capital LP grew its stake in Prothena by 51.6% in the 4th quarter. Finepoint Capital LP now owns 657,071 shares of the biotechnology company's stock worth $9,100,000 after acquiring an additional 223,600 shares during the period. JPMorgan Chase & Co. grew its stake in Prothena by 93.7% in the 4th quarter. JPMorgan Chase & Co. now owns 387,350 shares of the biotechnology company's stock worth $5,365,000 after acquiring an additional 187,364 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Prothena by 11.5% in the fourth quarter. Vanguard Group Inc. now owns 1,403,838 shares of the biotechnology company's stock valued at $19,443,000 after purchasing an additional 144,737 shares during the period. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PRTA shares. Royal Bank of Canada lowered their price objective on Prothena from $24.00 to $20.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Bank of America reiterated an "underperform" rating on shares of Prothena in a report on Wednesday. Cantor Fitzgerald downgraded shares of Prothena from an "overweight" rating to a "neutral" rating in a research note on Tuesday. HC Wainwright decreased their price target on shares of Prothena from $30.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Wall Street Zen raised Prothena from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $31.50.

Prothena Trading Down 2.3%

PRTA stock traded down $0.11 during midday trading on Friday, hitting $4.59. 1,963,387 shares of the company's stock were exchanged, compared to its average volume of 686,990. Prothena Co. plc has a 12-month low of $4.32 and a 12-month high of $25.42. The stock has a market capitalization of $247.07 million, a price-to-earnings ratio of -2.00 and a beta of 0.11. The firm has a 50 day moving average price of $8.88 and a 200-day moving average price of $12.48.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.20). The company had revenue of $2.83 million for the quarter, compared to the consensus estimate of $8.18 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The firm's revenue for the quarter was up 5500.0% compared to the same quarter last year. During the same period last year, the company posted ($1.34) earnings per share. On average, sell-side analysts forecast that Prothena Co. plc will post -4.04 EPS for the current fiscal year.

About Prothena

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.