Prothena Co. plc (NASDAQ:PRTA) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD trimmed its stake in shares of Prothena Co. plc (NASDAQ:PRTA - Free Report) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,685,708 shares of the biotechnology company's stock after selling 136,726 shares during the quarter. Price T Rowe Associates Inc. MD owned about 6.85% of Prothena worth $51,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of PRTA. Wellington Management Group LLP boosted its stake in shares of Prothena by 22.8% in the fourth quarter. Wellington Management Group LLP now owns 5,130,876 shares of the biotechnology company's stock valued at $71,063,000 after buying an additional 952,088 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Prothena by 11.5% during the 4th quarter. Vanguard Group Inc. now owns 1,403,838 shares of the biotechnology company's stock worth $19,443,000 after purchasing an additional 144,737 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Prothena by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 864,833 shares of the biotechnology company's stock worth $11,980,000 after acquiring an additional 10,783 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Prothena by 84.3% in the fourth quarter. Federated Hermes Inc. now owns 746,177 shares of the biotechnology company's stock valued at $10,335,000 after purchasing an additional 341,274 shares during the period. Finally, Finepoint Capital LP grew its holdings in Prothena by 51.6% in the 4th quarter. Finepoint Capital LP now owns 657,071 shares of the biotechnology company's stock valued at $9,100,000 after buying an additional 223,600 shares during the period. 97.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PRTA shares. Chardan Capital reissued a "buy" rating and set a $40.00 price objective on shares of Prothena in a research note on Friday, February 21st. HC Wainwright reaffirmed a "buy" rating and issued a $48.00 price objective on shares of Prothena in a research report on Friday, February 21st. Oppenheimer lifted their target price on Prothena from $58.00 to $62.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Prothena in a report on Friday, February 21st. Finally, Royal Bank of Canada cut their price objective on Prothena from $24.00 to $20.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.00.

Prothena Trading Down 2.5 %

Prothena stock traded down $0.22 during midday trading on Friday, reaching $8.50. 5,554,732 shares of the stock traded hands, compared to its average volume of 526,636. Prothena Co. plc has a fifty-two week low of $8.25 and a fifty-two week high of $25.42. The firm has a market cap of $457.53 million, a price-to-earnings ratio of -3.70 and a beta of 0.07. The firm has a fifty day moving average price of $11.85 and a two-hundred day moving average price of $13.90.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.06). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The company had revenue of $2.12 million during the quarter, compared to analyst estimates of $7.53 million. Analysts anticipate that Prothena Co. plc will post -4.04 earnings per share 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.