Prosight Management LP Sells 65,345 Shares of Prothena Co. plc (NASDAQ:PRTA)

Prosight Management LP lowered its stake in Prothena Co. plc (NASDAQ:PRTA - Free Report) by 13.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 418,122 shares of the biotechnology company's stock after selling 65,345 shares during the period. Prothena makes up approximately 1.6% of Prosight Management LP's holdings, making the stock its 21st biggest position. Prosight Management LP owned about 0.78% of Prothena worth $5,791,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PRTA. Virtus ETF Advisers LLC grew its holdings in Prothena by 19.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock valued at $71,000 after purchasing an additional 833 shares during the last quarter. Headlands Technologies LLC grew its stake in Prothena by 196.5% in the 4th quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company's stock valued at $102,000 after buying an additional 4,858 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Prothena in the 4th quarter worth $145,000. Purkiss Capital Advisors LLC acquired a new position in Prothena during the 4th quarter worth $149,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Prothena in the fourth quarter valued at about $159,000. Institutional investors own 97.08% of the company's stock.

Prothena Price Performance

PRTA stock traded up $0.08 during mid-day trading on Tuesday, hitting $7.48. 536,038 shares of the stock were exchanged, compared to its average volume of 587,163. The stock has a market capitalization of $402.63 million, a price-to-earnings ratio of -3.25 and a beta of 0.11. The business has a fifty day moving average price of $10.21 and a 200 day moving average price of $13.15. Prothena Co. plc has a 12 month low of $6.47 and a 12 month high of $25.42.

Prothena (NASDAQ:PRTA - Get Free Report) last released 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). Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The business had revenue of $2.83 million for the quarter, compared to the consensus estimate of $8.18 million. During the same period in the prior year, the business posted ($1.34) EPS. Prothena's revenue for the quarter was up 5500.0% on a year-over-year basis. As a group, equities analysts forecast that Prothena Co. plc will post -4.04 EPS for the current fiscal year.

Analysts Set New Price Targets

PRTA has been the subject of several research analyst reports. Oppenheimer boosted their price objective on Prothena from $58.00 to $62.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. HC Wainwright lowered their target price on shares of Prothena from $48.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. StockNews.com upgraded Prothena from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. Chardan Capital reissued a "buy" rating and issued a $40.00 target price on shares of Prothena in a report on Friday, May 9th. Finally, JMP Securities lowered their target price on Prothena from $80.00 to $78.00 and set a "market outperform" rating for the company in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.71.

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.