Prothena (NASDAQ:PRTA) Shares Pass Below 200 Day Moving Average - Time to Sell?

Prothena Corporation plc (NASDAQ:PRTA - Get Free Report)'s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.63 and traded as low as $5.51. Prothena shares last traded at $5.70, with a volume of 3,132,980 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada lowered their price target on shares of Prothena from $24.00 to $20.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st. Oppenheimer cut shares of Prothena from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 27th. JMP Securities lowered their price target on shares of Prothena from $78.00 to $29.00 and set a "market outperform" rating on the stock in a research note on Tuesday, May 27th. Wall Street Zen raised shares of Prothena from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. Finally, HC Wainwright lowered their price target on shares of Prothena from $30.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $31.50.

Prothena Trading Up 0.7%

The stock has a market capitalization of $306.83 million, a price-to-earnings ratio of -2.74 and a beta of -0.08. The stock's 50 day moving average is $7.32 and its 200 day moving average is $11.63.

Prothena (NASDAQ:PRTA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.20). The business had revenue of $2.83 million during the quarter, compared to analyst estimates of $8.18 million. Prothena had a negative net margin of 79.94% and a negative return on equity of 21.61%. Prothena's revenue was up 5500.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.34) earnings per share. On average, sell-side analysts anticipate that Prothena Corporation plc will post -4.04 EPS for the current year.

Institutional Investors Weigh In On Prothena

Hedge funds have recently modified their holdings of the company. Rhumbline Advisers grew its holdings in shares of Prothena by 1.8% during the fourth quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company's stock worth $930,000 after buying an additional 1,175 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Prothena by 35.7% during the fourth quarter. Handelsbanken Fonder AB now owns 20,900 shares of the biotechnology company's stock worth $289,000 after buying an additional 5,500 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Prothena by 14.9% during the fourth quarter. Bank of New York Mellon Corp now owns 150,238 shares of the biotechnology company's stock worth $2,081,000 after buying an additional 19,452 shares in the last quarter. Purkiss Capital Advisors LLC purchased a new stake in shares of Prothena during the fourth quarter worth about $149,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Prothena by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 327,151 shares of the biotechnology company's stock worth $4,531,000 after buying an additional 2,189 shares in the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

Prothena Company 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.

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