Prothena (NASDAQ:PRTA) Stock Price Passes Below 200 Day Moving Average - Should You Sell?

Key Points

• Prothena's stock fell below its 200-day moving average of $8.19, last trading at $8.29 with a volume of 511,942 shares.
• Analyst ratings show a mix for Prothena, with four "Buy," four "Hold," and one "Sell" rating, while the average target price stands at $19.75.
• The biotechnology company reported a loss of $1.86 EPS, missing analyst expectations and indicating challenges with revenue compared to earlier estimates.

Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.19 and traded as low as $8.02. Prothena shares last traded at $8.29, with a volume of 511,942 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PRTA. HC Wainwright reissued a "buy" rating and issued a $14.00 price target on shares of Prothena in a report on Tuesday, August 5th. Piper Sandler cut their target price on shares of Prothena from $81.00 to $15.00 and set an "overweight" rating for the company in a report on Thursday, August 28th. Chardan Capital restated a "buy" rating and set a $18.00 price target on shares of Prothena in a research report on Thursday, August 28th. JMP Securities dropped their price target on shares of Prothena from $29.00 to $11.00 and set a "market outperform" rating on the stock in a research report on Tuesday, September 2nd. Finally, Jefferies Financial Group lowered shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 target price on the stock. in a research note on Tuesday, May 27th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $19.75.

Prothena Stock Up 2.7%

The stock has a market cap of $446.25 million, a PE ratio of -1.47 and a beta of -0.04. The stock has a 50-day moving average of $7.73 and a 200 day moving average of $8.19.

Prothena (NASDAQ:PRTA - Get Free Report) last issued its earnings results on Monday, August 4th. The biotechnology company reported ($1.86) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.75). Prothena had a negative return on equity of 62.17% and a negative net margin of 2,929.30%.The company had revenue of $4.42 million during the quarter, compared to analyst estimates of $5.36 million. Research analysts forecast that Prothena Corporation plc will post -4.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Prothena

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRTA. Prospera Financial Services Inc purchased a new position in shares of Prothena during the 2nd quarter worth $61,000. GAMMA Investing LLC lifted its position in Prothena by 4,626.0% in the first quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock valued at $74,000 after buying an additional 5,875 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Prothena by 571.0% in the second quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company's stock valued at $77,000 after buying an additional 10,815 shares during the last quarter. Corton Capital Inc. purchased a new stake in shares of Prothena in the 2nd quarter valued at approximately $85,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Prothena in the 2nd quarter valued at approximately $101,000. Institutional investors and hedge funds own 97.08% of the company's stock.

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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