Prothena (NASDAQ:PRTA) Stock Price Passes Below Two Hundred Day Moving Average - Time to Sell?

Prothena Corporation plc (NASDAQ:PRTA - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.65 and traded as low as $6.31. Prothena shares last traded at $6.40, with a volume of 569,147 shares traded.

Analysts Set New Price Targets

PRTA has been the topic of a number of recent research reports. Jefferies Financial Group cut shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 price target on the stock. in a research report on Tuesday, May 27th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Prothena in a report on Friday, June 20th. Oppenheimer cut shares of Prothena from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 27th. Piper Sandler cut their price target on shares of Prothena from $110.00 to $81.00 and set an "overweight" rating for the company in a research report on Tuesday, May 27th. Finally, Chardan Capital reduced their price objective on Prothena from $40.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $31.50.

Prothena Stock Down 2.6%

The stock has a market cap of $344.51 million, a PE ratio of -3.08 and a beta of 0.01. The business's 50-day simple moving average is $6.13 and its 200-day simple moving average is $10.65.

Prothena (NASDAQ:PRTA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.20). Prothena had a negative net margin of 79.94% and a negative return on equity of 21.61%. The business had revenue of $2.83 million for the quarter, compared to analysts' expectations of $8.18 million. During the same quarter in the prior year, the firm earned ($1.34) EPS. The firm's revenue for the quarter was up 5500.0% on a year-over-year basis. As a group, equities research analysts anticipate that Prothena Corporation plc will post -4.04 earnings per share for the current fiscal year.

Institutional Trading of Prothena

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtus ETF Advisers LLC raised its holdings in Prothena by 19.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock worth $71,000 after purchasing an additional 833 shares in the last quarter. GAMMA Investing LLC raised its stake in Prothena by 4,626.0% in the first quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock worth $74,000 after buying an additional 5,875 shares in the last quarter. Headlands Technologies LLC lifted its holdings in Prothena by 196.5% in the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company's stock worth $102,000 after buying an additional 4,858 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in Prothena during the 1st quarter valued at approximately $126,000. Finally, Mogy Joel R Investment Counsel Inc. purchased a new position in shares of Prothena during the 2nd quarter worth approximately $126,000. Hedge funds and other institutional investors 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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