Prothena (NASDAQ:PRTA) Trading Down 2.4% - What's Next?

Prothena Co. plc (NASDAQ:PRTA - Get Free Report)'s stock price was down 2.4% on Monday . The stock traded as low as $9.59 and last traded at $9.47. Approximately 39,115 shares were traded during trading, a decline of 92% from the average daily volume of 498,817 shares. The stock had previously closed at $9.70.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PRTA. Royal Bank of Canada cut their target price 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. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Prothena in a research report on Friday, February 21st. Piper Sandler boosted their price objective on shares of Prothena from $94.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. StockNews.com raised shares of Prothena from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. Finally, HC Wainwright restated a "buy" rating and issued a $48.00 target price on shares of Prothena in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Prothena presently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Prothena Trading Down 1.0 %

The stock has a market capitalization of $517.01 million, a P/E ratio of -4.18 and a beta of 0.07. The company has a fifty day simple moving average of $12.45 and a two-hundred day simple moving average of $14.16.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $7.53 million. As a group, analysts forecast that Prothena Co. plc will post -4.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its stake in Prothena by 22.8% in the 4th 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 during the last quarter. Boxer Capital Management LLC acquired a new position in Prothena in the 4th quarter valued at about $9,556,000. Federated Hermes Inc. grew its stake in Prothena by 84.3% in the 4th quarter. Federated Hermes Inc. now owns 746,177 shares of the biotechnology company's stock valued at $10,335,000 after buying an additional 341,274 shares during the last quarter. Finepoint Capital LP grew its stake 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 last quarter. Finally, JPMorgan Chase & Co. grew its stake in Prothena by 93.7% in the 4th quarter. JPMorgan Chase & Co. now owns 387,350 shares of the biotechnology company's stock valued at $5,365,000 after buying an additional 187,364 shares during the last quarter. 97.08% of the stock is currently owned by institutional investors and hedge funds.

About Prothena

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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