Federated Hermes Inc. Has $10.34 Million Stock Position in Prothena Co. plc (NASDAQ:PRTA)

Federated Hermes Inc. grew its holdings in Prothena Co. plc (NASDAQ:PRTA - Free Report) by 84.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 746,177 shares of the biotechnology company's stock after purchasing an additional 341,274 shares during the period. Federated Hermes Inc. owned approximately 1.39% of Prothena worth $10,335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Wellington Management Group LLP increased 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 period. Finepoint Capital LP increased its stake in shares of Prothena by 51.6% in the fourth quarter. Finepoint Capital LP now owns 657,071 shares of the biotechnology company's stock worth $9,100,000 after acquiring an additional 223,600 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Prothena by 93.7% in the fourth quarter. JPMorgan Chase & Co. now owns 387,350 shares of the biotechnology company's stock worth $5,365,000 after acquiring an additional 187,364 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Prothena by 11.5% during the fourth quarter. Vanguard Group Inc. now owns 1,403,838 shares of the biotechnology company's stock worth $19,443,000 after acquiring an additional 144,737 shares in the last quarter. Finally, Norges Bank acquired a new stake in Prothena during the fourth quarter valued at $796,000. Institutional investors and hedge funds own 97.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PRTA shares. Chardan Capital reaffirmed a "buy" rating and set a $40.00 price target on shares of Prothena in a research note on Friday, February 21st. Oppenheimer lifted their target price on shares of Prothena from $58.00 to $62.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Cantor Fitzgerald reissued an "overweight" rating on shares of Prothena in a research report on Friday, February 21st. Bank of America reduced their price objective on shares of Prothena from $26.00 to $22.00 and set a "neutral" rating for the company in a research note on Thursday, December 19th. Finally, HC Wainwright reiterated a "buy" rating and issued a $48.00 price objective on shares of Prothena in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $55.00.

Prothena Price Performance

NASDAQ:PRTA traded down $0.18 during midday trading on Wednesday, reaching $9.41. The stock had a trading volume of 72,191 shares, compared to its average volume of 442,154. The stock has a market capitalization of $506.51 million, a P/E ratio of -4.10 and a beta of 0.07. Prothena Co. plc has a 1-year low of $9.28 and a 1-year high of $25.42. The firm's fifty day simple moving average is $13.18 and its 200-day simple moving average is $14.58.

Prothena (NASDAQ:PRTA - Get Free Report) last issued its quarterly 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 net margin of 90.50% and a negative return on equity of 22.67%. The business had revenue of $2.12 million during the quarter, compared to analyst estimates of $7.53 million. On average, equities research analysts anticipate that Prothena Co. plc will post -4.04 earnings per share for the current fiscal year.

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.