JPMorgan Chase & Co. Lowers Holdings in Prothena Co. plc (NASDAQ:PRTA)

JPMorgan Chase & Co. trimmed its position in Prothena Co. plc (NASDAQ:PRTA - Free Report) by 32.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 199,986 shares of the biotechnology company's stock after selling 95,979 shares during the quarter. JPMorgan Chase & Co. owned 0.37% of Prothena worth $3,346,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PRTA. China Universal Asset Management Co. Ltd. raised its position in shares of Prothena by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company's stock worth $173,000 after acquiring an additional 4,026 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Prothena in the 3rd quarter worth $210,000. XTX Topco Ltd bought a new position in shares of Prothena in the 3rd quarter worth $260,000. Orion Portfolio Solutions LLC raised its position in shares of Prothena by 4.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company's stock worth $293,000 after acquiring an additional 739 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Prothena in the 3rd quarter worth $350,000. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

Prothena Price Performance

Prothena stock traded up $0.59 during trading hours on Monday, hitting $13.77. 543,598 shares of the stock traded hands, compared to its average volume of 693,724. The firm's 50 day moving average price is $14.50 and its 200-day moving average price is $18.13. The stock has a market capitalization of $740.96 million, a price-to-earnings ratio of -5.55 and a beta of 0.10. Prothena Co. plc has a 1 year low of $11.70 and a 1 year high of $34.75.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.18) by $0.08. The business had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.22 million. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The company's quarterly revenue was down 98.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 EPS. Research analysts forecast that Prothena Co. plc will post -2.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com lowered Prothena from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Prothena in a research report on Monday, September 30th. Chardan Capital assumed coverage on Prothena in a research report on Friday, December 20th. They set a "buy" rating and a $40.00 target price on the stock. Bank of America reduced their target price on Prothena from $26.00 to $22.00 and set a "neutral" rating on the stock in a research report on Thursday, December 19th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $48.00 target price (down from $84.00) on shares of Prothena in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $46.50.

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.