JPMorgan Chase & Co. Acquires 187,364 Shares of Prothena Co. plc (NASDAQ:PRTA)

JPMorgan Chase & Co. raised its position in Prothena Co. plc (NASDAQ:PRTA - Free Report) by 93.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 387,350 shares of the biotechnology company's stock after purchasing an additional 187,364 shares during the period. JPMorgan Chase & Co. owned 0.72% of Prothena worth $5,365,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRTA. Teacher Retirement System of Texas acquired a new stake in shares of Prothena in the 4th quarter valued at about $145,000. Purkiss Capital Advisors LLC acquired a new position in Prothena during the 4th quarter valued at about $149,000. Chicago Partners Investment Group LLC bought a new stake in Prothena during the 4th quarter worth approximately $159,000. China Universal Asset Management Co. Ltd. increased its holdings in Prothena by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company's stock worth $158,000 after purchasing an additional 1,065 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Prothena during the 4th quarter worth approximately $179,000. Institutional investors and hedge funds own 97.08% of the company's stock.

Prothena Trading Up 2.6 %

Shares of PRTA stock traded up $0.25 during trading hours on Wednesday, reaching $9.79. The company's stock had a trading volume of 112,931 shares, compared to its average volume of 497,473. Prothena Co. plc has a one year low of $9.00 and a one year high of $25.42. The stock has a market capitalization of $526.97 million, a P/E ratio of -4.26 and a beta of 0.07. The firm's fifty day simple moving average is $12.71 and its 200 day simple moving average is $14.32.

Prothena (NASDAQ:PRTA - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.12 million for the quarter, compared to analysts' expectations of $7.53 million. As a group, equities research analysts forecast that Prothena Co. plc will post -4.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

PRTA has been the subject of a number of recent research reports. Oppenheimer boosted their price objective on Prothena from $58.00 to $62.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. StockNews.com raised Prothena from a "sell" rating to a "hold" rating in a report on Monday, February 24th. HC Wainwright reissued a "buy" rating and set a $48.00 price objective on shares of Prothena in a report on Friday, February 21st. Royal Bank of Canada reduced their price objective on Prothena from $24.00 to $20.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. Finally, Piper Sandler increased their price objective on Prothena from $94.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Prothena currently has an average rating of "Moderate Buy" and a consensus price target of $55.00.

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.