Prothena (NASDAQ:PRTA) Sets New 12-Month Low - Here's What Happened

Shares of Prothena Co. plc (NASDAQ:PRTA - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $15.30 and last traded at $15.30, with a volume of 322995 shares trading hands. The stock had previously closed at $16.27.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Oppenheimer cut their price objective on shares of Prothena from $66.00 to $62.00 and set an "outperform" rating for the company in a research report on Wednesday, August 14th. StockNews.com raised shares of Prothena from a "sell" rating to a "hold" rating in a report on Monday, August 12th. HC Wainwright reaffirmed a "buy" rating and issued a $84.00 target price on shares of Prothena in a report on Tuesday, October 1st. Royal Bank of Canada dropped their target price on shares of Prothena from $28.00 to $24.00 and set a "sector perform" rating for the company in a report on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Prothena in a report on Monday, September 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.86.

Prothena Stock Performance

The firm's fifty day simple moving average is $19.58 and its 200 day simple moving average is $20.85. The firm has a market cap of $822.83 million, a P/E ratio of -15.71 and a beta of 0.17.

Prothena (NASDAQ:PRTA - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported $1.22 EPS for the quarter, beating the consensus estimate of ($1.01) by $2.23. Prothena had a negative net margin of 23.44% and a negative return on equity of 9.00%. The business had revenue of $132.01 million during the quarter, compared to the consensus estimate of $10.73 million. During the same quarter in the prior year, the firm earned ($1.03) EPS. The business's revenue was up 3184.7% on a year-over-year basis. On average, equities research analysts predict that Prothena Co. plc will post -2.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PRTA. China Universal Asset Management Co. Ltd. raised its position in shares of Prothena by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company's stock valued at $173,000 after buying an additional 4,026 shares in the last quarter. Creative Planning purchased a new stake in Prothena in the 3rd quarter worth about $350,000. Duncan Williams Asset Management LLC purchased a new stake in Prothena in the 3rd quarter worth about $816,000. Systematic Financial Management LP raised its position in Prothena by 25.8% in the 2nd quarter. Systematic Financial Management LP now owns 193,763 shares of the biotechnology company's stock worth $3,999,000 after purchasing an additional 39,771 shares during the period. Finally, Algert Global LLC raised its position in Prothena by 59.7% in the 2nd quarter. Algert Global LLC now owns 77,191 shares of the biotechnology company's stock worth $1,593,000 after purchasing an additional 28,841 shares during the period. Institutional investors own 97.08% of the company's stock.

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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