Federated Hermes Inc. acquired a new stake in Prothena Co. plc (NASDAQ:PRTA - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 43,861 shares of the biotechnology company's stock, valued at approximately $905,000. Federated Hermes Inc. owned about 0.08% of Prothena as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Rhumbline Advisers lifted its position in shares of Prothena by 9.9% in the second quarter. Rhumbline Advisers now owns 69,756 shares of the biotechnology company's stock valued at $1,440,000 after buying an additional 6,256 shares during the last quarter. Focused Wealth Management Inc lifted its position in shares of Prothena by 98.7% in the second quarter. Focused Wealth Management Inc now owns 20,129 shares of the biotechnology company's stock valued at $415,000 after buying an additional 10,000 shares during the last quarter. Signaturefd LLC lifted its position in shares of Prothena by 182.1% in the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company's stock valued at $28,000 after buying an additional 863 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Prothena by 13.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company's stock valued at $211,000 after buying an additional 1,186 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Prothena by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 165,423 shares of the biotechnology company's stock worth $3,414,000 after purchasing an additional 19,578 shares during the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently weighed in on PRTA. Cantor Fitzgerald reissued an "overweight" rating on shares of Prothena in a report on Monday, August 12th. StockNews.com raised Prothena from a "sell" rating to a "hold" rating in a report on Monday, August 12th. Royal Bank of Canada dropped their price target on Prothena from $28.00 to $24.00 and set a "sector perform" rating for the company in a report on Friday, August 9th. Finally, Oppenheimer dropped their price target on Prothena from $66.00 to $62.00 and set an "outperform" rating for the company in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Prothena currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.86.
Check Out Our Latest Research Report on PRTA
Prothena Stock Down 0.2 %
Shares of PRTA traded down $0.05 during midday trading on Friday, hitting $21.61. The company's stock had a trading volume of 943,029 shares, compared to its average volume of 584,759. Prothena Co. plc has a one year low of $18.69 and a one year high of $55.89. The company's fifty day simple moving average is $21.78 and its two-hundred day simple moving average is $22.17. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -6.65 and a beta of 0.18.
Prothena (NASDAQ:PRTA - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $2.23. Prothena had a negative return on equity of 9.00% and a negative net margin of 23.44%. The company had revenue of $132.01 million for the quarter, compared to analyst estimates of $10.73 million. During the same quarter last year, the company posted ($1.03) EPS. The company's revenue for the quarter was up 3184.7% compared to the same quarter last year. On average, research analysts predict that Prothena Co. plc will post -2.31 earnings per share for the current year.
About Prothena
(
Free Report)
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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