Armistice Capital LLC Increases Stock Position in Prothena Co. plc (NASDAQ:PRTA)

Armistice Capital LLC lifted its stake in Prothena Co. plc (NASDAQ:PRTA - Free Report) by 42.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,560,000 shares of the biotechnology company's stock after buying an additional 464,000 shares during the period. Armistice Capital LLC owned approximately 2.90% of Prothena worth $32,198,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Signaturefd LLC increased its holdings in shares of Prothena by 182.1% in the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company's stock worth $28,000 after buying an additional 863 shares during the period. PNC Financial Services Group Inc. increased its holdings in Prothena by 265.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company's stock valued at $56,000 after purchasing an additional 1,122 shares during the period. Headlands Technologies LLC purchased a new position in Prothena during the 1st quarter valued at about $96,000. ADAR1 Capital Management LLC purchased a new position in Prothena during the 4th quarter valued at about $222,000. Finally, Focused Wealth Management Inc increased its holdings in Prothena by 7,751.9% during the 1st quarter. Focused Wealth Management Inc now owns 10,129 shares of the biotechnology company's stock valued at $251,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 97.08% of the company's stock.

Prothena Trading Down 1.4 %

Prothena stock traded down $0.28 during trading hours on Thursday, hitting $20.14. 345,657 shares of the stock traded hands, compared to its average volume of 580,236. The firm's 50-day moving average price is $21.66 and its two-hundred day moving average price is $22.05. The company has a market cap of $1.08 billion, a PE ratio of -6.34 and a beta of 0.18. Prothena Co. plc has a one year low of $18.69 and a one year high of $55.89.

Prothena (NASDAQ:PRTA - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported $1.22 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $132.01 million for the quarter, compared to analysts' expectations of $10.73 million. During the same period in the previous year, the firm posted ($1.03) EPS. The business's revenue for the quarter was up 3184.7% compared to the same quarter last year. On average, sell-side analysts expect that Prothena Co. plc will post -2.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PRTA shares. Oppenheimer reduced their price target on Prothena from $66.00 to $62.00 and set an "outperform" rating on the stock in a report on Wednesday, August 14th. Royal Bank of Canada reduced their price target on Prothena from $28.00 to $24.00 and set a "sector perform" rating on the stock in a report on Friday, August 9th. Cantor Fitzgerald restated an "overweight" rating on shares of Prothena in a report on Monday, August 12th. Finally, StockNews.com upgraded Prothena from a "sell" rating to a "hold" rating in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $62.86.

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.