Profund Advisors LLC Sells 28,805 Shares of Prothena Co. plc (NASDAQ:PRTA)

Profund Advisors LLC trimmed its stake in Prothena Co. plc (NASDAQ:PRTA - Free Report) by 61.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,073 shares of the biotechnology company's stock after selling 28,805 shares during the quarter. Profund Advisors LLC's holdings in Prothena were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Artal Group S.A. increased its holdings in Prothena by 99.7% during the 1st quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company's stock worth $24,804,000 after acquiring an additional 500,000 shares during the period. Wellington Management Group LLP increased its stake in Prothena by 21.1% in the 4th quarter. Wellington Management Group LLP now owns 2,594,102 shares of the biotechnology company's stock worth $94,270,000 after acquiring an additional 452,455 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Prothena by 10.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company's stock valued at $153,986,000 after acquiring an additional 417,338 shares in the last quarter. Armistice Capital LLC bought a new stake in shares of Prothena during the 4th quarter valued at about $10,103,000. Finally, Granahan Investment Management LLC boosted its position in shares of Prothena by 19.9% during the 4th quarter. Granahan Investment Management LLC now owns 417,157 shares of the biotechnology company's stock valued at $15,159,000 after acquiring an additional 69,092 shares during the last quarter. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

Prothena Stock Down 0.4 %

PRTA traded down $0.09 during mid-day trading on Friday, reaching $20.05. 382,761 shares of the company traded hands, compared to its average volume of 579,179. Prothena Co. plc has a 52-week low of $18.69 and a 52-week high of $55.89. The stock has a market capitalization of $1.08 billion, a P/E ratio of -6.20 and a beta of 0.18. The company's fifty day moving average price is $21.59 and its 200-day moving average price is $22.04.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported $1.22 EPS for the quarter, topping the consensus estimate of ($1.01) by $2.23. The firm had revenue of $132.01 million for the quarter, compared to the consensus estimate of $10.73 million. Prothena had a negative return on equity of 9.00% and a negative net margin of 23.44%. The business's revenue for the quarter was up 3184.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.03) earnings per share. As a group, sell-side analysts forecast that Prothena Co. plc will post -2.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Prothena 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.