Systematic Financial Management LP Raises Stock Holdings in Prothena Co. plc (NASDAQ:PRTA)

Systematic Financial Management LP increased its holdings in shares of Prothena Co. plc (NASDAQ:PRTA - Free Report) by 25.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 193,763 shares of the biotechnology company's stock after purchasing an additional 39,771 shares during the period. Systematic Financial Management LP owned approximately 0.36% of Prothena worth $3,999,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC grew its stake in Prothena by 182.1% during the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 863 shares during the period. PNC Financial Services Group Inc. grew its stake in Prothena by 265.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company's stock worth $56,000 after purchasing an additional 1,122 shares during the period. Headlands Technologies LLC acquired a new stake in Prothena during the first quarter worth approximately $96,000. ADAR1 Capital Management LLC acquired a new stake in Prothena during the fourth quarter worth approximately $222,000. Finally, Focused Wealth Management Inc grew its stake in Prothena by 7,751.9% during the first quarter. Focused Wealth Management Inc now owns 10,129 shares of the biotechnology company's stock worth $251,000 after purchasing an additional 10,000 shares during the period. Institutional investors and hedge funds own 97.08% of the company's stock.

Prothena Price Performance

Shares of PRTA stock traded down $3.32 during trading hours on Monday, reaching $16.73. The company had a trading volume of 3,092,886 shares, compared to its average volume of 592,550. Prothena Co. plc has a 12 month low of $15.52 and a 12 month high of $55.89. The business has a fifty day simple moving average of $21.52 and a 200-day simple moving average of $21.89. The company has a market cap of $899.61 million, a price-to-earnings ratio of -5.34 and a beta of 0.18.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share for the quarter, beating 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 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 earned ($1.03) earnings per share. The company's revenue for the quarter was up 3184.7% on a year-over-year basis. On average, equities research analysts expect that Prothena Co. plc will post -2.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PRTA shares. StockNews.com upgraded Prothena from a "sell" rating to a "hold" rating in a report on Monday, August 12th. Royal Bank of Canada cut 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. Oppenheimer cut 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Prothena in a report on Monday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.