State Street Corp cut its stake in Prothena Co. plc (NASDAQ:PRTA - Free Report) by 13.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,674,909 shares of the biotechnology company's stock after selling 257,563 shares during the quarter. State Street Corp owned about 3.11% of Prothena worth $28,021,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. DCF Advisers LLC grew its holdings in Prothena by 0.5% during the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the biotechnology company's stock valued at $2,219,000 after purchasing an additional 500 shares in the last quarter. Signaturefd LLC grew its stake in shares of Prothena by 182.1% during the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Prothena by 13.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company's stock worth $211,000 after acquiring an additional 1,186 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Prothena by 2.3% in the third quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company's stock worth $2,104,000 after acquiring an additional 2,847 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Prothena by 3.8% in the third quarter. The Manufacturers Life Insurance Company now owns 86,071 shares of the biotechnology company's stock valued at $1,440,000 after purchasing an additional 3,163 shares during the last quarter. Institutional investors and hedge funds own 97.08% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on PRTA. Bank of America reduced their target price on Prothena from $26.00 to $22.00 and set a "neutral" rating for the company in a research note on Thursday. HC Wainwright reissued a "buy" rating and issued a $48.00 target price (down previously from $84.00) on shares of Prothena in a research report on Friday. StockNews.com cut shares of Prothena from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th. Chardan Capital started coverage on Prothena in a report on Friday. They issued a "buy" rating and a $40.00 price objective for the company. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Prothena in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.29.
Check Out Our Latest Analysis on Prothena
Prothena Trading Up 0.7 %
NASDAQ PRTA traded up $0.11 during trading hours on Monday, reaching $15.33. The company's stock had a trading volume of 567,893 shares, compared to its average volume of 592,226. The stock has a market cap of $824.89 million, a PE ratio of -6.18 and a beta of 0.09. The business has a 50-day simple moving average of $15.65 and a 200 day simple moving average of $19.01. Prothena Co. plc has a 52 week low of $11.70 and a 52 week high of $41.54.
Prothena (NASDAQ:PRTA - Get Free Report) last issued its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, topping the consensus estimate of ($1.18) by $0.08. The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.22 million. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The firm's revenue for the quarter was down 98.9% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. As a group, equities analysts predict that Prothena Co. plc will post -2.24 EPS 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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