Prothena Co. plc (NASDAQ:PRTA) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its position in shares of Prothena Co. plc (NASDAQ:PRTA - Free Report) by 22.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,130,876 shares of the biotechnology company's stock after buying an additional 952,088 shares during the period. Wellington Management Group LLP owned about 9.54% of Prothena worth $71,063,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in Prothena during the 4th quarter worth approximately $145,000. Purkiss Capital Advisors LLC purchased a new stake in Prothena during the 4th quarter valued at about $149,000. China Universal Asset Management Co. Ltd. raised its stake in Prothena by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company's stock worth $158,000 after acquiring an additional 1,065 shares during the period. Chicago Partners Investment Group LLC purchased a new position in Prothena during the fourth quarter worth $159,000. Finally, KLP Kapitalforvaltning AS bought a new position in Prothena in the fourth quarter worth about $179,000. 97.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Piper Sandler increased their price target on Prothena from $94.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Oppenheimer boosted their price objective on Prothena from $58.00 to $62.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Bank of America lowered their target price on Prothena from $26.00 to $22.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. StockNews.com upgraded Prothena from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. Finally, Royal Bank of Canada cut their price objective on shares of Prothena from $24.00 to $20.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Prothena has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

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Prothena Stock Down 4.4 %

Shares of NASDAQ PRTA traded down $0.45 during midday trading on Thursday, reaching $9.81. 124,458 shares of the company were exchanged, compared to its average volume of 495,765. The stock has a market cap of $528.15 million, a P/E ratio of -4.28 and a beta of 0.07. The stock's 50-day moving average price is $13.53 and its 200-day moving average price is $14.88. Prothena Co. plc has a one year low of $9.30 and a one year high of $25.42.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.06). The business had revenue of $2.12 million for the quarter, compared to the consensus estimate of $7.53 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. On average, equities research analysts anticipate that Prothena Co. plc will post -4.04 EPS for the current year.

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.