Prothena (NASDAQ:PRTA) Reaches New 1-Year Low - Should You Sell?

Prothena Co. plc (NASDAQ:PRTA - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $9.28 and last traded at $9.41, with a volume of 26306 shares changing hands. The stock had previously closed at $9.59.

Wall Street Analyst Weigh In

PRTA has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Prothena in a report on Friday, February 21st. Chardan Capital reaffirmed a "buy" rating and issued a $40.00 target price on shares of Prothena in a research report on Friday, February 21st. StockNews.com raised shares of Prothena from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. Piper Sandler lifted their target price on Prothena from $94.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Oppenheimer upped their target price on Prothena from $58.00 to $62.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.00.

Prothena Stock Up 1.1 %

The stock has a market cap of $500.59 million, a PE ratio of -4.04 and a beta of 0.07. The stock has a fifty day moving average of $12.89 and a 200-day moving average of $14.41.

Prothena (NASDAQ:PRTA - Get Free Report) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.06). The company had revenue of $2.12 million during the quarter, compared to analysts' expectations of $7.53 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. Equities research analysts forecast that Prothena Co. plc will post -4.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Prothena

Large investors have recently bought and sold shares of the company. Virtus ETF Advisers LLC increased its stake in shares of Prothena by 19.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock worth $71,000 after acquiring an additional 833 shares during the period. GAMMA Investing LLC increased its position in Prothena by 4,626.0% during the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock worth $74,000 after purchasing an additional 5,875 shares during the period. Headlands Technologies LLC raised its stake in shares of Prothena by 196.5% during the 4th quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company's stock worth $102,000 after buying an additional 4,858 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Prothena in the 4th quarter valued at approximately $145,000. Finally, Purkiss Capital Advisors LLC purchased a new stake in shares of Prothena in the fourth quarter valued at approximately $149,000. Hedge funds and other institutional investors own 97.08% of the company's stock.

About Prothena

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.