Prothena (NASDAQ:PRTA) Stock Price Down 3.6% - Should You Sell?

Prothena Co. plc (NASDAQ:PRTA - Get Free Report)'s stock price fell 3.6% on Wednesday . The company traded as low as $13.53 and last traded at $13.53. 158,950 shares changed hands during trading, a decline of 72% from the average session volume of 574,411 shares. The stock had previously closed at $14.04.

Analyst Ratings Changes

PRTA has been the subject of several research reports. StockNews.com lowered shares of Prothena from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. Cantor Fitzgerald reissued an "overweight" rating on shares of Prothena in a report on Monday, September 30th. Bank of America lowered their target price on Prothena from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, October 1st. Finally, HC Wainwright reissued a "buy" rating and issued a $84.00 price target on shares of Prothena in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $61.83.

Prothena Stock Performance

The firm has a market capitalization of $643.02 million, a P/E ratio of -4.82 and a beta of 0.09. The business has a fifty day moving average of $15.83 and a 200-day moving average of $19.22.

Prothena (NASDAQ:PRTA - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.18) by $0.08. The company had revenue of $0.97 million during 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 quarterly revenue was down 98.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, equities research analysts forecast that Prothena Co. plc will post -2.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Signaturefd LLC boosted its stake in Prothena by 182.1% during the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 863 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Prothena by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company's stock valued at $173,000 after buying an additional 4,026 shares in the last quarter. Intech Investment Management LLC acquired a new position in Prothena during the third quarter worth about $210,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 period. Finally, XTX Topco Ltd bought a new stake in Prothena in the third quarter worth about $260,000. Institutional investors and hedge funds 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.