Prothena (NASDAQ:PRTA) Stock Price Down 7.2% - Should You Sell?

Prothena Co. plc (NASDAQ:PRTA - Get Free Report)'s stock price traded down 7.2% on Monday . The stock traded as low as $11.90 and last traded at $12.20. 92,748 shares traded hands during trading, a decline of 81% from the average session volume of 489,183 shares. The stock had previously closed at $13.14.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PRTA. Chardan Capital reissued a "buy" rating and issued a $40.00 price objective on shares of Prothena in a research note on Friday, February 21st. HC Wainwright reiterated a "buy" rating and issued a $48.00 price target on shares of Prothena in a research note on Friday, February 21st. StockNews.com upgraded Prothena from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. Piper Sandler increased 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, Bank of America decreased 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.00.

Prothena Price Performance

The stock has a market cap of $584.56 million, a PE ratio of -4.72 and a beta of -0.02. The stock has a 50-day moving average price of $14.11 and a two-hundred day moving average price of $15.35.

Prothena (NASDAQ:PRTA - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.06). The firm had revenue of $2.12 million during 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%. Equities research analysts expect that Prothena Co. plc will post -4.04 earnings per share for the current year.

Hedge Funds Weigh In On Prothena

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC raised its position in shares of Prothena by 110.2% during the 3rd quarter. Barclays PLC now owns 95,222 shares of the biotechnology company's stock valued at $1,592,000 after buying an additional 49,916 shares in the last quarter. SG Americas Securities LLC raised its position in Prothena by 167.0% during the fourth quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company's stock valued at $521,000 after purchasing an additional 23,525 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Prothena by 1,122.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company's stock valued at $8,812,000 after purchasing an additional 483,673 shares during the last quarter. Duncan Williams Asset Management LLC lifted its stake in shares of Prothena by 41.9% in the 4th quarter. Duncan Williams Asset Management LLC now owns 69,199 shares of the biotechnology company's stock valued at $958,000 after purchasing an additional 20,450 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Prothena by 1.8% in the 4th quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company's stock worth $930,000 after purchasing an additional 1,175 shares during the period. 97.08% of the stock is owned by hedge funds and other institutional investors.

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.