Systematic Financial Management LP reduced its stake in shares of Prothena Co. plc (NASDAQ:PRTA - Free Report) by 95.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 8,125 shares of the biotechnology company's stock after selling 185,638 shares during the period. Systematic Financial Management LP's holdings in Prothena were worth $136,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of PRTA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Prothena by 1,122.9% during the third 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 in the last quarter. Armistice Capital LLC increased its stake in Prothena by 42.3% in the 2nd quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company's stock valued at $32,198,000 after buying an additional 464,000 shares during the last quarter. Vanguard Group Inc. increased its stake in Prothena by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company's stock valued at $27,873,000 after buying an additional 54,728 shares during the last quarter. Duncan Williams Asset Management LLC purchased a new position in shares of Prothena in the 3rd quarter worth approximately $816,000. Finally, Federated Hermes Inc. bought a new position in shares of Prothena in the second quarter valued at approximately $905,000. 97.08% of the stock is owned by hedge funds and other institutional investors.
Prothena Trading Up 0.9 %
Shares of PRTA stock traded up $0.12 during trading on Friday, reaching $14.05. 259,188 shares of the company's stock traded hands, compared to its average volume of 450,329. Prothena Co. plc has a 1 year low of $13.22 and a 1 year high of $41.54. The firm's 50-day moving average is $16.25 and its 200 day moving average is $19.56. The company has a market capitalization of $756.02 million, a P/E ratio of -5.67 and a beta of 0.09.
Prothena (NASDAQ:PRTA - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.18) by $0.08. The company 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 was down 98.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, sell-side analysts predict that Prothena Co. plc will post -2.24 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts recently commented on PRTA shares. HC Wainwright reiterated a "buy" rating and set a $84.00 price target on shares of Prothena in a report on Wednesday, November 13th. Royal Bank of Canada lowered their target price on Prothena from $28.00 to $24.00 and set a "sector perform" rating on the stock in a research note on Friday, August 9th. Cantor Fitzgerald restated an "overweight" rating on shares of Prothena in a research report on Monday, September 30th. StockNews.com lowered shares of Prothena from a "hold" rating to a "sell" rating in a research note on Tuesday, November 19th. Finally, Bank of America dropped their price objective on Prothena from $33.00 to $31.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.86.
Read Our Latest Stock Report on PRTA
Prothena Profile
(
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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