Vanguard Group Inc. Purchases 144,737 Shares of Prothena Co. plc (NASDAQ:PRTA)

Vanguard Group Inc. increased its position in shares of Prothena Co. plc (NASDAQ:PRTA - Free Report) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,403,838 shares of the biotechnology company's stock after buying an additional 144,737 shares during the quarter. Vanguard Group Inc. owned about 2.61% of Prothena worth $19,443,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Prothena during the fourth quarter worth about $724,000. Barclays PLC boosted its stake in 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 purchasing an additional 49,916 shares during the last quarter. Focused Wealth Management Inc bought a new stake in Prothena during the 4th quarter worth approximately $445,000. SG Americas Securities LLC raised its stake in shares of Prothena by 167.0% in the fourth quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company's stock worth $521,000 after purchasing an additional 23,525 shares during the last quarter. Finally, Duncan Williams Asset Management LLC lifted its holdings in shares of Prothena by 41.9% in the fourth 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 in the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com raised Prothena from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. Oppenheimer increased their target price on shares of Prothena from $58.00 to $62.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. HC Wainwright reissued a "buy" rating and issued a $48.00 price target on shares of Prothena in a research report on Friday, February 21st. Piper Sandler lifted their price objective on shares of Prothena from $94.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their target price on Prothena from $24.00 to $20.00 and set a "sector perform" rating on the stock in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Prothena currently has a consensus rating of "Moderate Buy" and an average price target of $55.00.

Prothena Stock Up 2.6 %

NASDAQ:PRTA traded up $0.24 during trading hours on Tuesday, hitting $9.54. 1,078,697 shares of the company's stock traded hands, compared to its average volume of 498,348. Prothena Co. plc has a 52 week low of $9.00 and a 52 week high of $25.42. The business's fifty day simple moving average is $12.71 and its two-hundred day simple moving average is $14.32. The firm has a market cap of $513.51 million, a P/E ratio of -4.15 and a beta of 0.07.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its quarterly earnings data 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). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The company had revenue of $2.12 million during the quarter, compared to the consensus estimate of $7.53 million. On average, analysts expect that Prothena Co. plc will post -4.04 EPS for the current year.

Prothena Company 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.