Connor Clark & Lunn Investment Management Ltd. Increases Stake in Prothena Co. plc (NASDAQ:PRTA)

Connor Clark & Lunn Investment Management Ltd. grew its stake in Prothena Co. plc (NASDAQ:PRTA) by 8.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,492 shares of the biotechnology company’s stock after purchasing an additional 9,666 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.23% of Prothena worth $2,049,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PRTA. Vanguard Group Inc. grew its position in Prothena by 5.1% during the first 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 period. Artal Group S.A. grew its position in shares of Prothena by 99.7% during the 1st quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company’s stock valued at $24,804,000 after acquiring an additional 500,000 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of Prothena by 26.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 14,039 shares of the biotechnology company’s stock valued at $348,000 after purchasing an additional 2,895 shares in the last quarter. SG Americas Securities LLC raised its holdings in Prothena by 226.4% in the 2nd quarter. SG Americas Securities LLC now owns 54,572 shares of the biotechnology company’s stock worth $1,126,000 after purchasing an additional 37,852 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Prothena by 13.4% during the second quarter. Bank of New York Mellon Corp now owns 165,423 shares of the biotechnology company’s stock worth $3,414,000 after purchasing an additional 19,578 shares in the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

Prothena Trading Up 3.3 %

Shares of NASDAQ:PRTA opened at $15.08 on Tuesday. The company has a market capitalization of $811.44 million, a price-to-earnings ratio of -6.08 and a beta of 0.16. The business has a 50-day moving average price of $17.51 and a 200 day moving average price of $20.02. Prothena Co. plc has a 12-month low of $13.22 and a 12-month high of $41.54.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.08. The business had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.22 million. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The business’s revenue was down 98.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. As a group, equities research analysts predict that Prothena Co. plc will post -2.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PRTA. StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. Oppenheimer dropped their price objective on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Royal Bank of Canada decreased their target price on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. Finally, Bank of America cut their price target on Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.86.

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.