Prothena (NASDAQ:PRTA) Trading Down 5.9% – Here’s Why

Prothena Co. plc (NASDAQ:PRTA) shares fell 5.9% on Monday . The stock traded as low as $15.24 and last traded at $15.25. 254,864 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 576,147 shares. The stock had previously closed at $16.21.

Analysts Set New Price Targets

PRTA has been the topic of several research reports. Oppenheimer cut their price objective on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. HC Wainwright restated a “buy” rating and set a $84.00 price objective on shares of Prothena in a research note on Wednesday, November 13th. StockNews.com downgraded shares of Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Bank of America lowered their price target on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Finally, Royal Bank of Canada reduced their price objective on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.86.

Prothena Price Performance

The stock has a market capitalization of $807.15 million, a PE ratio of -6.54 and a beta of 0.16. The business’s fifty day moving average price is $16.91 and its two-hundred day moving average price is $19.81.

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

Institutional Trading of Prothena

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC raised its stake 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 during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Prothena by 4.4% during the third quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock worth $293,000 after acquiring an additional 739 shares during the period. XTX Topco Ltd purchased a new position in Prothena during the third quarter valued at approximately $260,000. Wellington Management Group LLP lifted its holdings in Prothena by 14.8% in the third quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock valued at $69,911,000 after acquiring an additional 539,359 shares during the period. Finally, PDT Partners LLC boosted its position in Prothena by 7.7% in the 3rd quarter. PDT Partners LLC now owns 110,654 shares of the biotechnology company’s stock worth $1,851,000 after purchasing an additional 7,946 shares in the last quarter. 97.08% of the stock is currently owned by institutional investors and hedge funds.

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.