Prothena (NASDAQ:PRTA) Sets New 12-Month Low at $23.41

Prothena Co. plc (NASDAQ:PRTAGet Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $23.41 and last traded at $23.65, with a volume of 8928 shares trading hands. The stock had previously closed at $23.95.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PRTA shares. JMP Securities upped their price target on Prothena from $81.00 to $85.00 and gave the company a “market outperform” rating in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft started coverage on Prothena in a research report on Tuesday, December 12th. They issued a “buy” rating and a $62.00 price target on the stock. Royal Bank of Canada reduced their price target on Prothena from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. Cantor Fitzgerald reduced their price target on Prothena from $129.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of Prothena in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.63.

View Our Latest Report on PRTA

Prothena Trading Down 0.6 %

The firm has a 50-day moving average of $27.62 and a 200 day moving average of $35.10. The company has a market cap of $1.28 billion, a P/E ratio of -8.55 and a beta of 0.21.

Prothena (NASDAQ:PRTAGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.03). Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. The firm had revenue of $0.32 million for the quarter, compared to analyst estimates of $2.15 million. During the same period last year, the company posted $0.12 earnings per share. The firm’s quarterly revenue was down 99.4% compared to the same quarter last year. On average, equities analysts predict that Prothena Co. plc will post -4.87 EPS for the current year.

Insider Buying and Selling

In related news, CAO Karin L. Walker sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $34.00, for a total transaction of $170,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 28.20% of the stock is owned by company insiders.

Institutional Trading of Prothena

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in shares of Prothena by 265.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 1,122 shares in the last quarter. Vanguard Group Inc. grew its holdings in Prothena by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 1,070,555 shares of the biotechnology company’s stock valued at $38,904,000 after purchasing an additional 39,781 shares during the period. Wellington Management Group LLP grew its holdings in Prothena by 21.1% during the fourth quarter. Wellington Management Group LLP now owns 2,594,102 shares of the biotechnology company’s stock valued at $94,270,000 after purchasing an additional 452,455 shares during the period. Goldman Sachs Group Inc. grew its holdings in Prothena by 33.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 333,786 shares of the biotechnology company’s stock valued at $12,130,000 after purchasing an additional 83,463 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Prothena by 10.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company’s stock worth $153,986,000 after acquiring an additional 417,338 shares during the period. 97.08% of the stock is owned by hedge funds and other institutional investors.

Prothena Company Profile

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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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