Prothena (NASDAQ:PRTA) Trading 6.3% Higher

Shares of Prothena Co. plc (NASDAQ:PRTAGet Free Report) were up 6.3% on Wednesday . The company traded as high as $22.06 and last traded at $21.98. Approximately 118,055 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 721,642 shares. The stock had previously closed at $20.68.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research note on Wednesday, April 10th. JMP Securities dropped their target price on shares of Prothena from $85.00 to $83.00 and set a “market outperform” rating for the company in a report on Thursday, May 9th. HC Wainwright decreased their price target on shares of Prothena from $90.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. StockNews.com cut shares of Prothena from a “hold” rating to a “sell” rating in a research report on Monday, February 19th. Finally, Oppenheimer cut their target price on shares of Prothena from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Get Our Latest Analysis on Prothena

Prothena Stock Performance

The firm has a market cap of $1.20 billion, a P/E ratio of -6.76 and a beta of 0.30. The business’s fifty day moving average is $23.74 and its 200-day moving average is $29.95.

Prothena (NASDAQ:PRTAGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.21) by ($0.13). Prothena had a negative net margin of 193.17% and a negative return on equity of 30.48%. The business had revenue of $0.05 million for the quarter, compared to the consensus estimate of $3.75 million. During the same period in the previous year, the business posted ($0.89) EPS. Analysts predict that Prothena Co. plc will post -4.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PRTA. Raymond James & Associates lifted its stake in shares of Prothena by 98.4% in the third quarter. Raymond James & Associates now owns 8,167 shares of the biotechnology company’s stock worth $394,000 after acquiring an additional 4,050 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Prothena by 12.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,464 shares of the biotechnology company’s stock valued at $360,000 after purchasing an additional 797 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Prothena by 14.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,652 shares of the biotechnology company’s stock worth $1,238,000 after buying an additional 3,222 shares during the period. TD Asset Management Inc raised its stake in Prothena by 93.1% during the third quarter. TD Asset Management Inc now owns 172,682 shares of the biotechnology company’s stock worth $8,332,000 after buying an additional 83,269 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Prothena by 58.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,096 shares of the biotechnology company’s stock valued at $149,000 after buying an additional 1,140 shares during the period. 97.08% of the stock is owned by institutional investors and hedge funds.

About Prothena

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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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