Pinnacle Associates Ltd. reduced its position in Prothena Corporation PLC (NASDAQ:PRTA) by 4.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 369,333 shares of the biotechnology company’s stock after selling 18,250 shares during the period. Pinnacle Associates Ltd. owned about 0.97% of Prothena Corporation PLC worth $19,988,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Prothena Corporation PLC by 95,458.7% in the first quarter. BlackRock Inc. now owns 2,733,934 shares of the biotechnology company’s stock worth $152,526,000 after buying an additional 2,731,073 shares in the last quarter. Woodford Investment Management Ltd raised its stake in shares of Prothena Corporation PLC by 7.7% in the first quarter. Woodford Investment Management Ltd now owns 11,106,211 shares of the biotechnology company’s stock worth $619,282,000 after buying an additional 795,700 shares in the last quarter. FMR LLC raised its stake in shares of Prothena Corporation PLC by 9.4% in the first quarter. FMR LLC now owns 5,659,308 shares of the biotechnology company’s stock worth $315,733,000 after buying an additional 486,044 shares in the last quarter. Redmile Group LLC raised its stake in shares of Prothena Corporation PLC by 29.9% in the first quarter. Redmile Group LLC now owns 849,483 shares of the biotechnology company’s stock worth $47,393,000 after buying an additional 195,758 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Prothena Corporation PLC by 4.6% in the first quarter. Wellington Management Group LLP now owns 3,158,012 shares of the biotechnology company’s stock worth $176,185,000 after buying an additional 138,979 shares in the last quarter.

Prothena Corporation PLC (PRTA) opened at 62.10 on Friday. Prothena Corporation PLC has a 1-year low of $40.58 and a 1-year high of $69.53. The firm’s market cap is $2.38 billion. The firm’s 50-day moving average price is $60.44 and its 200-day moving average price is $55.73.

Prothena Corporation PLC (NASDAQ:PRTA) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.43. The company had revenue of $26.81 million during the quarter, compared to the consensus estimate of $16.08 million. Prothena Corporation PLC had a negative return on equity of 33.20% and a negative net margin of 527.56%. Prothena Corporation PLC’s revenue was up 7951.1% compared to the same quarter last year. During the same quarter last year, the business posted ($1.18) earnings per share. On average, equities research analysts anticipate that Prothena Corporation PLC will post ($4.52) earnings per share for the current year.

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A number of analysts have recently issued reports on PRTA shares. BidaskClub raised Prothena Corporation PLC from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Jefferies Group LLC started coverage on Prothena Corporation PLC in a research note on Monday, July 10th. They issued a “buy” rating and a $100.00 price target on the stock. ValuEngine raised Prothena Corporation PLC from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Oppenheimer Holdings, Inc. set a $70.00 price target on Prothena Corporation PLC and gave the stock a “buy” rating in a research note on Thursday, May 11th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Prothena Corporation PLC in a research note on Tuesday, May 16th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $77.58.

In other Prothena Corporation PLC news, Director Dennis J. Selkoe sold 3,500 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $58.11, for a total transaction of $203,385.00. Following the completion of the transaction, the director now owns 6,345 shares of the company’s stock, valued at $368,707.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karin L. Walker sold 5,000 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $64.89, for a total value of $324,450.00. Following the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $324,450. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Prothena Corporation PLC Company Profile

Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).

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Institutional Ownership by Quarter for Prothena Corporation PLC (NASDAQ:PRTA)

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