Prothena Corporation plc $PRTA Stake Lessened by Prosight Management LP

Prosight Management LP lessened its stake in shares of Prothena Corporation plc (NASDAQ:PRTA) by 92.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the biotechnology company’s stock after selling 247,800 shares during the quarter. Prosight Management LP’s holdings in Prothena were worth $195,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new stake in Prothena in the third quarter worth approximately $6,386,000. UBS Group AG increased its position in shares of Prothena by 560.8% during the 3rd quarter. UBS Group AG now owns 400,847 shares of the biotechnology company’s stock valued at $3,912,000 after purchasing an additional 340,183 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Prothena by 386.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 228,010 shares of the biotechnology company’s stock worth $2,225,000 after buying an additional 181,166 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Prothena by 9.1% in the 3rd quarter. Franklin Resources Inc. now owns 61,172 shares of the biotechnology company’s stock worth $597,000 after buying an additional 5,094 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Prothena by 32.8% in the third quarter. Russell Investments Group Ltd. now owns 127,757 shares of the biotechnology company’s stock valued at $1,247,000 after buying an additional 31,561 shares during the period. Institutional investors own 97.08% of the company’s stock.

Prothena Stock Down 1.1%

PRTA opened at $9.21 on Friday. The firm has a market cap of $495.80 million, a PE ratio of -2.03, a P/E/G ratio of 0.62 and a beta of -0.24. The business has a fifty day simple moving average of $9.19 and a 200-day simple moving average of $9.52. Prothena Corporation plc has a fifty-two week low of $4.32 and a fifty-two week high of $14.34.

Prothena (NASDAQ:PRTA) last announced its earnings results on Thursday, February 19th. The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.01. Prothena had a negative return on equity of 65.89% and a negative net margin of 2,520.57%.The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.67 million. On average, equities research analysts anticipate that Prothena Corporation plc will post -4.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on PRTA shares. Chardan Capital raised Prothena to a “strong-buy” rating in a research note on Wednesday, November 19th. Royal Bank Of Canada boosted their price target on shares of Prothena from $11.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Deutsche Bank Aktiengesellschaft set a $19.00 price target on shares of Prothena in a report on Monday, December 1st. Citigroup reaffirmed a “market outperform” rating on shares of Prothena in a research note on Friday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Prothena in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.67.

About Prothena

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.