Shares of Prothena Corporation PLC (NASDAQ:PRTA) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $37.94 and last traded at $40.04, with a volume of 217400 shares changing hands. The stock had previously closed at $41.01.

Several analysts have issued reports on the stock. Royal Bank of Canada reaffirmed a “buy” rating on shares of Prothena in a research report on Friday, September 29th. BTIG Research reduced their target price on Prothena from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, September 29th. Cantor Fitzgerald reiterated a “buy” rating and set a $79.00 target price on shares of Prothena in a research note on Thursday, September 28th. Jefferies Group reiterated a “buy” rating and set a $100.00 target price on shares of Prothena in a research note on Monday, October 2nd. Finally, SunTrust Banks reiterated a “buy” rating and set a $75.00 target price on shares of Prothena in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $76.75.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.41) by $0.04. Prothena had a negative return on equity of 34.40% and a negative net margin of 562.19%. The firm had revenue of $0.19 million for the quarter, compared to analysts’ expectations of $0.28 million. During the same period last year, the business posted ($1.26) earnings per share. The firm’s revenue for the quarter was down 33.6% on a year-over-year basis. research analysts expect that Prothena Corporation PLC will post -4.27 earnings per share for the current year.

In related news, insider Tara Nickerson sold 17,500 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $63.60, for a total transaction of $1,113,000.00. Following the transaction, the insider now directly owns 19,500 shares in the company, valued at $1,240,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher S. Henney sold 900 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $70.00, for a total value of $63,000.00. Following the transaction, the director now owns 900 shares in the company, valued at $63,000. The disclosure for this sale can be found here. Insiders have sold 29,424 shares of company stock worth $1,922,787 over the last 90 days. 3.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in Prothena by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 185,462 shares of the biotechnology company’s stock valued at $10,037,000 after buying an additional 13,492 shares during the last quarter. Sphera Funds Management LTD. bought a new stake in Prothena in the second quarter valued at $2,165,000. BlackRock Inc. lifted its stake in Prothena by 7.8% in the second quarter. BlackRock Inc. now owns 2,947,512 shares of the biotechnology company’s stock valued at $159,519,000 after buying an additional 213,578 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Prothena by 6.8% in the second quarter. Alliancebernstein L.P. now owns 895,759 shares of the biotechnology company’s stock valued at $48,478,000 after buying an additional 57,002 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Prothena by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 28,559 shares of the biotechnology company’s stock valued at $1,545,000 after buying an additional 2,664 shares during the last quarter.

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About Prothena

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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