Prothena Corporation plc $PRTA Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB raised its holdings in shares of Prothena Corporation plc (NASDAQ:PRTA) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,605 shares of the biotechnology company’s stock after buying an additional 3,618 shares during the quarter. Nordea Investment Management AB’s holdings in Prothena were worth $1,916,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Siren L.L.C. boosted its position in Prothena by 16.7% during the first quarter. Siren L.L.C. now owns 1,283,555 shares of the biotechnology company’s stock worth $15,884,000 after acquiring an additional 183,715 shares during the last quarter. Nuveen LLC purchased a new position in Prothena in the 1st quarter worth approximately $1,856,000. DCF Advisers LLC boosted its holdings in shares of Prothena by 88.4% during the 1st quarter. DCF Advisers LLC now owns 195,000 shares of the biotechnology company’s stock worth $2,413,000 after purchasing an additional 91,500 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Prothena by 1.3% during the 1st quarter. Wellington Management Group LLP now owns 5,199,528 shares of the biotechnology company’s stock worth $64,344,000 after purchasing an additional 68,652 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Prothena in the second quarter valued at approximately $256,000. 97.08% of the stock is owned by hedge funds and other institutional investors.

Prothena Trading Down 3.3%

Shares of NASDAQ:PRTA opened at $9.88 on Thursday. The company has a market capitalization of $531.84 million, a price-to-earnings ratio of -1.75 and a beta of -0.11. Prothena Corporation plc has a 12-month low of $4.32 and a 12-month high of $18.88. The business has a 50-day moving average price of $9.03 and a 200 day moving average price of $7.80.

Prothena (NASDAQ:PRTA) last announced its earnings results on Monday, August 4th. The biotechnology company reported ($1.86) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.75). Prothena had a negative return on equity of 62.17% and a negative net margin of 2,929.30%.The company had revenue of $4.42 million for the quarter, compared to analysts’ expectations of $5.36 million. As a group, equities research analysts predict that Prothena Corporation plc will post -4.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PRTA has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prothena in a research report on Wednesday, October 8th. Royal Bank Of Canada reduced their price target on Prothena from $18.00 to $10.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 5th. JMP Securities dropped their price objective on shares of Prothena from $29.00 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday, September 2nd. Piper Sandler reduced their target price on shares of Prothena from $81.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, August 28th. Finally, Chardan Capital reiterated a “buy” rating and issued a $18.00 target price on shares of Prothena in a report on Thursday, August 28th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.50.

Prothena Profile

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.