Corton Capital Inc. Makes New $85,000 Investment in Prothena Corporation plc $PRTA

Corton Capital Inc. acquired a new stake in shares of Prothena Corporation plc (NASDAQ:PRTA) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 13,964 shares of the biotechnology company’s stock, valued at approximately $85,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Purkiss Capital Advisors LLC lifted its holdings in shares of Prothena by 15.1% during the 2nd quarter. Purkiss Capital Advisors LLC now owns 24,904 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 3,275 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Prothena by 1.2% during the 2nd quarter. Nordea Investment Management AB now owns 311,605 shares of the biotechnology company’s stock valued at $1,916,000 after purchasing an additional 3,618 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Prothena during the 2nd quarter valued at $256,000. Mogy Joel R Investment Counsel Inc. purchased a new stake in shares of Prothena during the 2nd quarter valued at $126,000. Finally, Siren L.L.C. lifted its holdings in shares of Prothena by 16.7% during the 1st quarter. Siren L.L.C. now owns 1,283,555 shares of the biotechnology company’s stock valued at $15,884,000 after purchasing an additional 183,715 shares during the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PRTA. JMP Securities decreased their price objective on Prothena from $29.00 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday, September 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prothena in a report on Wednesday, October 8th. Piper Sandler upped their target price on Prothena from $15.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. UBS Group set a $36.00 target price on Prothena in a research report on Tuesday, October 28th. Finally, Chardan Capital reissued a “buy” rating and issued a $18.00 target price on shares of Prothena in a research report on Thursday, August 28th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.56.

Prothena Stock Performance

Shares of PRTA opened at $10.27 on Thursday. The business’s 50-day moving average is $9.41 and its two-hundred day moving average is $7.79. The company has a market capitalization of $552.83 million, a P/E ratio of -1.82 and a beta of -0.09. Prothena Corporation plc has a fifty-two week low of $4.32 and a fifty-two week high of $18.77.

Prothena (NASDAQ:PRTA) last announced its quarterly 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). The company had revenue of $4.42 million for the quarter, compared to analyst estimates of $5.36 million. Prothena had a negative return on equity of 62.17% and a negative net margin of 2,929.30%. Analysts forecast that Prothena Corporation plc will post -4.04 EPS for the current year.

About Prothena

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.