Prothena (NASDAQ:PRTA) Hits New 12-Month Low – Here’s Why

Shares of Prothena Co. plc (NASDAQ:PRTA) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $11.70 and last traded at $12.16, with a volume of 40650 shares. The stock had previously closed at $12.38.

Analyst Upgrades and Downgrades

PRTA has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating and set a $48.00 price objective on shares of Prothena in a research report on Friday, February 21st. Chardan Capital reiterated a “buy” rating and set a $40.00 price target on shares of Prothena in a research report on Friday, February 21st. Royal Bank of Canada lowered their price objective on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Piper Sandler increased their target price on shares of Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, StockNews.com raised Prothena from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Prothena Price Performance

The firm’s 50 day moving average price is $14.20 and its 200 day moving average price is $15.38. The stock has a market capitalization of $653.46 million, a P/E ratio of -5.28 and a beta of -0.02.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). The business had revenue of $2.12 million for the quarter, compared to analysts’ expectations of $7.53 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. On average, equities research analysts forecast that Prothena Co. plc will post -4.04 earnings per share for the current year.

Institutional Trading of Prothena

Several large investors have recently added to or reduced their stakes in PRTA. Wellington Management Group LLP boosted its stake in shares of Prothena by 22.8% during the 4th quarter. Wellington Management Group LLP now owns 5,130,876 shares of the biotechnology company’s stock valued at $71,063,000 after purchasing an additional 952,088 shares in the last quarter. Two Sigma Investments LP boosted its position in Prothena by 265.4% during the 4th quarter. Two Sigma Investments LP now owns 38,394 shares of the biotechnology company’s stock valued at $532,000 after acquiring an additional 27,887 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in shares of Prothena by 24.8% during the 4th quarter. Rafferty Asset Management LLC now owns 77,672 shares of the biotechnology company’s stock worth $1,076,000 after acquiring an additional 15,442 shares during the period. ProShare Advisors LLC raised its position in shares of Prothena by 29.5% in the 4th quarter. ProShare Advisors LLC now owns 14,524 shares of the biotechnology company’s stock worth $201,000 after acquiring an additional 3,312 shares in the last quarter. Finally, Man Group plc lifted its stake in shares of Prothena by 90.7% in the 4th quarter. Man Group plc now owns 77,430 shares of the biotechnology company’s stock valued at $1,072,000 after purchasing an additional 36,824 shares during the period. Institutional investors own 97.08% of the company’s stock.

Prothena Company 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.