Prothena (NASDAQ:PRTA) Sets New 12-Month Low – Here’s What Happened

Prothena Co. plc (NASDAQ:PRTA)’s share price reached a new 52-week low on Friday . The company traded as low as $15.30 and last traded at $15.30, with a volume of 322995 shares traded. The stock had previously closed at $16.27.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PRTA shares. Royal Bank of Canada reduced their price objective on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. HC Wainwright reaffirmed a “buy” rating and set a $84.00 target price on shares of Prothena in a research report on Tuesday, October 1st. StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Finally, Bank of America reduced their target price on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.86.

Prothena Stock Down 6.0 %

The stock’s 50 day moving average price is $19.58 and its 200-day moving average price is $20.85. The stock has a market capitalization of $822.83 million, a P/E ratio of -15.71 and a beta of 0.17.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.01) by $2.23. Prothena had a negative net margin of 23.44% and a negative return on equity of 9.00%. The firm had revenue of $132.01 million for the quarter, compared to the consensus estimate of $10.73 million. During the same period last year, the firm earned ($1.03) earnings per share. The company’s quarterly revenue was up 3184.7% on a year-over-year basis. Analysts anticipate that Prothena Co. plc will post -2.34 earnings per share for the current year.

Hedge Funds Weigh In On Prothena

A number of hedge funds and other institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. boosted its stake in shares of Prothena by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 4,026 shares in the last quarter. Creative Planning acquired a new stake in Prothena in the third quarter valued at approximately $350,000. Duncan Williams Asset Management LLC acquired a new stake in Prothena in the third quarter valued at approximately $816,000. Systematic Financial Management LP boosted its stake in Prothena by 25.8% in the second quarter. Systematic Financial Management LP now owns 193,763 shares of the biotechnology company’s stock valued at $3,999,000 after acquiring an additional 39,771 shares in the last quarter. Finally, Algert Global LLC boosted its stake in Prothena by 59.7% in the second quarter. Algert Global LLC now owns 77,191 shares of the biotechnology company’s stock valued at $1,593,000 after acquiring an additional 28,841 shares in the last quarter. 97.08% of the stock is currently owned by institutional investors.

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.