Prothena (NASDAQ:PRTA) Stock Price Down 8.1% – Here’s Why

Prothena Co. plc (NASDAQ:PRTA) shares dropped 8.1% during trading on Tuesday . The company traded as low as $13.68 and last traded at $13.42. Approximately 316,550 shares changed hands during trading, a decline of 19% from the average daily volume of 388,566 shares. The stock had previously closed at $14.60.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank of Canada cut their price target on Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. StockNews.com raised Prothena from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. HC Wainwright reissued a “buy” rating and set a $48.00 price objective on shares of Prothena in a research note on Friday, February 21st. Piper Sandler upped their target price on shares of Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Oppenheimer lifted their price target on shares of Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

Prothena Stock Up 1.5 %

The stock has a fifty day moving average of $14.39 and a 200-day moving average of $16.24. The firm has a market capitalization of $757.35 million, a P/E ratio of -6.12 and a beta of -0.02.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($1.08) 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 analyst estimates of $7.53 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. Sell-side analysts predict that Prothena Co. plc will post -4.04 EPS for the current fiscal year.

Institutional Trading of Prothena

Large investors have recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC lifted its position in shares of Prothena by 19.3% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 833 shares during the last quarter. Headlands Technologies LLC grew its stake in Prothena by 196.5% during the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock worth $102,000 after buying an additional 4,858 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Prothena in the fourth quarter valued at approximately $145,000. Purkiss Capital Advisors LLC acquired a new position in shares of Prothena during the 4th quarter worth $149,000. Finally, Chicago Partners Investment Group LLC acquired a new position in Prothena during the fourth quarter worth about $159,000. Institutional investors and hedge funds 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.