Prothena (NASDAQ:PRTA) Reaches New 1-Year Low – Here’s What Happened

Prothena Co. plc (NASDAQ:PRTA) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $10.00 and last traded at $10.37, with a volume of 76017 shares trading hands. The stock had previously closed at $10.86.

Analyst Ratings Changes

A number of research analysts recently commented on PRTA shares. Royal Bank of Canada cut their target price on Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Chardan Capital reissued a “buy” rating and set a $40.00 price target on shares of Prothena in a research note on Friday, February 21st. HC Wainwright restated a “buy” rating and issued a $48.00 price objective on shares of Prothena in a research report on Friday, February 21st. Oppenheimer increased their price objective on Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Prothena Stock Performance

The firm has a market cap of $563.30 million, a price-to-earnings ratio of -4.58 and a beta of 0.07. The stock has a 50-day moving average of $14.02 and a 200-day moving average of $15.18.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC boosted its position in Prothena by 4.4% during the third quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock worth $293,000 after purchasing an additional 739 shares during the period. Virtus ETF Advisers LLC grew its stake in Prothena by 19.3% in the 4th 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. China Universal Asset Management Co. Ltd. raised its holdings in Prothena by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock valued at $158,000 after acquiring an additional 1,065 shares during the period. Rhumbline Advisers lifted its position in Prothena by 1.8% during the fourth quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock worth $930,000 after acquiring an additional 1,175 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Prothena by 6.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,269 shares of the biotechnology company’s stock valued at $381,000 after purchasing an additional 1,551 shares during the last quarter. 97.08% of the stock is 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.