Prothena (NASDAQ:PRTA) Trading Down 9% – What’s Next?

Prothena Co. plc (NASDAQ:PRTA)’s share price was down 9% during mid-day trading on Friday . The stock traded as low as $12.84 and last traded at $12.88. Approximately 180,595 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 420,744 shares. The stock had previously closed at $14.16.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PRTA shares. Bank of America decreased their price objective on Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. HC Wainwright reiterated a “buy” rating and issued a $48.00 target price (down previously from $84.00) on shares of Prothena in a research report on Friday, December 20th. Chardan Capital initiated coverage on shares of Prothena in a research note on Friday, December 20th. They set a “buy” rating and a $40.00 target price for the company. Finally, StockNews.com downgraded shares of Prothena from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Prothena presently has a consensus rating of “Moderate Buy” and an average target price of $46.50.

Prothena Stock Down 8.7 %

The company’s 50-day simple moving average is $14.99 and its 200 day simple moving average is $18.47. The stock has a market capitalization of $695.75 million, a price-to-earnings ratio of -5.21 and a beta of 0.10.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.08. The business had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.22 million. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The firm’s revenue for the quarter was down 98.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 EPS. On average, equities analysts expect that Prothena Co. plc will post -2.24 earnings per share for the current fiscal year.

Institutional Trading of Prothena

Several large investors have recently modified their holdings of the company. Barclays PLC lifted its position in Prothena by 110.2% during the 3rd quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after acquiring an additional 49,916 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in Prothena by 4.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock valued at $293,000 after purchasing an additional 739 shares during the period. XTX Topco Ltd acquired a new stake in shares of Prothena in the third quarter worth $260,000. Wellington Management Group LLP increased its position in Prothena by 14.8% during the third quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock worth $69,911,000 after acquiring an additional 539,359 shares during the period. Finally, PDT Partners LLC raised its stake in Prothena by 7.7% during the 3rd quarter. PDT Partners LLC now owns 110,654 shares of the biotechnology company’s stock valued at $1,851,000 after purchasing an additional 7,946 shares during the last quarter. 97.08% of the stock is owned by institutional investors.

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.