Prothena Co. plc (NASDAQ:PRTA) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Prothena Co. plc (NASDAQ:PRTA) by 25.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,840 shares of the biotechnology company’s stock after selling 30,652 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of Prothena worth $1,272,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PRTA. Wellington Management Group LLP lifted its stake in Prothena by 14.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock valued at $69,911,000 after buying an additional 539,359 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Prothena by 1,122.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company’s stock valued at $8,812,000 after acquiring an additional 483,673 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Prothena during the fourth quarter valued at $724,000. Barclays PLC increased 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 purchasing an additional 49,916 shares in the last quarter. Finally, Focused Wealth Management Inc acquired a new position in Prothena in the 4th quarter valued at about $445,000. 97.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Prothena Price Performance

Prothena stock opened at $12.88 on Thursday. The company has a market cap of $693.29 million, a price-to-earnings ratio of -5.60 and a beta of -0.02. Prothena Co. plc has a 12 month low of $11.70 and a 12 month high of $26.45. The stock’s 50-day moving average is $14.35 and its 200-day moving average is $15.96.

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

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.