Prothena (NASDAQ:PRTA) Stock Price Down 7.2% – Time to Sell?

Prothena Co. plc (NASDAQ:PRTA)’s share price traded down 7.2% during mid-day trading on Monday . The company traded as low as $11.90 and last traded at $12.20. 92,748 shares were traded during trading, a decline of 81% from the average session volume of 489,183 shares. The stock had previously closed at $13.14.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PRTA shares. 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. Chardan Capital restated a “buy” rating and issued a $40.00 price target on shares of Prothena in a research note on Friday, February 21st. Oppenheimer raised their target price on Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 7th. StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Finally, Royal Bank of Canada reduced their price objective on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Prothena currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Prothena Trading Down 5.8 %

The stock’s 50 day moving average price is $14.32 and its two-hundred day moving average price is $15.53. The firm has a market capitalization of $666.38 million, a PE ratio of -5.39 and a beta of -0.02.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). The company had revenue of $2.12 million during 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%. Analysts expect that Prothena Co. plc will post -4.04 earnings per share for the current year.

Hedge Funds Weigh In On Prothena

Several institutional investors and hedge funds have recently modified their holdings of PRTA. Wellington Management Group LLP grew its stake in Prothena by 22.8% in the 4th quarter. Wellington Management Group LLP now owns 5,130,876 shares of the biotechnology company’s stock worth $71,063,000 after acquiring an additional 952,088 shares during the period. Boxer Capital Management LLC purchased a new stake in shares of Prothena in the fourth quarter valued at $9,556,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 purchasing an additional 483,673 shares during the last quarter. Federated Hermes Inc. increased its stake in Prothena by 84.3% in the fourth quarter. Federated Hermes Inc. now owns 746,177 shares of the biotechnology company’s stock valued at $10,335,000 after purchasing an additional 341,274 shares during the last quarter. Finally, Finepoint Capital LP lifted its position in Prothena by 51.6% during the fourth quarter. Finepoint Capital LP now owns 657,071 shares of the biotechnology company’s stock worth $9,100,000 after buying an additional 223,600 shares during the period. Hedge funds and other institutional investors 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.