Federated Hermes Inc. Acquires Shares of 43,861 Prothena Co. plc (NASDAQ:PRTA)

Federated Hermes Inc. bought a new stake in Prothena Co. plc (NASDAQ:PRTA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 43,861 shares of the biotechnology company’s stock, valued at approximately $905,000. Federated Hermes Inc. owned about 0.08% of Prothena at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PRTA. Artal Group S.A. grew its position in Prothena by 99.7% in the 1st quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company’s stock valued at $24,804,000 after buying an additional 500,000 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Prothena by 21.1% during the fourth quarter. Wellington Management Group LLP now owns 2,594,102 shares of the biotechnology company’s stock worth $94,270,000 after acquiring an additional 452,455 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Prothena by 10.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company’s stock worth $153,986,000 after purchasing an additional 417,338 shares in the last quarter. Armistice Capital LLC purchased a new position in Prothena during the fourth quarter worth about $10,103,000. Finally, Granahan Investment Management LLC lifted its position in Prothena by 19.9% in the fourth quarter. Granahan Investment Management LLC now owns 417,157 shares of the biotechnology company’s stock valued at $15,159,000 after purchasing an additional 69,092 shares during the period. Institutional investors and hedge funds own 97.08% of the company’s stock.

Prothena Stock Down 0.2 %

Prothena stock opened at $21.61 on Friday. The firm has a market capitalization of $1.16 billion, a PE ratio of -6.65 and a beta of 0.18. Prothena Co. plc has a 52 week low of $18.69 and a 52 week high of $55.89. The firm’s 50-day simple moving average is $21.78 and its 200 day simple moving average is $22.22.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported $1.22 EPS for the quarter, beating the consensus estimate of ($1.01) by $2.23. Prothena had a negative net margin of 23.44% and a negative return on equity of 9.00%. The business had revenue of $132.01 million for the quarter, compared to analyst estimates of $10.73 million. During the same period in the prior year, the business earned ($1.03) earnings per share. The company’s quarterly revenue was up 3184.7% on a year-over-year basis. On average, research analysts expect that Prothena Co. plc will post -2.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PRTA. Royal Bank of Canada cut their target price on Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a report on Monday, August 12th. StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Finally, Oppenheimer cut their price target on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.86.

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.