Creative Planning Invests $350,000 in Prothena Co. plc (NASDAQ:PRTA)

Creative Planning purchased a new position in shares of Prothena Co. plc (NASDAQ:PRTA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,907 shares of the biotechnology company’s stock, valued at approximately $350,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC lifted its position in Prothena by 182.1% in the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 863 shares in the last quarter. Headlands Technologies LLC bought a new stake in Prothena in the 1st quarter valued at $96,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock valued at $211,000 after acquiring an additional 1,186 shares in the last quarter. Focused Wealth Management Inc lifted its position in Prothena by 7,751.9% in the 1st quarter. Focused Wealth Management Inc now owns 10,129 shares of the biotechnology company’s stock valued at $251,000 after acquiring an additional 10,000 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Prothena by 8.9% in the 1st quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after buying an additional 932 shares during the last quarter. 97.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Oppenheimer lowered their price target on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. Bank of America lowered their price objective on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Finally, HC Wainwright restated a “buy” rating and set a $84.00 price objective on shares of Prothena in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Prothena presently has an average rating of “Moderate Buy” and an average target price of $61.86.

Prothena Trading Up 1.2 %

Shares of Prothena stock opened at $17.70 on Friday. The company has a 50 day moving average of $18.65 and a 200-day moving average of $20.48. Prothena Co. plc has a 1-year low of $15.30 and a 1-year high of $41.54. The company has a market cap of $951.91 million, a PE ratio of -17.70 and a beta of 0.16.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported $1.22 EPS for the quarter, beating the consensus estimate of ($1.01) by $2.23. The business had revenue of $132.01 million during the quarter, compared to the consensus estimate of $10.73 million. Prothena had a negative net margin of 23.44% and a negative return on equity of 9.00%. The firm’s revenue was up 3184.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.03) EPS. Research analysts forecast that Prothena Co. plc will post -2.34 earnings per share for the current year.

Prothena 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.