Prothena Co. plc (NASDAQ:PRTA) Position Trimmed by State Street Corp

State Street Corp lessened its holdings in shares of Prothena Co. plc (NASDAQ:PRTA) by 13.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,674,909 shares of the biotechnology company’s stock after selling 257,563 shares during the period. State Street Corp owned 3.11% of Prothena worth $28,021,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in Prothena by 13.4% in the second quarter. Bank of New York Mellon Corp now owns 165,423 shares of the biotechnology company’s stock worth $3,414,000 after buying an additional 19,578 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after acquiring an additional 1,186 shares during the period. 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 purchasing an additional 863 shares during the last quarter. Focused Wealth Management Inc boosted its stake in Prothena by 98.7% during the 2nd quarter. Focused Wealth Management Inc now owns 20,129 shares of the biotechnology company’s stock valued at $415,000 after purchasing an additional 10,000 shares during the period. Finally, Rhumbline Advisers grew its position in Prothena by 9.9% in the 2nd quarter. Rhumbline Advisers now owns 69,756 shares of the biotechnology company’s stock worth $1,440,000 after purchasing an additional 6,256 shares during the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

Prothena Stock Down 4.9 %

NASDAQ:PRTA opened at $15.22 on Monday. The business’s 50-day moving average price is $15.69 and its 200 day moving average price is $19.07. Prothena Co. plc has a 52-week low of $11.70 and a 52-week high of $41.54. The firm has a market cap of $818.97 million, a P/E ratio of -6.14 and a beta of 0.09.

Prothena (NASDAQ:PRTA) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.08. The business had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.22 million. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The business’s revenue for the quarter was down 98.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. Sell-side analysts expect that Prothena Co. plc will post -2.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PRTA shares. StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. Bank of America lowered their price target on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday. Chardan Capital assumed coverage on shares of Prothena in a report on Friday. They issued a “buy” rating and a $40.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $48.00 target price (down previously from $84.00) on shares of Prothena in a research note on Friday. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.29.

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.