Prothena Co. plc (NASDAQ:PRTA) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its position in shares of Prothena Co. plc (NASDAQ:PRTA) by 3.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 963,479 shares of the biotechnology company’s stock after selling 30,799 shares during the quarter. Geode Capital Management LLC owned 1.79% of Prothena worth $16,122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Barclays PLC increased its position in shares of Prothena by 110.2% during the third quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after acquiring an additional 49,916 shares during the period. Armistice Capital LLC boosted its position in shares of Prothena by 42.3% during the 2nd quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company’s stock worth $32,198,000 after acquiring an additional 464,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 in the last quarter. Federated Hermes Inc. purchased a new position in Prothena in the second quarter valued at approximately $905,000. Finally, Duncan Williams Asset Management LLC acquired a new stake in Prothena during the third quarter worth approximately $816,000. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Prothena Stock Performance

Prothena stock opened at $15.14 on Monday. The business has a fifty day moving average of $15.52 and a two-hundred day moving average of $18.87. The company has a market cap of $814.67 million, a P/E ratio of -6.10 and a beta of 0.09. Prothena Co. plc has a one year low of $11.70 and a one year high of $41.54.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on PRTA. HC Wainwright reissued a “buy” rating and issued a $48.00 price target (down from $84.00) on shares of Prothena in a research report on Friday, December 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. StockNews.com downgraded shares of Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Chardan Capital initiated coverage on Prothena in a report on Friday, December 20th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Bank of America cut their price target on Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.29.

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.