JPMorgan Chase & Co. Has $3.35 Million Stock Position in Prothena Co. plc (NASDAQ:PRTA)

JPMorgan Chase & Co. lessened its holdings in shares of Prothena Co. plc (NASDAQ:PRTA) by 32.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 199,986 shares of the biotechnology company’s stock after selling 95,979 shares during the period. JPMorgan Chase & Co. owned 0.37% of Prothena worth $3,346,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its holdings in Prothena by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 4,026 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Prothena during the third quarter worth $210,000. XTX Topco Ltd bought a new position in Prothena during the third quarter worth $260,000. Orion Portfolio Solutions LLC lifted its holdings in Prothena by 4.4% in the third quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock valued at $293,000 after buying an additional 739 shares during the period. Finally, Creative Planning bought a new stake in Prothena during the third quarter valued at $350,000. Institutional investors own 97.08% of the company’s stock.

Prothena Trading Up 4.5 %

Prothena stock opened at $13.77 on Monday. The business’s 50 day simple moving average is $14.50 and its 200 day simple moving average is $18.13. Prothena Co. plc has a 12 month low of $11.70 and a 12 month high of $34.75. The company has a market cap of $740.95 million, a price-to-earnings ratio of -5.55 and a beta of 0.10.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, beating the consensus estimate 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 business had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.22 million. During the same period in the prior year, the firm earned $0.38 earnings per share. The company’s revenue was down 98.9% compared to the same quarter last year. As a group, equities research analysts forecast that Prothena Co. plc will post -2.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PRTA shares. StockNews.com downgraded Prothena from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Chardan Capital assumed coverage on Prothena in a report on Friday, December 20th. They set a “buy” rating and a $40.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $48.00 price objective (down previously from $84.00) on shares of Prothena in a research note on Friday, December 20th. Bank of America cut their target price on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.50.

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.