Prothena (NASDAQ:PRTA) Shares Down 3.5%

Prothena Co. plc (NASDAQ:PRTA) fell 3.5% on Wednesday . The company traded as low as $19.96 and last traded at $20.04. Approximately 17,367 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 681,747 shares. The stock had previously closed at $20.77.

Wall Street Analysts Forecast Growth

PRTA has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a report on Wednesday, April 10th. JMP Securities cut their price target on shares of Prothena from $85.00 to $83.00 and set a “market outperform” rating for the company in a report on Thursday, May 9th. HC Wainwright decreased their price objective on shares of Prothena from $90.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $28.00 target price on shares of Prothena in a research note on Wednesday. One 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.00.

Prothena Stock Down 3.5 %

The stock’s 50-day moving average price is $21.24 and its 200 day moving average price is $27.09. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -6.14 and a beta of 0.24.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.13). Prothena had a negative return on equity of 30.48% and a negative net margin of 193.17%. The company had revenue of $0.05 million for the quarter, compared to analyst estimates of $3.75 million. During the same period last year, the firm posted ($0.89) EPS. On average, sell-side analysts anticipate that Prothena Co. plc will post -4.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its position in Prothena by 265.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 1,122 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Prothena in the first quarter valued at $96,000. ADAR1 Capital Management LLC purchased a new stake in shares of Prothena in the 4th quarter valued at $222,000. China Universal Asset Management Co. Ltd. lifted its stake in Prothena by 351.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,203 shares of the biotechnology company’s stock worth $225,000 after acquiring an additional 4,828 shares in the last quarter. Finally, Focused Wealth Management Inc boosted its holdings in Prothena by 7,751.9% during 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 during the period. Hedge funds and other institutional investors own 97.08% of the company’s stock.

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.