Systematic Financial Management LP Has $136,000 Stock Position in Prothena Co. plc (NASDAQ:PRTA)

Systematic Financial Management LP lessened its holdings in shares of Prothena Co. plc (NASDAQ:PRTA) by 95.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,125 shares of the biotechnology company’s stock after selling 185,638 shares during the quarter. Systematic Financial Management LP’s holdings in Prothena were worth $136,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Prothena by 5.1% during the first quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock worth $27,873,000 after purchasing an additional 54,728 shares during the period. SG Americas Securities LLC raised its holdings in Prothena by 226.4% during the 2nd quarter. SG Americas Securities LLC now owns 54,572 shares of the biotechnology company’s stock worth $1,126,000 after buying an additional 37,852 shares during the period. Bank of New York Mellon Corp raised its holdings in Prothena by 13.4% during the 2nd 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 lifted its stake in Prothena by 13.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock valued at $211,000 after buying an additional 1,186 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Prothena by 182.1% in the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 863 shares during the period. 97.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Bank of America dropped their price objective on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. StockNews.com lowered 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 report on Monday, September 30th. Oppenheimer cut their target price on Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada decreased their price target on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Prothena has a consensus rating of “Moderate Buy” and an average target price of $61.86.

Prothena Stock Performance

PRTA stock opened at $14.05 on Friday. Prothena Co. plc has a twelve month low of $13.22 and a twelve month high of $41.54. The business has a 50 day moving average price of $16.25 and a two-hundred day moving average price of $19.56.

Prothena (NASDAQ:PRTA) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share 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 during the quarter, compared to analysts’ expectations of $1.22 million. During the same period last year, the business earned $0.38 earnings per share. The firm’s revenue was down 98.9% on a year-over-year basis. Equities research analysts forecast that Prothena Co. plc will post -2.24 EPS for the current fiscal year.

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.