Prothena (NASDAQ:PRTA) Trading 4.8% Higher – Here’s What Happened

Prothena Co. plc (NASDAQ:PRTA) shares rose 4.8% on Wednesday . The stock traded as high as $13.20 and last traded at $13.25. Approximately 491,749 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 483,168 shares. The stock had previously closed at $12.65.

Analyst Upgrades and Downgrades

PRTA has been the subject of several analyst reports. Royal Bank of Canada cut their price target on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Bank of America reduced their target price on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. StockNews.com raised Prothena from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Piper Sandler lifted their price objective on Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Oppenheimer increased their target price on Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.00.

Prothena Stock Up 1.0 %

The firm has a market capitalization of $707.29 million, a P/E ratio of -5.71 and a beta of -0.02. The stock has a fifty day moving average of $14.32 and a 200-day moving average of $15.61.

Prothena (NASDAQ:PRTA) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.06). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The business had revenue of $2.12 million for the quarter, compared to analyst estimates of $7.53 million. Sell-side analysts predict that Prothena Co. plc will post -4.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Prothena

A number of institutional investors and hedge funds have recently made changes to their positions in PRTA. Orion Portfolio Solutions LLC raised its position in Prothena by 4.4% during the third quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock worth $293,000 after acquiring an additional 739 shares in the last quarter. Virtus ETF Advisers LLC raised its holdings in shares of Prothena by 19.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 833 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of Prothena by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 1,065 shares during the period. Rhumbline Advisers lifted its stake in Prothena by 1.8% in the 4th quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock valued at $930,000 after purchasing an additional 1,175 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Prothena by 6.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,269 shares of the biotechnology company’s stock worth $381,000 after purchasing an additional 1,551 shares during the period. 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.