Prosight Management LP Decreases Holdings in Prothena Co. plc (NASDAQ:PRTA)

Prosight Management LP cut its holdings in shares of Prothena Co. plc (NASDAQ:PRTA) by 13.5% during the 4th quarter, HoldingsChannel reports. The fund owned 418,122 shares of the biotechnology company’s stock after selling 65,345 shares during the quarter. Prothena makes up 1.6% of Prosight Management LP’s investment portfolio, making the stock its 21st biggest position. Prosight Management LP’s holdings in Prothena were worth $5,791,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PRTA. Virtus ETF Advisers LLC grew its holdings in shares of Prothena by 19.3% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 833 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of Prothena by 196.5% in the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 4,858 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Prothena in the fourth quarter worth approximately $145,000. Purkiss Capital Advisors LLC bought a new position in shares of Prothena in the fourth quarter worth approximately $149,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Prothena by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock worth $158,000 after purchasing an additional 1,065 shares during the last quarter. 97.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PRTA. Oppenheimer raised their target price on shares of Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Chardan Capital restated a “buy” rating and issued a $40.00 target price on shares of Prothena in a report on Friday, May 9th. Royal Bank of Canada cut their target price on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Finally, JMP Securities cut their price target on shares of Prothena from $80.00 to $78.00 and set a “market outperform” rating on the stock in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.71.

Prothena Trading Down 9.2%

Shares of PRTA stock opened at $6.89 on Thursday. Prothena Co. plc has a 12 month low of $6.82 and a 12 month high of $25.42. The stock has a market cap of $370.87 million, a PE ratio of -3.00 and a beta of 0.11. The company’s fifty day moving average price is $10.63 and its 200-day moving average price is $13.42.

Prothena (NASDAQ:PRTA) last announced its earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.20). Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The business had revenue of $2.83 million for the quarter, compared to the consensus estimate of $8.18 million. During the same quarter last year, the firm posted ($1.34) EPS. The business’s quarterly revenue was up 5500.0% on a year-over-year basis. On average, sell-side analysts forecast that Prothena Co. plc will post -4.04 earnings per share 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.