Quinn Opportunity Partners LLC Purchases Shares of 50,000 Prothena Corporation plc $PRTA

Quinn Opportunity Partners LLC acquired a new stake in Prothena Corporation plc (NASDAQ:PRTA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the biotechnology company’s stock, valued at approximately $304,000.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Prothena by 1.3% during the 1st quarter. Wellington Management Group LLP now owns 5,199,528 shares of the biotechnology company’s stock worth $64,344,000 after buying an additional 68,652 shares during the last quarter. Siren L.L.C. increased its stake in shares of Prothena by 16.7% in the first quarter. Siren L.L.C. now owns 1,283,555 shares of the biotechnology company’s stock worth $15,884,000 after acquiring an additional 183,715 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Prothena during the second quarter worth $6,176,000. Birchview Capital LP lifted its position in Prothena by 9.3% during the first quarter. Birchview Capital LP now owns 332,974 shares of the biotechnology company’s stock valued at $4,121,000 after purchasing an additional 28,400 shares during the period. Finally, Nordea Investment Management AB lifted its position in Prothena by 1.2% during the second quarter. Nordea Investment Management AB now owns 311,605 shares of the biotechnology company’s stock valued at $1,916,000 after purchasing an additional 3,618 shares during the period. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Prothena Price Performance

Shares of Prothena stock opened at $10.85 on Thursday. The stock’s 50 day simple moving average is $9.63 and its 200-day simple moving average is $7.83. The stock has a market cap of $584.06 million, a P/E ratio of -1.92 and a beta of -0.09. Prothena Corporation plc has a 1-year low of $4.32 and a 1-year high of $17.94.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The company had revenue of $2.42 million during the quarter, compared to analyst estimates of $6.64 million. Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%. As a group, research analysts expect that Prothena Corporation plc will post -4.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PRTA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prothena in a research report on Wednesday, November 5th. Chardan Capital reaffirmed a “buy” rating and set a $18.00 target price on shares of Prothena in a report on Thursday, August 28th. JMP Securities decreased their price target on Prothena from $29.00 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday, September 2nd. HC Wainwright raised their price objective on shares of Prothena from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Piper Sandler lifted their target price on shares of Prothena from $15.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $25.78.

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.