Prothena Corporation plc $PRTA Shares Bought by Focused Wealth Management Inc

Focused Wealth Management Inc lifted its position in shares of Prothena Corporation plc (NASDAQ:PRTA) by 93.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,403 shares of the biotechnology company’s stock after acquiring an additional 99,924 shares during the quarter. Focused Wealth Management Inc’s holdings in Prothena were worth $2,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PRTA. Intech Investment Management LLC increased its stake in Prothena by 5.5% in the 3rd quarter. Intech Investment Management LLC now owns 19,388 shares of the biotechnology company’s stock valued at $189,000 after purchasing an additional 1,014 shares in the last quarter. Brooklyn Investment Group boosted its position in Prothena by 13.1% during the third quarter. Brooklyn Investment Group now owns 12,569 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 1,456 shares in the last quarter. Deutsche Bank AG boosted its position in Prothena by 5.1% during the fourth quarter. Deutsche Bank AG now owns 35,482 shares of the biotechnology company’s stock worth $339,000 after purchasing an additional 1,709 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Prothena by 3.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 81,515 shares of the biotechnology company’s stock valued at $779,000 after purchasing an additional 2,968 shares during the last quarter. Finally, Virtus Investment Advisers LLC increased its position in shares of Prothena by 14.4% in the fourth quarter. Virtus Investment Advisers LLC now owns 25,679 shares of the biotechnology company’s stock valued at $245,000 after buying an additional 3,236 shares in the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Stifel Nicolaus set a $19.00 price objective on shares of Prothena in a research report on Friday, March 13th. Citizens Jmp upped their price target on shares of Prothena from $19.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Prothena from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings cut shares of Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Finally, Citigroup restated an “outperform” rating on shares of Prothena in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Prothena has an average rating of “Moderate Buy” and a consensus target price of $23.75.

Insiders Place Their Bets

In other news, major shareholder William P. Scully purchased 125,000 shares of the stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $8.17 per share, with a total value of $1,021,250.00. Following the completion of the transaction, the insider owned 1,061,000 shares in the company, valued at approximately $8,668,370. The trade was a 13.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 345,000 shares of company stock valued at $3,097,250 in the last 90 days. 10.40% of the stock is currently owned by company insiders.

Prothena Stock Performance

Shares of PRTA stock opened at $9.55 on Wednesday. The firm has a market capitalization of $499.94 million, a price-to-earnings ratio of -3.39, a price-to-earnings-growth ratio of 1.46 and a beta of -0.25. Prothena Corporation plc has a one year low of $5.83 and a one year high of $11.80. The company has a 50 day moving average price of $9.78 and a 200 day moving average price of $9.55.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.91. The company had revenue of $51.08 million for the quarter, compared to analyst estimates of $0.81 million. Prothena had a negative net margin of 260.92% and a negative return on equity of 43.44%. As a group, equities analysts forecast that Prothena Corporation plc will post 0.18 EPS for the current fiscal year.

Prothena Company Profile

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.