Prothena (NASDAQ:PRTA) Sets New 1-Year Low – Here’s What Happened

Prothena Co. plc (NASDAQ:PRTA) hit a new 52-week low during trading on Thursday . The company traded as low as $11.70 and last traded at $11.95, with a volume of 856864 shares. The stock had previously closed at $14.04.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $84.00 price objective on shares of Prothena in a research report on Wednesday, November 13th. StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a report on Monday, September 30th. Finally, Bank of America dropped their price objective on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $61.83.

Prothena Price Performance

The firm has a market capitalization of $643.02 million, a P/E ratio of -4.82 and a beta of 0.09. The firm’s 50 day moving average is $15.83 and its two-hundred day moving average is $19.22.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.08. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.22 million. During the same period in the prior year, the firm posted $0.38 EPS. The company’s revenue for the quarter was down 98.9% on a year-over-year basis. Analysts anticipate that Prothena Co. plc will post -2.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Prothena

A number of institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its position in Prothena by 182.1% during the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock worth $28,000 after buying an additional 863 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 purchasing an additional 1,186 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Prothena by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 4,026 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Prothena in the 3rd quarter valued at about $210,000. Finally, XTX Topco Ltd acquired a new stake in shares of Prothena in the third quarter valued at about $260,000. 97.08% of the stock is currently owned by institutional investors and hedge funds.

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.