Prothena (NASDAQ:PRTA) Stock Price Down 2.6% – Time to Sell?

Prothena Co. plc (NASDAQ:PRTA)’s share price was down 2.6% during mid-day trading on Tuesday . The company traded as low as $14.44 and last traded at $14.49. Approximately 47,687 shares were traded during trading, a decline of 92% from the average daily volume of 586,415 shares. The stock had previously closed at $14.88.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PRTA shares. Bank of America cut their price objective on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Chardan Capital assumed coverage on shares of Prothena in a research report on Friday, December 20th. They issued a “buy” rating and a $40.00 target price for the company. StockNews.com downgraded shares of Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. HC Wainwright reaffirmed a “buy” rating and set a $48.00 price objective (down previously from $84.00) on shares of Prothena in a research report on Friday, December 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.29.

Prothena Trading Down 6.9 %

The business’s fifty day simple moving average is $15.38 and its 200-day simple moving average is $18.72. The firm has a market cap of $745.25 million, a P/E ratio of -5.58 and a beta of 0.09.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, topping the consensus estimate of ($1.18) by $0.08. The business had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.22 million. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The business’s revenue was down 98.9% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. As a group, research analysts expect that Prothena Co. plc will post -2.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prothena

Hedge funds have recently modified their holdings of the business. Barclays PLC lifted its position in Prothena by 110.2% during the third quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock valued at $1,592,000 after purchasing an additional 49,916 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings 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 buying an additional 739 shares during the period. XTX Topco Ltd bought a new stake in Prothena during the third quarter valued at about $260,000. Wellington Management Group LLP increased its position in shares of Prothena by 14.8% during the third quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock worth $69,911,000 after purchasing an additional 539,359 shares in the last quarter. Finally, PDT Partners LLC boosted its holdings in Prothena by 7.7% in the third quarter. PDT Partners LLC now owns 110,654 shares of the biotechnology company’s stock worth $1,851,000 after acquiring an additional 7,946 shares in the last quarter. 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.