Foundation Wealth Management LLC Takes $270,000 Position in Prothena Co. plc (NASDAQ:PRTA)

Foundation Wealth Management LLC bought a new position in Prothena Co. plc (NASDAQ:PRTA) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 19,471 shares of the biotechnology company’s stock, valued at approximately $270,000.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Prothena by 110.2% in the third quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after purchasing an additional 49,916 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Prothena by 167.0% during the 4th quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company’s stock worth $521,000 after acquiring an additional 23,525 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Prothena by 1,122.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company’s stock worth $8,812,000 after acquiring an additional 483,673 shares in the last quarter. Duncan Williams Asset Management LLC raised its holdings in shares of Prothena by 41.9% in the fourth quarter. Duncan Williams Asset Management LLC now owns 69,199 shares of the biotechnology company’s stock valued at $958,000 after purchasing an additional 20,450 shares during the last quarter. Finally, Focused Wealth Management Inc bought a new position in shares of Prothena during the fourth quarter valued at about $445,000. Institutional investors own 97.08% of the company’s stock.

Prothena Stock Performance

NASDAQ PRTA opened at $15.13 on Friday. Prothena Co. plc has a 52-week low of $11.70 and a 52-week high of $30.85. The company has a 50-day simple moving average of $14.41 and a 200 day simple moving average of $16.49. The company has a market capitalization of $814.13 million, a PE ratio of -6.58 and a beta of 0.08.

Prothena (NASDAQ:PRTA) last issued its earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). The business had revenue of $2.12 million for the quarter, compared to the consensus estimate of $7.53 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. As a group, analysts forecast that Prothena Co. plc will post -4.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on PRTA. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research note on Friday, February 21st. Royal Bank of Canada cut their price objective on Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. StockNews.com raised Prothena from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Oppenheimer lifted their target price on Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, HC Wainwright restated a “buy” rating and set a $48.00 price target on shares of Prothena in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

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.