Prothena (NASDAQ:PRTA) Trading Down 7.2% – Here’s Why

Prothena Co. plc (NASDAQ:PRTA)’s stock price was down 7.2% during trading on Monday . The stock traded as low as $11.90 and last traded at $12.20. Approximately 92,748 shares changed hands during trading, a decline of 81% from the average daily volume of 489,183 shares. The stock had previously closed at $13.14.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank of Canada reduced their price objective on Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Oppenheimer raised their target price on shares of Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Piper Sandler increased their price target on Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. StockNews.com raised Prothena from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Prothena Price Performance

The business has a fifty day moving average of $14.32 and a 200 day moving average of $15.53. The stock has a market cap of $666.38 million, a PE ratio of -5.39 and a beta of -0.02.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.06). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The company had revenue of $2.12 million for the quarter, compared to analyst estimates of $7.53 million. On average, equities research analysts expect that Prothena Co. plc will post -4.04 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Virtus ETF Advisers LLC increased its holdings in shares of Prothena by 19.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 833 shares during the last quarter. Headlands Technologies LLC increased its stake in Prothena by 196.5% during the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 4,858 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Prothena during the fourth quarter worth $145,000. Purkiss Capital Advisors LLC bought a new position in shares of Prothena in the 4th quarter worth about $149,000. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Prothena during the 4th quarter valued at about $159,000. Institutional investors own 97.08% of the company’s stock.

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.