Prothena (NASDAQ:PRTA) Sets New 52-Week Low – Time to Sell?

Prothena Co. plc (NASDAQ:PRTA)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $11.70 and last traded at $12.16, with a volume of 40650 shares traded. The stock had previously closed at $12.38.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $48.00 price objective on shares of Prothena in a research report on Friday, February 21st. Oppenheimer raised their target price on Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada decreased their price target on Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Bank of America cut their price objective on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, Piper Sandler lifted their price target on shares of Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Prothena Stock Down 4.1 %

The company has a market capitalization of $638.98 million, a price-to-earnings ratio of -5.17 and a beta of -0.02. The business has a fifty day simple moving average of $14.29 and a two-hundred day simple moving average of $15.47.

Prothena (NASDAQ:PRTA) last announced its quarterly 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). Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The company had revenue of $2.12 million during the quarter, compared to the consensus estimate of $7.53 million. As a group, equities analysts predict that Prothena Co. plc will post -4.04 earnings per share for the current fiscal year.

Institutional Trading of Prothena

A number of hedge funds and other institutional investors have recently modified their holdings of PRTA. Wellington Management Group LLP grew its holdings in Prothena by 22.8% during the 4th quarter. Wellington Management Group LLP now owns 5,130,876 shares of the biotechnology company’s stock worth $71,063,000 after acquiring an additional 952,088 shares during the period. Boxer Capital Management LLC acquired a new position in shares of Prothena in the fourth quarter valued at approximately $9,556,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 valued at $8,812,000 after buying an additional 483,673 shares during the last quarter. Federated Hermes Inc. lifted its stake in Prothena by 84.3% in the 4th quarter. Federated Hermes Inc. now owns 746,177 shares of the biotechnology company’s stock valued at $10,335,000 after acquiring an additional 341,274 shares in the last quarter. Finally, Finepoint Capital LP boosted its position in Prothena by 51.6% during the 4th quarter. Finepoint Capital LP now owns 657,071 shares of the biotechnology company’s stock worth $9,100,000 after acquiring an additional 223,600 shares during the last quarter. Institutional investors and hedge funds 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.