Teacher Retirement System of Texas increased its stake in shares of Prothena Co. plc (NASDAQ:PRTA – Free Report) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,231 shares of the biotechnology company’s stock after purchasing an additional 529 shares during the quarter. Teacher Retirement System of Texas’ holdings in Prothena were worth $542,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. West Tower Group LLC acquired a new stake in shares of Prothena during the second quarter worth $45,000. Point72 Middle East FZE acquired a new stake in shares of Prothena during the fourth quarter worth $48,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Prothena by 99.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,375 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 684 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Prothena by 61.1% during the first quarter. Lazard Asset Management LLC now owns 1,733 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 657 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Prothena by 40.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,535 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 732 shares during the period. 97.08% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PRTA has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Prothena in a report on Tuesday, December 12th. They set a “buy” rating and a $62.00 price target for the company. Royal Bank of Canada reduced their target price on Prothena from $43.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, January 25th. Bank of America reissued a “neutral” rating and issued a $38.00 target price (down previously from $68.00) on shares of Prothena in a report on Tuesday. Cantor Fitzgerald reduced their target price on Prothena from $129.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, January 9th. Finally, JMP Securities reduced their target price on Prothena from $83.00 to $81.00 and set a “market outperform” rating for the company in a report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.25.
Insider Buying and Selling
In related news, CAO Karin L. Walker sold 5,000 shares of Prothena stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $37.19, for a total transaction of $185,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 15,000 shares of company stock worth $525,950. 28.20% of the stock is owned by corporate insiders.
Prothena Stock Down 4.9 %
Shares of PRTA stock opened at $28.39 on Thursday. Prothena Co. plc has a fifty-two week low of $28.26 and a fifty-two week high of $79.65. The stock has a market cap of $1.52 billion, a P/E ratio of -19.99 and a beta of 0.29. The business has a fifty day simple moving average of $35.53 and a 200-day simple moving average of $45.35.
Prothena (NASDAQ:PRTA – Get Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.64. Prothena had a negative return on equity of 12.06% and a negative net margin of 51.92%. The business had revenue of $84.87 million during the quarter, compared to analysts’ expectations of $51.85 million. On average, sell-side analysts anticipate that Prothena Co. plc will post -2.76 earnings per share for the current year.
Prothena Corporation plc, a late-stage clinical 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, which is in Phase IIb clinical trial for the treatment of Parkinson's disease and other related synucleinopathies; NNC6019 that completed Phase I clinical trial for the treatment of ATTR amyloidosis; and PRX005, which is in Phase I clinical trial for the treatment of Alzheimer's disease.
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