Prothena (NASDAQ:PRTA) Shares Gap Down to $26.15

Prothena Co. plc (NASDAQ:PRTAGet Free Report)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $26.15, but opened at $25.02. Prothena shares last traded at $25.02, with a volume of 32,260 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PRTA shares. Bank of America restated a “neutral” rating and set a $38.00 target price (down previously from $68.00) on shares of Prothena in a research report on Tuesday, January 30th. Royal Bank of Canada dropped their price objective on Prothena from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Prothena in a research note on Tuesday, December 12th. They set a “buy” rating and a $62.00 price objective for the company. StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Finally, Cantor Fitzgerald lowered their price target on Prothena from $129.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.63.

Get Our Latest Analysis on PRTA

Prothena Stock Up 1.3 %

The stock has a market cap of $1.30 billion, a PE ratio of -8.66 and a beta of 0.21. The company has a fifty day moving average price of $27.45 and a 200 day moving average price of $35.03.

Prothena (NASDAQ:PRTAGet Free Report) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.03). The company had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $2.15 million. Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. The firm’s quarterly revenue was down 99.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 EPS. As a group, research analysts predict that Prothena Co. plc will post -4.87 earnings per share for the current year.

Insider Activity at Prothena

In related news, CAO Karin L. Walker sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $34.00, for a total transaction of $170,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 28.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PRTA. West Tower Group LLC bought a new stake in Prothena during the 2nd quarter valued at approximately $45,000. Point72 Middle East FZE bought a new stake in Prothena during the 4th quarter valued at approximately $48,000. KBC Group NV bought a new stake in Prothena during the 4th quarter valued at approximately $34,000. China Universal Asset Management Co. Ltd. boosted its position in Prothena by 99.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,375 shares of the biotechnology company’s stock valued at $66,000 after acquiring an additional 684 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Prothena during the 3rd quarter valued at approximately $74,000. Hedge funds and other institutional investors own 97.08% of the company’s stock.

About Prothena

(Get Free Report)

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.

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