Prothena Co. plc (NASDAQ:PRTA) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of Prothena Co. plc (NASDAQ:PRTA) by 18.5% during the 4th quarter, HoldingsChannel reports. The firm owned 70,184 shares of the biotechnology company’s stock after selling 15,887 shares during the period. The Manufacturers Life Insurance Company’s holdings in Prothena were worth $972,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake 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 purchasing an additional 952,088 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Prothena by 11.5% during the 4th quarter. Vanguard Group Inc. now owns 1,403,838 shares of the biotechnology company’s stock valued at $19,443,000 after acquiring an additional 144,737 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Prothena by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 864,833 shares of the biotechnology company’s stock valued at $11,980,000 after acquiring an additional 10,783 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Prothena by 84.3% during 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 during the last quarter. Finally, Finepoint Capital LP boosted its position in shares of Prothena by 51.6% during the 4th quarter. Finepoint Capital LP now owns 657,071 shares of the biotechnology company’s stock valued at $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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of 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 shares of Prothena from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research report on Friday, February 21st. Piper Sandler boosted 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. Finally, HC Wainwright lowered their price target on shares of Prothena from $48.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.71.

Prothena Trading Down 9.2%

Shares of PRTA opened at $6.89 on Thursday. The firm has a market cap of $370.87 million, a P/E ratio of -3.00 and a beta of 0.11. Prothena Co. plc has a 12-month low of $6.82 and a 12-month high of $25.42. The company’s 50-day moving average price is $10.63 and its 200 day moving average price is $13.42.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.20). The company had revenue of $2.83 million during the quarter, compared to analysts’ expectations of $8.18 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The firm’s quarterly revenue was up 5500.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.34) earnings per share. Equities research analysts forecast that Prothena Co. plc will post -4.04 earnings per share for the current year.

Prothena 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.