Prothena (NASDAQ:PRTA) Stock Price Down 5.9% – Time to Sell?

Prothena Co. plc (NASDAQ:PRTA)’s stock price was down 5.9% during mid-day trading on Monday . The stock traded as low as $15.24 and last traded at $15.25. Approximately 254,864 shares traded hands during trading, a decline of 56% from the average daily volume of 576,147 shares. The stock had previously closed at $16.21.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PRTA. Royal Bank of Canada decreased their price objective on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $84.00 target price on shares of Prothena in a report on Wednesday, November 13th. Oppenheimer cut their target price on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Bank of America decreased their price target on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.86.

Prothena Stock Performance

The stock has a fifty day moving average price of $16.91 and a 200 day moving average price of $19.81. The stock has a market cap of $807.15 million, a PE ratio of -6.54 and a beta of 0.16.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.08. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The business had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.22 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. The business’s revenue was down 98.9% compared to the same quarter last year. As a group, equities analysts anticipate that Prothena Co. plc will post -2.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prothena

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in Prothena by 14.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock worth $69,911,000 after acquiring an additional 539,359 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Prothena by 1,122.9% during 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 worth $8,812,000 after purchasing an additional 483,673 shares during the period. Armistice Capital LLC raised its position in Prothena by 42.3% during the 2nd quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company’s stock valued at $32,198,000 after purchasing an additional 464,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Prothena by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock worth $27,873,000 after buying an additional 54,728 shares during the period. Finally, Barclays PLC grew its position in shares of Prothena by 110.2% during the 3rd quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after buying an additional 49,916 shares in the last quarter. 97.08% of the stock is owned by institutional investors.

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.