Sectoral Asset Management Inc increased its holdings in shares of Prothena Corporation PLC (NASDAQ:PRTA) by 29.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 195,909 shares of the biotechnology company’s stock after purchasing an additional 44,863 shares during the period. Prothena accounts for 1.6% of Sectoral Asset Management Inc’s holdings, making the stock its 29th biggest holding. Sectoral Asset Management Inc owned about 0.51% of Prothena worth $12,689,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its stake in shares of Prothena by 5.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 172,578 shares of the biotechnology company’s stock valued at $11,178,000 after purchasing an additional 8,897 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Prothena by 15.0% during the third quarter. Legal & General Group Plc now owns 15,761 shares of the biotechnology company’s stock valued at $1,020,000 after purchasing an additional 2,053 shares in the last quarter. American International Group Inc. boosted its stake in shares of Prothena by 8.1% during the third quarter. American International Group Inc. now owns 25,746 shares of the biotechnology company’s stock valued at $1,668,000 after purchasing an additional 1,925 shares in the last quarter. Sphera Funds Management LTD. boosted its stake in shares of Prothena by 50.0% during the third quarter. Sphera Funds Management LTD. now owns 60,000 shares of the biotechnology company’s stock valued at $3,886,000 after purchasing an additional 20,000 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Prothena by 70.8% during the third quarter. SG Americas Securities LLC now owns 6,942 shares of the biotechnology company’s stock valued at $450,000 after purchasing an additional 2,878 shares in the last quarter.

A number of research firms have recently issued reports on PRTA. Oppenheimer reiterated a “buy” rating and set a $70.00 price objective on shares of Prothena in a research note on Thursday, November 9th. Royal Bank Of Canada began coverage on shares of Prothena in a research note on Thursday, September 14th. They issued an “outperform” rating and a $87.00 target price for the company. Deutsche Bank set a $73.00 target price on shares of Prothena and gave the company a “buy” rating in a research note on Monday, October 23rd. Wedbush downgraded shares of Prothena from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $75.00 to $55.00 in a research note on Monday, November 20th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $79.00 target price on shares of Prothena in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $76.75.

In other Prothena news, Director Dennis J. Selkoe sold 3,500 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $64.17, for a total value of $224,595.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tara Nickerson sold 17,500 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $63.60, for a total transaction of $1,113,000.00. Following the completion of the transaction, the insider now directly owns 19,500 shares of the company’s stock, valued at approximately $1,240,200. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,424 shares of company stock valued at $1,922,787. Corporate insiders own 3.10% of the company’s stock.

Shares of Prothena Corporation PLC (NASDAQ:PRTA) opened at $40.60 on Friday. Prothena Corporation PLC has a one year low of $37.99 and a one year high of $70.00.

Prothena (NASDAQ:PRTA) last announced its earnings results on Tuesday, November 7th. The biotechnology company reported ($1.37) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.41) by $0.04. The company had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.28 million. Prothena had a negative net margin of 562.19% and a negative return on equity of 34.40%. Prothena’s revenue was down 33.6% compared to the same quarter last year. During the same period last year, the firm earned ($1.26) earnings per share. analysts expect that Prothena Corporation PLC will post -4.27 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another site, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be read at https://www.thecerbatgem.com/2017/12/08/sectoral-asset-management-inc-acquires-44863-shares-of-prothena-corporation-plc-prta.html.

Prothena Profile

Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).

Want to see what other hedge funds are holding PRTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prothena Corporation PLC (NASDAQ:PRTA).

Institutional Ownership by Quarter for Prothena (NASDAQ:PRTA)

Receive News & Stock Ratings for Prothena Corporation PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prothena Corporation PLC and related stocks with our FREE daily email newsletter.