Prosight Management LP Has $195,000 Stock Position in Prothena Corporation plc $PRTA

Prosight Management LP lowered its position in shares of Prothena Corporation plc (NASDAQ:PRTA) by 92.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the biotechnology company’s stock after selling 247,800 shares during the quarter. Prosight Management LP’s holdings in Prothena were worth $195,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PRTA. Prospera Financial Services Inc acquired a new position in Prothena in the 2nd quarter worth approximately $61,000. CWM LLC grew its position in Prothena by 650.1% during the 3rd quarter. CWM LLC now owns 10,246 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 8,880 shares in the last quarter. Inscription Capital LLC acquired a new stake in Prothena during the 3rd quarter valued at $102,000. Y Intercept Hong Kong Ltd acquired a new stake in Prothena during the 3rd quarter valued at $119,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Prothena by 571.0% in the second quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 10,815 shares in the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Prothena Stock Down 1.1%

Prothena stock opened at $9.21 on Friday. Prothena Corporation plc has a 12 month low of $4.32 and a 12 month high of $14.34. The stock has a market cap of $495.80 million, a P/E ratio of -2.03, a P/E/G ratio of 0.62 and a beta of -0.24. The company’s fifty day simple moving average is $9.19 and its 200-day simple moving average is $9.52.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Thursday, February 19th. The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.01. The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.67 million. Prothena had a negative return on equity of 65.89% and a negative net margin of 2,520.57%. On average, equities research analysts expect that Prothena Corporation plc will post -4.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PRTA. Citizens Jmp set a $19.00 target price on Prothena in a research report on Monday, December 1st. Citigroup reissued a “market outperform” rating on shares of Prothena in a research note on Friday. Royal Bank Of Canada raised their price objective on Prothena from $11.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Deutsche Bank Aktiengesellschaft set a $19.00 target price on Prothena in a research note on Monday, December 1st. Finally, Stifel Nicolaus set a $19.00 target price on Prothena in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.67.

About Prothena

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.