Prothena (NASDAQ:PRTA) Hits New 12-Month Low – Here’s What Happened

Prothena Co. plc (NASDAQ:PRTA)’s stock price reached a new 52-week low on Friday . The stock traded as low as $15.22 and last traded at $15.24, with a volume of 84680 shares. The stock had previously closed at $16.10.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday, August 9th. Oppenheimer dropped their price target 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. HC Wainwright reissued a “buy” rating and issued a $84.00 price objective on shares of Prothena in a research note on Wednesday. Bank of America decreased their price objective on Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.86.

Prothena Stock Performance

The stock has a fifty day simple moving average of $18.19 and a two-hundred day simple moving average of $20.34. The stock has a market capitalization of $753.86 million, a price-to-earnings ratio of -5.65 and a beta of 0.16.

Prothena (NASDAQ:PRTA) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, topping the consensus estimate of ($1.18) by $0.08. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The business had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.22 million. During the same quarter last year, the firm posted $0.38 earnings per share. The firm’s revenue was down 98.9% on a year-over-year basis. Research analysts forecast that Prothena Co. plc will post -2.34 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC increased its stake in Prothena by 8.9% in the first quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after purchasing an additional 932 shares in the last quarter. Vanguard Group Inc. increased its position in Prothena by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock valued at $27,873,000 after buying an additional 54,728 shares in the last quarter. Artal Group S.A. raised its stake in Prothena by 99.7% during the 1st quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company’s stock worth $24,804,000 after buying an additional 500,000 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in Prothena by 26.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 14,039 shares of the biotechnology company’s stock worth $348,000 after acquiring an additional 2,895 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Prothena by 226.4% in the second quarter. SG Americas Securities LLC now owns 54,572 shares of the biotechnology company’s stock valued at $1,126,000 after acquiring an additional 37,852 shares during the period. Institutional investors and hedge funds own 97.08% of the company’s stock.

About Prothena

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.