Prothena (NASDAQ:PRTA) Stock Price Passes Below Two Hundred Day Moving Average of $23.08

Prothena Co. plc (NASDAQ:PRTA)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.08 and traded as low as $21.71. Prothena shares last traded at $21.98, with a volume of 208,273 shares changing hands.

Wall Street Analyst Weigh In

PRTA has been the subject of several analyst reports. Oppenheimer decreased their target price on Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Royal Bank of Canada decreased their price target 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research note on Monday, August 12th. HC Wainwright decreased their target price on Prothena from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, StockNews.com raised Prothena from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $62.86.

Prothena Stock Up 1.2 %

The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -6.76 and a beta of 0.21. The stock’s fifty day moving average is $21.51 and its two-hundred day moving average is $23.08.

Prothena (NASDAQ:PRTA) last issued its earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.01) by $2.23. Prothena had a negative net margin of 23.44% and a negative return on equity of 9.00%. The company had revenue of $132.01 million for the quarter, compared to analysts’ expectations of $10.73 million. During the same period in the prior year, the firm earned ($1.03) EPS. Prothena’s quarterly revenue was up 3184.7% compared to the same quarter last year. As a group, analysts anticipate that Prothena Co. plc will post -2.58 EPS for the current year.

Institutional Investors Weigh In On Prothena

Large investors have recently added to or reduced their stakes in the business. Strs Ohio lifted its stake in shares of Prothena by 55.1% during the 4th quarter. Strs Ohio now owns 10,700 shares of the biotechnology company’s stock worth $388,000 after buying an additional 3,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Prothena by 28.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,563 shares of the biotechnology company’s stock valued at $348,000 after acquiring an additional 2,099 shares during the period. New York State Common Retirement Fund lifted its position in Prothena by 8.6% during the fourth quarter. New York State Common Retirement Fund now owns 33,648 shares of the biotechnology company’s stock worth $1,223,000 after acquiring an additional 2,675 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Prothena by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 313,230 shares of the biotechnology company’s stock worth $11,383,000 after purchasing an additional 4,693 shares during the period. Finally, E Fund Management Co. Ltd. lifted its holdings in Prothena by 37.7% during the 4th quarter. E Fund Management Co. Ltd. now owns 11,096 shares of the biotechnology company’s stock worth $403,000 after purchasing an additional 3,037 shares during the last quarter. Institutional investors 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.