Connor Clark & Lunn Investment Management Ltd. Raises Holdings in Prothena Co. plc (NASDAQ:PRTA)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Prothena Co. plc (NASDAQ:PRTA) by 8.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,492 shares of the biotechnology company’s stock after purchasing an additional 9,666 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Prothena were worth $2,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP purchased a new position in Prothena in the third quarter worth approximately $484,000. Pinnacle Associates Ltd. raised its holdings in shares of Prothena by 2.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company’s stock valued at $2,104,000 after purchasing an additional 2,847 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Prothena by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 4,026 shares in the last quarter. Creative Planning acquired a new position in shares of Prothena during the 3rd quarter worth about $350,000. Finally, Duncan Williams Asset Management LLC purchased a new position in Prothena in the third quarter valued at approximately $816,000. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Bank of America dropped their target price on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Royal Bank of Canada decreased their target price on Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. Finally, Oppenheimer cut their target price on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.86.

Prothena Stock Performance

PRTA stock opened at $15.08 on Tuesday. The stock has a market capitalization of $811.44 million, a PE ratio of -6.08 and a beta of 0.16. The company has a fifty day moving average of $17.51 and a 200-day moving average of $20.02. Prothena Co. plc has a one year low of $13.22 and a one year high of $41.54.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS 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 firm had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.22 million. During the same quarter last year, the firm earned $0.38 earnings per share. The firm’s revenue was down 98.9% compared to the same quarter last year. Equities analysts forecast that Prothena Co. plc will post -2.25 earnings per share for the current fiscal year.

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.