Charles Schwab Investment Management Inc. Boosts Stock Position in Prothena Co. plc (NASDAQ:PRTA)

Charles Schwab Investment Management Inc. raised its position in Prothena Co. plc (NASDAQ:PRTA) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 327,151 shares of the biotechnology company’s stock after purchasing an additional 2,189 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Prothena were worth $4,531,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Orion Portfolio Solutions LLC grew its holdings in Prothena by 4.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock valued at $293,000 after buying an additional 739 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Prothena by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock worth $158,000 after acquiring an additional 1,065 shares during the period. Rhumbline Advisers boosted its position in shares of Prothena by 1.8% in the fourth quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock worth $930,000 after acquiring an additional 1,175 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Prothena by 3.8% in the third quarter. The Manufacturers Life Insurance Company now owns 86,071 shares of the biotechnology company’s stock valued at $1,440,000 after purchasing an additional 3,163 shares during the period. Finally, Handelsbanken Fonder AB increased its position in Prothena by 35.7% during the fourth quarter. Handelsbanken Fonder AB now owns 20,900 shares of the biotechnology company’s stock worth $289,000 after purchasing an additional 5,500 shares during the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRTA has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on shares of Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Oppenheimer lifted their target price on Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a report on Friday, February 21st. Chardan Capital reiterated a “buy” rating and set a $40.00 target price on shares of Prothena in a report on Friday, February 21st. Finally, Royal Bank of Canada reduced their price target on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Prothena Stock Down 5.2 %

NASDAQ PRTA opened at $12.65 on Wednesday. The stock has a market cap of $680.91 million, a PE ratio of -5.50 and a beta of -0.02. The business has a 50 day moving average price of $14.33 and a two-hundred day moving average price of $15.69. Prothena Co. plc has a fifty-two week low of $11.70 and a fifty-two week high of $26.36.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The firm had revenue of $2.12 million for the quarter, compared to analyst estimates of $7.53 million. Sell-side analysts anticipate that Prothena Co. plc will post -4.04 EPS for the current fiscal year.

Prothena Profile

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.