Rhumbline Advisers Raises Holdings in Prothena Co. plc (NASDAQ:PRTA)

Rhumbline Advisers increased its position in Prothena Co. plc (NASDAQ:PRTA) by 9.9% in the 2nd quarter, Holdings Channel reports. The firm owned 69,756 shares of the biotechnology company’s stock after buying an additional 6,256 shares during the period. Rhumbline Advisers’ holdings in Prothena were worth $1,440,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in PRTA. Signaturefd LLC raised its position in Prothena by 182.1% in the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 863 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Prothena by 265.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 1,122 shares during the period. Headlands Technologies LLC purchased a new position in Prothena in the 1st quarter valued at approximately $96,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Prothena by 13.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock valued at $211,000 after acquiring an additional 1,186 shares in the last quarter. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Prothena in the fourth quarter worth $222,000. 97.08% of the stock is owned by hedge funds and other institutional investors.

Prothena Stock Down 0.2 %

Shares of NASDAQ PRTA opened at $21.61 on Friday. The stock’s 50 day moving average price is $21.78 and its two-hundred day moving average price is $22.22. The stock has a market capitalization of $1.16 billion, a P/E ratio of -6.65 and a beta of 0.18. Prothena Co. plc has a 52-week low of $18.69 and a 52-week high of $55.89.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $2.23. The business had revenue of $132.01 million for the quarter, compared to analysts’ expectations of $10.73 million. Prothena had a negative return on equity of 9.00% and a negative net margin of 23.44%. The business’s quarterly revenue was up 3184.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.03) EPS. On average, analysts anticipate that Prothena Co. plc will post -2.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRTA. Royal Bank of Canada dropped their target price on Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. Oppenheimer reduced their price objective on Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a report on Monday, August 12th. Finally, StockNews.com raised Prothena from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.86.

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.