Prothena Co. plc (NASDAQ:PRTA) Position Reduced by State Street Corp

State Street Corp trimmed its position in Prothena Co. plc (NASDAQ:PRTA) by 13.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,674,909 shares of the biotechnology company’s stock after selling 257,563 shares during the period. State Street Corp’s holdings in Prothena were worth $28,021,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Armistice Capital LLC grew its position in Prothena by 42.3% during the 2nd quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company’s stock worth $32,198,000 after purchasing an additional 464,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Prothena by 1,122.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company’s stock valued at $8,812,000 after buying an additional 483,673 shares in the last quarter. Systematic Financial Management LP raised its position in Prothena by 25.8% during the second quarter. Systematic Financial Management LP now owns 193,763 shares of the biotechnology company’s stock valued at $3,999,000 after buying an additional 39,771 shares during the period. Bank of New York Mellon Corp lifted its stake in Prothena by 13.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 165,423 shares of the biotechnology company’s stock worth $3,414,000 after acquiring an additional 19,578 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in Prothena by 2.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company’s stock valued at $2,104,000 after acquiring an additional 2,847 shares in the last quarter. 97.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Bank of America decreased their price target on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday. HC Wainwright reissued a “buy” rating and set a $48.00 target price (down previously from $84.00) on shares of Prothena in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. Chardan Capital initiated coverage on Prothena in a research report on Friday. They set a “buy” rating and a $40.00 price objective for the company. Finally, StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Prothena currently has an average rating of “Moderate Buy” and a consensus target price of $52.29.

Prothena Trading Down 4.9 %

Shares of NASDAQ:PRTA opened at $15.22 on Monday. Prothena Co. plc has a 1 year low of $11.70 and a 1 year high of $41.54. The firm has a fifty day moving average price of $15.69 and a 200 day moving average price of $19.07. The stock has a market capitalization of $818.97 million, a PE ratio of -6.14 and a beta of 0.09.

Prothena (NASDAQ:PRTA) last issued 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 return on equity of 24.19% and a negative net margin of 98.86%. The business had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.22 million. During the same quarter in the prior year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was down 98.9% on a year-over-year basis. On average, sell-side analysts forecast that Prothena Co. plc will post -2.24 earnings per share 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.