Citigroup Inc. increased its stake in Prothena Co. plc (NASDAQ:PRTA – Free Report) by 81.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,800 shares of the biotechnology company’s stock after buying an additional 51,400 shares during the quarter. Citigroup Inc. owned approximately 0.22% of Prothena worth $5,564,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. E Fund Management Co. Ltd. lifted its stake in Prothena by 11.1% in the 1st quarter. E Fund Management Co. Ltd. now owns 8,049 shares of the biotechnology company’s stock valued at $390,000 after purchasing an additional 806 shares during the last quarter. Guggenheim Capital LLC bought a new position in shares of Prothena during the 1st quarter worth approximately $843,000. Ameritas Investment Partners Inc. increased its holdings in shares of Prothena by 7.1% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,142 shares of the biotechnology company’s stock worth $152,000 after acquiring an additional 208 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Prothena in the 1st quarter valued at $352,000. Finally, Credit Suisse AG lifted its holdings in Prothena by 7.3% during the 1st quarter. Credit Suisse AG now owns 41,715 shares of the biotechnology company’s stock valued at $2,022,000 after purchasing an additional 2,828 shares during the last quarter. 97.08% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on PRTA. JMP Securities upped their price objective on shares of Prothena from $82.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, August 4th. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Prothena in a report on Friday, August 4th. Cantor Fitzgerald restated an “overweight” rating and set a $129.00 price objective on shares of Prothena in a report on Tuesday, August 22nd. Finally, StockNews.com assumed coverage on Prothena in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.56.
Insider Buying and Selling at Prothena
In other news, insider Hideki Garren sold 4,669 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $74.22, for a total transaction of $346,533.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Michael J. Malecek sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $55.01, for a total value of $275,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Hideki Garren sold 4,669 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $74.22, for a total value of $346,533.18. The disclosure for this sale can be found here. Insiders have sold a total of 87,333 shares of company stock valued at $5,904,733 in the last ninety days. 28.20% of the stock is currently owned by company insiders.
Prothena Price Performance
Shares of NASDAQ:PRTA opened at $55.15 on Friday. The business’s 50 day simple moving average is $63.69 and its 200 day simple moving average is $60.68. Prothena Co. plc has a 1 year low of $25.02 and a 1 year high of $79.65. The company has a market capitalization of $2.95 billion, a P/E ratio of -19.91 and a beta of 0.35.
Prothena (NASDAQ:PRTA – Get Free Report) last released its earnings results on Thursday, August 3rd. The biotechnology company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.11). The company had revenue of $4.02 million for the quarter, compared to analyst estimates of $5.09 million. Prothena had a negative return on equity of 25.43% and a negative net margin of 244.45%. The business’s revenue for the quarter was up 206.3% compared to the same quarter last year. During the same period last year, the company posted ($0.88) earnings per share. On average, sell-side analysts anticipate that Prothena Co. plc will post -2.99 EPS for the current fiscal year.
Prothena Corporation plc, a late-stage clinical 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, which is in Phase IIb clinical trial for the treatment of Parkinson's disease and other related synucleinopathies; NNC6019 that completed Phase I clinical trial for the treatment of ATTR amyloidosis; and PRX005, which is in Phase I clinical trial for the treatment of Alzheimer's disease.
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