Principal Financial Group Inc. Sells 19,236 Shares of Prothena Co. plc (NASDAQ:PRTA)

Principal Financial Group Inc. reduced its position in shares of Prothena Co. plc (NASDAQ:PRTAFree Report) by 62.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,737 shares of the biotechnology company’s stock after selling 19,236 shares during the period. Principal Financial Group Inc.’s holdings in Prothena were worth $291,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Prothena by 265.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 1,122 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in shares of Prothena in the fourth quarter worth about $222,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Prothena by 351.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,203 shares of the biotechnology company’s stock worth $225,000 after acquiring an additional 4,828 shares during the last quarter. HealthInvest Partners AB bought a new position in shares of Prothena in the fourth quarter worth about $303,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Prothena by 28.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,563 shares of the biotechnology company’s stock worth $348,000 after acquiring an additional 2,099 shares during the last quarter. 97.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PRTA has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $28.00 target price on shares of Prothena in a research note on Wednesday, June 26th. HC Wainwright dropped their target price on shares of Prothena from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research report on Wednesday, April 10th. Finally, JMP Securities lowered their price target on shares of Prothena from $85.00 to $83.00 and set a “market outperform” rating for the company in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.00.

Get Our Latest Stock Report on Prothena

Prothena Stock Performance

Shares of NASDAQ PRTA opened at $20.26 on Monday. The firm has a 50 day moving average price of $21.15 and a 200 day moving average price of $26.14. Prothena Co. plc has a 52-week low of $18.69 and a 52-week high of $73.14.

Prothena (NASDAQ:PRTAGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.13). The firm had revenue of $0.05 million for the quarter, compared to analyst estimates of $3.75 million. Prothena had a negative net margin of 193.17% and a negative return on equity of 30.48%. During the same quarter in the prior year, the firm posted ($0.89) EPS. On average, sell-side analysts forecast that Prothena Co. plc will post -4.69 earnings per share for the current fiscal year.

Prothena Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Prothena (NASDAQ:PRTA)

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