Prothena Co. plc (NASDAQ:PRTA) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its stake in Prothena Co. plc (NASDAQ:PRTA) by 20.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,823 shares of the biotechnology company’s stock after selling 13,376 shares during the period. Wells Fargo & Company MN owned about 0.10% of Prothena worth $732,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PRTA. Barclays PLC lifted its stake in shares of Prothena by 110.2% in the 3rd quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock valued at $1,592,000 after purchasing an additional 49,916 shares during the period. SG Americas Securities LLC raised its position in shares of Prothena by 167.0% in the fourth quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company’s stock worth $521,000 after acquiring an additional 23,525 shares during the period. Duncan Williams Asset Management LLC boosted its stake in shares of Prothena by 41.9% during the 4th quarter. Duncan Williams Asset Management LLC now owns 69,199 shares of the biotechnology company’s stock worth $958,000 after acquiring an additional 20,450 shares in the last quarter. Rhumbline Advisers grew its position in shares of Prothena by 1.8% during the 4th quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock valued at $930,000 after acquiring an additional 1,175 shares during the period. Finally, Focused Wealth Management Inc purchased a new position in shares of Prothena in the 4th quarter valued at about $445,000. Institutional investors and hedge funds own 97.08% of the company’s stock.

Wall Street Analysts Forecast Growth

PRTA has been the topic of a number of recent analyst reports. StockNews.com upgraded Prothena from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research note on Friday, February 21st. HC Wainwright reissued a “buy” rating and issued a $48.00 price target on shares of Prothena in a report on Friday, February 21st. Piper Sandler increased their price objective on shares of Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Oppenheimer boosted their target price on shares of Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Prothena currently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Prothena Trading Down 5.2 %

NASDAQ:PRTA opened at $8.72 on Friday. Prothena Co. plc has a twelve month low of $8.58 and a twelve month high of $25.42. The company has a market cap of $469.37 million, a P/E ratio of -3.79 and a beta of 0.07. The company’s 50-day moving average price is $11.97 and its 200-day moving average price is $13.98.

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

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.