Invesco Ltd. Purchases 1,632 Shares of Prothena Co. plc (NASDAQ:PRTA)

Invesco Ltd. lifted its position in shares of Prothena Co. plc (NASDAQ:PRTA) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,846 shares of the biotechnology company’s stock after buying an additional 1,632 shares during the quarter. Invesco Ltd. owned approximately 0.08% of Prothena worth $593,000 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. Wellington Management Group LLP boosted its position in Prothena by 22.8% during the 4th quarter. Wellington Management Group LLP now owns 5,130,876 shares of the biotechnology company’s stock valued at $71,063,000 after acquiring an additional 952,088 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Prothena by 84.3% during the 4th quarter. Federated Hermes Inc. now owns 746,177 shares of the biotechnology company’s stock worth $10,335,000 after purchasing an additional 341,274 shares during the last quarter. Finepoint Capital LP boosted its position in Prothena by 51.6% during the fourth quarter. Finepoint Capital LP now owns 657,071 shares of the biotechnology company’s stock valued at $9,100,000 after purchasing an additional 223,600 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Prothena by 93.7% in the fourth quarter. JPMorgan Chase & Co. now owns 387,350 shares of the biotechnology company’s stock valued at $5,365,000 after purchasing an additional 187,364 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Prothena by 11.5% in the fourth quarter. Vanguard Group Inc. now owns 1,403,838 shares of the biotechnology company’s stock worth $19,443,000 after purchasing an additional 144,737 shares in the last quarter. Institutional investors own 97.08% of the company’s stock.

Analysts Set New Price Targets

PRTA has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a report on Friday, February 21st. Chardan Capital reaffirmed a “buy” rating and issued a $40.00 price target on shares of Prothena in a report on Friday, February 21st. Piper Sandler upped their price target on Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Oppenheimer raised their price objective on Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada reduced their target price on Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Prothena presently has an average rating of “Moderate Buy” and an average target price of $55.00.

Prothena Price Performance

Shares of PRTA stock opened at $8.50 on Friday. The business has a fifty day moving average of $11.85 and a 200 day moving average of $13.90. Prothena Co. plc has a 1 year low of $8.25 and a 1 year high of $25.42. The firm has a market capitalization of $457.53 million, a price-to-earnings ratio of -3.70 and a beta of 0.07.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.06). The firm had revenue of $2.12 million during the quarter, compared to analysts’ expectations of $7.53 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. As a group, equities research analysts expect that Prothena Co. plc will post -4.04 earnings per share for the current year.

Prothena Company 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.