Cambridge Investment Research Advisors Inc. Acquires Shares of 10,164 Prothena Corporation plc (NASDAQ:PRTA)

Cambridge Investment Research Advisors Inc. acquired a new stake in Prothena Corporation plc (NASDAQ:PRTA) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,164 shares of the biotechnology company’s stock, valued at approximately $126,000.

Several other large investors have also modified their holdings of the stock. Duncan Williams Asset Management LLC lifted its position in shares of Prothena by 27.7% during the first quarter. Duncan Williams Asset Management LLC now owns 88,339 shares of the biotechnology company’s stock worth $1,093,000 after purchasing an additional 19,140 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Prothena by 92.9% during the first quarter. SG Americas Securities LLC now owns 72,559 shares of the biotechnology company’s stock worth $898,000 after purchasing an additional 34,947 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Prothena by 48.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 77,637 shares of the biotechnology company’s stock worth $961,000 after purchasing an additional 25,353 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Prothena by 4,626.0% during the first quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 5,875 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Prothena by 22.8% during the fourth quarter. Wellington Management Group LLP now owns 5,130,876 shares of the biotechnology company’s stock worth $71,063,000 after purchasing an additional 952,088 shares during the last quarter. Institutional investors own 97.08% of the company’s stock.

Prothena Trading Up 0.5%

Shares of NASDAQ:PRTA opened at $6.43 on Tuesday. The firm’s 50 day moving average is $6.13 and its two-hundred day moving average is $10.59. Prothena Corporation plc has a 52 week low of $4.32 and a 52 week high of $25.42. The firm has a market capitalization of $346.11 million, a P/E ratio of -3.09 and a beta of 0.01.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.20). Prothena had a negative net margin of 79.94% and a negative return on equity of 21.61%. The firm had revenue of $2.83 million during the quarter, compared to analyst estimates of $8.18 million. During the same quarter in the previous year, the business posted ($1.34) EPS. Prothena’s revenue for the quarter was up 5500.0% compared to the same quarter last year. Analysts predict that Prothena Corporation plc will post -4.04 EPS for the current year.

Wall Street Analyst Weigh In

PRTA has been the topic of several research analyst reports. JMP Securities reduced their price target on shares of Prothena from $78.00 to $29.00 and set a “market outperform” rating on the stock in a research report on Tuesday, May 27th. Jefferies Financial Group lowered shares of Prothena from a “buy” rating to a “hold” rating and set a $6.00 price objective on the stock. in a research note on Tuesday, May 27th. Bank of America reiterated an “underperform” rating on shares of Prothena in a research note on Wednesday, May 28th. Piper Sandler dropped their price objective on shares of Prothena from $110.00 to $81.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 27th. Finally, Oppenheimer lowered shares of Prothena from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.50.

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.