Invesco Ltd. Trims Stock Holdings in Prothena Corporation plc $PRTA

Invesco Ltd. decreased its position in Prothena Corporation plc (NASDAQ:PRTA) by 12.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,638 shares of the biotechnology company’s stock after selling 5,208 shares during the period. Invesco Ltd. owned approximately 0.07% of Prothena worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRTA. GAMMA Investing LLC raised its stake in Prothena by 4,626.0% in the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company’s stock worth $74,000 after acquiring an additional 5,875 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Prothena in the 1st quarter worth $126,000. Cary Street Partners Financial LLC purchased a new position in Prothena in the 4th quarter worth $173,000. Chicago Partners Investment Group LLC raised its stake in Prothena by 29.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 14,512 shares of the biotechnology company’s stock worth $180,000 after acquiring an additional 3,315 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Prothena in the 4th quarter worth $182,000. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Prothena Stock Up 4.1%

NASDAQ:PRTA opened at $8.55 on Friday. Prothena Corporation plc has a 52 week low of $4.32 and a 52 week high of $22.71. The stock has a market capitalization of $460.25 million, a PE ratio of -1.52 and a beta of -0.04. The stock’s 50-day moving average price is $7.32 and its 200-day moving average price is $8.80.

Prothena (NASDAQ:PRTA) last posted its earnings results on Monday, August 4th. The biotechnology company reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.75). Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%. The business had revenue of $4.42 million for the quarter, compared to analyst estimates of $5.36 million. Sell-side analysts expect that Prothena Corporation plc will post -4.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on PRTA. JMP Securities reduced their target price on Prothena from $29.00 to $11.00 and set a “market outperform” rating for the company in a research note on Tuesday. Chardan Capital reaffirmed a “buy” rating and set a $18.00 price target on shares of Prothena in a research report on Thursday, August 28th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Prothena in a research report on Tuesday, August 5th. Oppenheimer lowered Prothena from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 27th. Finally, Bank of America reaffirmed an “underperform” rating on shares of Prothena in a report on Wednesday, May 28th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.75.

Prothena 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.