1,018,177 Shares in Prothena Corporation plc $PRTA Bought by Acadian Asset Management LLC

Acadian Asset Management LLC acquired a new position in Prothena Corporation plc (NASDAQ:PRTA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,018,177 shares of the biotechnology company’s stock, valued at approximately $6,176,000. Acadian Asset Management LLC owned approximately 1.89% of Prothena as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Prospera Financial Services Inc bought a new position in shares of Prothena during the second quarter valued at about $61,000. Corton Capital Inc. bought a new stake in shares of Prothena in the second quarter worth about $85,000. Los Angeles Capital Management LLC purchased a new position in Prothena during the 2nd quarter valued at about $101,000. Mogy Joel R Investment Counsel Inc. bought a new position in Prothena during the 2nd quarter valued at approximately $126,000. Finally, Purkiss Capital Advisors LLC raised its position in Prothena by 15.1% during the 2nd quarter. Purkiss Capital Advisors LLC now owns 24,904 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 3,275 shares during the last quarter. Institutional investors own 97.08% of the company’s stock.

Prothena Stock Up 3.5%

Shares of NASDAQ PRTA opened at $10.85 on Thursday. Prothena Corporation plc has a 52 week low of $4.32 and a 52 week high of $17.94. The business’s 50 day moving average price is $9.63 and its 200 day moving average price is $7.83. The firm has a market cap of $584.06 million, a P/E ratio of -1.92 and a beta of -0.09.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%. The firm had revenue of $2.42 million during the quarter, compared to analyst estimates of $6.64 million. As a group, research analysts expect that Prothena Corporation plc will post -4.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRTA shares. HC Wainwright increased their price objective on shares of Prothena from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Piper Sandler increased their target price on Prothena from $15.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Wall Street Zen raised shares of Prothena from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Royal Bank Of Canada raised their price target on shares of Prothena from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research note on Friday, November 7th. Finally, JMP Securities decreased their price objective on shares of Prothena from $29.00 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday, September 2nd. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.78.

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.