Squarepoint Ops LLC Takes $1.27 Million Position in Prothena Corporation plc $PRTA

Squarepoint Ops LLC purchased a new stake in shares of Prothena Corporation plc (NASDAQ:PRTA) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 209,249 shares of the biotechnology company’s stock, valued at approximately $1,270,000. Squarepoint Ops LLC owned 0.39% of Prothena at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PRTA. Tower Research Capital LLC TRC boosted its position in Prothena by 571.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 10,815 shares in the last quarter. Monimus Capital Management LP purchased a new position in shares of Prothena in the 2nd quarter valued at approximately $1,253,000. Voleon Capital Management LP bought a new stake in shares of Prothena during the second quarter valued at approximately $113,000. Rangeley Capital LLC purchased a new stake in Prothena in the second quarter worth $4,342,000. Finally, Man Group plc raised its holdings in Prothena by 151.5% in the second quarter. Man Group plc now owns 42,752 shares of the biotechnology company’s stock worth $260,000 after purchasing an additional 25,752 shares in the last quarter. 97.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. HC Wainwright boosted their target price on shares of Prothena from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday, November 7th. Chardan Capital raised shares of Prothena to a “strong-buy” rating in a research note on Wednesday, November 19th. UBS Group set a $36.00 target price on shares of Prothena in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prothena in a report on Monday, December 8th. Finally, Piper Sandler upped their price target on Prothena from $15.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $25.60.

Prothena Stock Performance

Shares of Prothena stock opened at $9.21 on Friday. The company has a 50-day simple moving average of $10.29 and a two-hundred day simple moving average of $8.45. The stock has a market capitalization of $495.77 million, a PE ratio of -1.76 and a beta of -0.10. Prothena Corporation plc has a 52-week low of $4.32 and a 52-week high of $16.67.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Prothena had a negative net margin of 2,379.59% and a negative return on equity of 65.89%. The firm had revenue of $2.42 million for the quarter, compared to the consensus estimate of $6.64 million. As a group, equities research analysts forecast that Prothena Corporation plc will post -4.04 EPS for the current fiscal year.

Prothena Profile

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.