Prothena (NASDAQ:PRTA) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Prothena Corporation plc (NASDAQ:PRTA) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.56 and traded as low as $8.76. Prothena shares last traded at $8.82, with a volume of 487,557 shares.

Analyst Upgrades and Downgrades

A number of analysts have commented on PRTA shares. Stifel Nicolaus set a $19.00 price objective on shares of Prothena in a research note on Friday, March 13th. Citizens Jmp set a $19.00 target price on shares of Prothena in a research report on Monday, December 1st. Deutsche Bank Aktiengesellschaft set a $19.00 price target on shares of Prothena in a report on Monday, December 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Prothena in a research note on Monday, December 29th. Finally, Royal Bank Of Canada lifted their price objective on shares of Prothena from $11.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.67.

Prothena Trading Up 0.8%

The firm’s fifty day moving average price is $9.16 and its 200 day moving average price is $9.56. The firm has a market capitalization of $474.78 million, a PE ratio of -1.94, a PEG ratio of 0.59 and a beta of -0.24.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Thursday, February 19th. The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.01. Prothena had a negative return on equity of 65.89% and a negative net margin of 2,520.57%.The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.67 million. As a group, research analysts expect that Prothena Corporation plc will post -4.04 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PRTA. Intech Investment Management LLC grew its holdings in shares of Prothena by 5.5% in the 3rd quarter. Intech Investment Management LLC now owns 19,388 shares of the biotechnology company’s stock worth $189,000 after purchasing an additional 1,014 shares during the last quarter. Brooklyn Investment Group lifted its holdings in Prothena by 13.1% during the 3rd quarter. Brooklyn Investment Group now owns 12,569 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 1,456 shares during the last quarter. Deutsche Bank AG boosted its position in Prothena by 5.1% in the fourth quarter. Deutsche Bank AG now owns 35,482 shares of the biotechnology company’s stock valued at $339,000 after buying an additional 1,709 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Prothena by 3.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 81,515 shares of the biotechnology company’s stock valued at $779,000 after buying an additional 2,968 shares in the last quarter. Finally, Virtus Investment Advisers LLC grew its stake in Prothena by 14.4% during the fourth quarter. Virtus Investment Advisers LLC now owns 25,679 shares of the biotechnology company’s stock worth $245,000 after buying an additional 3,236 shares during the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

Prothena Company 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.