Purkiss Capital Advisors LLC Purchases New Holdings in Prothena Co. plc (NASDAQ:PRTA)

Purkiss Capital Advisors LLC acquired a new stake in shares of Prothena Co. plc (NASDAQ:PRTA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,729 shares of the biotechnology company’s stock, valued at approximately $149,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of Prothena by 14.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock valued at $69,911,000 after buying an additional 539,359 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prothena by 1,122.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company’s stock valued at $8,812,000 after acquiring an additional 483,673 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Prothena by 14.9% during the 4th quarter. Bank of New York Mellon Corp now owns 150,238 shares of the biotechnology company’s stock valued at $2,081,000 after acquiring an additional 19,452 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in Prothena by 2.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company’s stock worth $2,104,000 after acquiring an additional 2,847 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Prothena by 8.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 122,492 shares of the biotechnology company’s stock worth $2,049,000 after purchasing an additional 9,666 shares during the last quarter. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRTA has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America reduced their target price on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. StockNews.com upgraded Prothena from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Chardan Capital restated a “buy” rating and set a $40.00 price objective on shares of Prothena in a research note on Friday, February 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Prothena in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.00.

Prothena Trading Up 4.5 %

Shares of Prothena stock opened at $15.81 on Friday. The stock has a market capitalization of $850.72 million, a price-to-earnings ratio of -6.87 and a beta of 0.08. Prothena Co. plc has a twelve month low of $11.70 and a twelve month high of $30.85. The business’s 50 day simple moving average is $14.44 and its 200-day simple moving average is $16.61.

Prothena (NASDAQ:PRTA) last issued its earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.06). The company had revenue of $2.12 million during the quarter, compared to analyst estimates of $7.53 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. Sell-side analysts predict that Prothena Co. plc will post -4.04 earnings per share for the current year.

Prothena Company 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.