Morgan Stanley Has $4.63 Million Stake in Prothena Corporation PLC (PRTA)
Morgan Stanley lowered its stake in Prothena Corporation PLC (NASDAQ:PRTA) by 40.5% during the first quarter, Holdings Channel reports. The fund owned 83,046 shares of the biotechnology company’s stock after selling 56,543 shares during the period. Morgan Stanley’s holdings in Prothena Corporation PLC were worth $4,633,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in PRTA. Ameritas Investment Partners Inc. bought a new stake in Prothena Corporation PLC during the first quarter valued at about $167,000. Stifel Financial Corp bought a new stake in Prothena Corporation PLC during the first quarter valued at about $224,000. Karp Capital Management Corp bought a new stake in Prothena Corporation PLC during the first quarter valued at about $243,000. OMERS ADMINISTRATION Corp bought a new stake in Prothena Corporation PLC during the first quarter valued at about $273,000. Finally, Principal Financial Group Inc. raised its stake in Prothena Corporation PLC by 1.2% in the first quarter. Principal Financial Group Inc. now owns 6,528 shares of the biotechnology company’s stock valued at $364,000 after buying an additional 77 shares during the last quarter.
Prothena Corporation PLC (NASDAQ:PRTA) traded up 1.0469% during trading on Friday, hitting $56.2225. The stock had a trading volume of 36,122 shares. The firm’s market capitalization is $2.15 billion. Prothena Corporation PLC has a 1-year low of $40.58 and a 1-year high of $69.53. The firm has a 50 day moving average price of $60.52 and a 200-day moving average price of $54.85.
Prothena Corporation PLC (NASDAQ:PRTA) last posted its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.46) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.89) by $0.43. Prothena Corporation PLC had a negative net margin of 527.56% and a negative return on equity of 34.50%. The firm had revenue of $26.81 million for the quarter, compared to analysts’ expectations of $16.08 million. During the same quarter last year, the firm earned ($1.18) EPS. The company’s quarterly revenue was up 7951.1% compared to the same quarter last year. On average, equities research analysts expect that Prothena Corporation PLC will post ($4.54) EPS for the current year.
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Several research firms have issued reports on PRTA. Zacks Investment Research upgraded Prothena Corporation PLC from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Tuesday, April 18th. BidaskClub lowered Prothena Corporation PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC began coverage on Prothena Corporation PLC in a research note on Monday, July 10th. They issued a “buy” rating and a $100.00 price objective on the stock. Oppenheimer Holdings, Inc. set a $70.00 price objective on Prothena Corporation PLC and gave the company a “buy” rating in a research note on Thursday, May 11th. Finally, BTIG Research began coverage on Prothena Corporation PLC in a research note on Friday, May 19th. They issued a “buy” rating and a $80.00 price objective on the stock. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $77.09.
In other Prothena Corporation PLC news, insider Karin L. Walker sold 5,000 shares of Prothena Corporation PLC stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $64.89, for a total transaction of $324,450.00. Following the transaction, the insider now owns 5,000 shares of the company’s stock, valued at approximately $324,450. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dennis J. Selkoe sold 3,500 shares of Prothena Corporation PLC stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $58.11, for a total transaction of $203,385.00. Following the transaction, the director now directly owns 6,345 shares in the company, valued at approximately $368,707.95. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.
Prothena Corporation PLC Company Profile
Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).
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