Prothena (NASDAQ:PRTA) Stock Price Down 5.9% – Here’s What Happened

Prothena Corporation plc (NASDAQ:PRTA)’s share price traded down 5.9% during mid-day trading on Monday . The company traded as low as $10.20 and last traded at $10.0960. 96,826 shares traded hands during trading, a decline of 80% from the average session volume of 486,328 shares. The stock had previously closed at $10.73.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada boosted their price target on shares of Prothena from $11.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. Weiss Ratings downgraded Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, April 27th. Citizens Jmp raised their target price on Prothena from $19.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday. Stifel Nicolaus set a $19.00 target price on shares of Prothena in a research report on Friday, March 13th. Finally, Citigroup restated an “outperform” rating on shares of Prothena in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.78.

Prothena Price Performance

The firm’s 50-day simple moving average is $9.92 and its two-hundred day simple moving average is $9.81. The company has a market capitalization of $506.22 million, a price-to-earnings ratio of -3.43, a price-to-earnings-growth ratio of 0.38 and a beta of -0.23.

Prothena (NASDAQ:PRTA) last issued its earnings results on Thursday, May 7th. The biotechnology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.91. The company had revenue of $51.08 million for the quarter, compared to analyst estimates of $0.81 million. Prothena had a negative net margin of 260.92% and a negative return on equity of 43.44%. On average, analysts expect that Prothena Corporation plc will post 0.69 EPS for the current fiscal year.

Institutional Trading of Prothena

Large investors have recently modified their holdings of the business. CWM LLC grew its position in shares of Prothena by 650.1% in the third quarter. CWM LLC now owns 10,246 shares of the biotechnology company’s stock valued at $100,000 after purchasing an additional 8,880 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Prothena in the fourth quarter valued at approximately $100,000. Inscription Capital LLC acquired a new stake in Prothena during the third quarter worth approximately $102,000. PDT Partners LLC acquired a new stake in Prothena during the fourth quarter worth approximately $108,000. Finally, DRW Securities LLC acquired a new stake in Prothena during the fourth quarter worth approximately $114,000. 97.08% of the stock is currently owned by institutional investors and hedge funds.

About Prothena

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.