Systematic Financial Management LP Purchases 39,771 Shares of Prothena Co. plc (NASDAQ:PRTA)

Systematic Financial Management LP lifted its position in shares of Prothena Co. plc (NASDAQ:PRTA) by 25.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 193,763 shares of the biotechnology company’s stock after purchasing an additional 39,771 shares during the period. Systematic Financial Management LP owned 0.36% of Prothena worth $3,999,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PRTA. Signaturefd LLC increased its holdings in Prothena by 182.1% during the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock worth $28,000 after buying an additional 863 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Prothena by 265.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock worth $56,000 after buying an additional 1,122 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Prothena during the first quarter worth about $96,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Prothena by 13.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after buying an additional 1,186 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in Prothena during the fourth quarter worth about $222,000. 97.08% of the stock is owned by institutional investors.

Prothena Trading Down 0.4 %

PRTA stock opened at $20.05 on Monday. Prothena Co. plc has a 12 month low of $18.69 and a 12 month high of $55.89. The firm has a market capitalization of $1.08 billion, a P/E ratio of -6.17 and a beta of 0.18. The firm has a 50 day moving average of $21.52 and a 200-day moving average of $21.89.

Prothena (NASDAQ:PRTA) last announced its earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $2.23. Prothena had a negative net margin of 23.44% and a negative return on equity of 9.00%. The business had revenue of $132.01 million during the quarter, compared to analyst estimates of $10.73 million. During the same period in the previous year, the business posted ($1.03) earnings per share. Prothena’s revenue for the quarter was up 3184.7% on a year-over-year basis. Sell-side analysts predict that Prothena Co. plc will post -2.31 EPS for the current year.

Analyst Ratings Changes

PRTA has been the subject of a number of research analyst reports. Oppenheimer decreased their price objective on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research note on Monday, August 12th. Finally, Royal Bank of Canada reduced their target price on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Prothena has a consensus rating of “Moderate Buy” and an average price target of $62.86.

Prothena 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.