Prothena (NASDAQ:PRTA) Share Price Crosses Below 200 Day Moving Average of $26.45

Prothena Co. plc (NASDAQ:PRTA) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.45 and traded as low as $19.95. Prothena shares last traded at $20.07, with a volume of 124,631 shares changing hands.

Wall Street Analyst Weigh In

PRTA has been the topic of a number of research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $28.00 price target on shares of Prothena in a research note on Wednesday, June 26th. HC Wainwright lowered their price objective on Prothena from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. JMP Securities lowered their price objective on Prothena from $85.00 to $83.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Prothena presently has a consensus rating of “Moderate Buy” and an average price target of $66.00.

Prothena Stock Performance

The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -6.18 and a beta of 0.21. The firm has a fifty day moving average price of $21.17 and a 200-day moving average price of $26.45.

Prothena (NASDAQ:PRTA) last released its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.21) by ($0.13). The company had revenue of $0.05 million for the quarter, compared to analyst estimates of $3.75 million. Prothena had a negative return on equity of 30.48% and a negative net margin of 193.17%. During the same period last year, the company posted ($0.89) earnings per share. On average, sell-side analysts forecast that Prothena Co. plc will post -4.69 EPS for the current fiscal year.

Institutional Trading of Prothena

Several large investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky boosted its stake in Prothena by 26.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 14,039 shares of the biotechnology company’s stock valued at $348,000 after buying an additional 2,895 shares in the last quarter. Artal Group S.A. boosted its stake in Prothena by 99.7% in the first quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company’s stock valued at $24,804,000 after buying an additional 500,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Prothena by 5.1% in the first quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock valued at $27,873,000 after buying an additional 54,728 shares in the last quarter. Focused Wealth Management Inc boosted its stake in Prothena by 7,751.9% in the first quarter. Focused Wealth Management Inc now owns 10,129 shares of the biotechnology company’s stock valued at $251,000 after buying an additional 10,000 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Prothena by 8.9% in the first quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after buying an additional 932 shares in the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

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.