Dimensional Fund Advisors LP Reduces Holdings in Prothena Co. plc (NASDAQ:PRTA)

Dimensional Fund Advisors LP trimmed its stake in Prothena Co. plc (NASDAQ:PRTA) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 861,584 shares of the biotechnology company’s stock after selling 1,248 shares during the period. Dimensional Fund Advisors LP owned approximately 1.60% of Prothena worth $17,783,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Signaturefd LLC grew its position in shares of Prothena by 182.1% in the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 863 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Prothena by 265.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 1,122 shares during the last quarter. Headlands Technologies LLC purchased a new position in Prothena during the 1st quarter worth $96,000. ADAR1 Capital Management LLC purchased a new position in Prothena during the 4th quarter worth $222,000. Finally, Focused Wealth Management Inc grew its position in Prothena by 7,751.9% during the 1st quarter. Focused Wealth Management Inc now owns 10,129 shares of the biotechnology company’s stock worth $251,000 after purchasing an additional 10,000 shares during the last quarter. 97.08% of the stock is owned by hedge funds and other institutional investors.

Prothena Stock Up 0.4 %

Shares of NASDAQ:PRTA opened at $16.86 on Friday. The company has a market cap of $906.60 million, a price-to-earnings ratio of -5.19 and a beta of 0.17. The firm’s 50-day simple moving average is $20.91 and its 200-day simple moving average is $21.69. Prothena Co. plc has a fifty-two week low of $15.52 and a fifty-two week high of $55.89.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported $1.22 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 firm had revenue of $132.01 million during the quarter, compared to analysts’ expectations of $10.73 million. During the same quarter last year, the business earned ($1.03) earnings per share. The business’s revenue for the quarter was up 3184.7% compared to the same quarter last year. On average, research analysts forecast that Prothena Co. plc will post -2.31 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on PRTA shares. Royal Bank of Canada lowered their price objective on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. Oppenheimer lowered their price objective on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Finally, Bank of America lowered their target price on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.86.

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.