Chicago Partners Investment Group LLC Takes Position in Prothena Co. plc (NASDAQ:PRTA)

Chicago Partners Investment Group LLC acquired a new position in shares of Prothena Co. plc (NASDAQ:PRTA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,197 shares of the biotechnology company’s stock, valued at approximately $159,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in shares of Prothena by 14.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock worth $69,911,000 after purchasing an additional 539,359 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Prothena by 1,122.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company’s stock valued at $8,812,000 after purchasing an additional 483,673 shares during the period. Pinnacle Associates Ltd. boosted its holdings in Prothena by 2.3% during the third quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company’s stock worth $2,104,000 after buying an additional 2,847 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Prothena by 8.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 122,492 shares of the biotechnology company’s stock worth $2,049,000 after buying an additional 9,666 shares during the period. Finally, PDT Partners LLC increased its holdings in Prothena by 7.7% in the third quarter. PDT Partners LLC now owns 110,654 shares of the biotechnology company’s stock valued at $1,851,000 after buying an additional 7,946 shares in the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Bank of America decreased their target price on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. HC Wainwright restated a “buy” rating and issued a $48.00 price target (down previously from $84.00) on shares of Prothena in a research report on Friday, December 20th. Finally, Chardan Capital initiated coverage on shares of Prothena in a research report on Friday, December 20th. They issued a “buy” rating and a $40.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.50.

Prothena Stock Up 2.0 %

Shares of NASDAQ:PRTA opened at $14.78 on Thursday. The company has a market capitalization of $795.30 million, a P/E ratio of -5.96 and a beta of 0.08. Prothena Co. plc has a 52-week low of $11.70 and a 52-week high of $31.03. The stock’s fifty day simple moving average is $14.35 and its 200-day simple moving average is $17.50.

Prothena (NASDAQ:PRTA) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.08. The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.22 million. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The firm’s quarterly revenue was down 98.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. On average, sell-side analysts anticipate that Prothena Co. plc will post -2.24 earnings per share for the current year.

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.