Nationwide Fund Advisors Reduces Stake in Prothena Corporation PLC (PRTA)
Nationwide Fund Advisors cut its stake in Prothena Corporation PLC (NASDAQ:PRTA) by 56.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,322 shares of the biotechnology company’s stock after selling 26,182 shares during the quarter. Nationwide Fund Advisors owned approximately 0.05% of Prothena worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Woodford Investment Management Ltd increased its stake in shares of Prothena by 2.6% in the second quarter. Woodford Investment Management Ltd now owns 11,400,424 shares of the biotechnology company’s stock worth $616,991,000 after acquiring an additional 294,213 shares during the last quarter. FMR LLC increased its stake in shares of Prothena by 0.7% in the second quarter. FMR LLC now owns 5,699,234 shares of the biotechnology company’s stock worth $308,443,000 after acquiring an additional 39,926 shares during the last quarter. BlackRock Inc. increased its stake in shares of Prothena by 7.8% in the second quarter. BlackRock Inc. now owns 2,947,512 shares of the biotechnology company’s stock worth $159,519,000 after acquiring an additional 213,578 shares during the last quarter. State Street Corp increased its stake in shares of Prothena by 10.6% in the second quarter. State Street Corp now owns 1,181,365 shares of the biotechnology company’s stock worth $63,932,000 after acquiring an additional 113,193 shares during the last quarter. Finally, Palo Alto Investors LLC boosted its holdings in Prothena by 1.7% in the second quarter. Palo Alto Investors LLC now owns 1,073,955 shares of the biotechnology company’s stock worth $58,122,000 after purchasing an additional 18,100 shares in the last quarter.
A number of equities research analysts recently issued reports on PRTA shares. ValuEngine upgraded shares of Prothena from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Oppenheimer set a $70.00 price objective on shares of Prothena and gave the stock a “buy” rating in a report on Monday, December 4th. Deutsche Bank set a $73.00 price objective on shares of Prothena and gave the stock a “buy” rating in a report on Monday, October 23rd. Cantor Fitzgerald reiterated a “buy” rating and issued a $65.00 price objective on shares of Prothena in a report on Wednesday, December 20th. Finally, Wedbush cut shares of Prothena from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $75.00 to $55.00 in a report on Monday, November 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. Prothena has a consensus rating of “Buy” and a consensus price target of $75.58.
Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($1.37) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.41) by $0.04. The business had revenue of $0.19 million during the quarter, compared to analyst estimates of $0.28 million. Prothena had a negative net margin of 562.19% and a negative return on equity of 34.40%. The firm’s revenue for the quarter was down 33.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.26) earnings per share. equities analysts forecast that Prothena Corporation PLC will post -4.27 EPS for the current fiscal year.
In related news, Director Christopher S. Henney sold 900 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $70.00, for a total value of $63,000.00. Following the completion of the transaction, the director now owns 900 shares of the company’s stock, valued at $63,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis J. Selkoe sold 3,500 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $64.17, for a total transaction of $224,595.00. The disclosure for this sale can be found here. Insiders have sold 7,200 shares of company stock valued at $483,595 in the last ninety days. 3.10% of the stock is owned by company insiders.
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Prothena Company Profile
Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).
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