Cary Street Partners Financial LLC Invests $173,000 in Prothena Co. plc (NASDAQ:PRTA)

Cary Street Partners Financial LLC bought a new stake in Prothena Co. plc (NASDAQ:PRTA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,500 shares of the biotechnology company’s stock, valued at approximately $173,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRTA. Balyasny Asset Management L.P. purchased a new position in Prothena during the fourth quarter worth approximately $527,000. Bank of America Corp DE increased its stake in shares of Prothena by 45.0% in the 4th quarter. Bank of America Corp DE now owns 119,007 shares of the biotechnology company’s stock worth $1,648,000 after acquiring an additional 36,944 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Prothena by 74.4% during the 4th quarter. BNP Paribas Financial Markets now owns 97,383 shares of the biotechnology company’s stock worth $1,349,000 after acquiring an additional 41,541 shares during the period. Boxer Capital Management LLC purchased a new position in shares of Prothena during the 4th quarter worth $9,556,000. Finally, PDT Partners LLC boosted its position in shares of Prothena by 15.0% during the 4th quarter. PDT Partners LLC now owns 127,203 shares of the biotechnology company’s stock valued at $1,762,000 after acquiring an additional 16,549 shares during the last quarter. 97.08% of the stock is owned by hedge funds and other institutional investors.

Prothena Trading Up 4.6%

Shares of NASDAQ:PRTA opened at $7.43 on Monday. Prothena Co. plc has a 52 week low of $6.92 and a 52 week high of $25.42. The company’s 50 day moving average is $11.10 and its two-hundred day moving average is $13.56. The company has a market cap of $399.93 million, a PE ratio of -3.23 and a beta of 0.11.

Prothena (NASDAQ:PRTA) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.20). Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The business had revenue of $2.83 million during the quarter, compared to analysts’ expectations of $8.18 million. During the same period last year, the company earned ($1.34) EPS. The business’s quarterly revenue was up 5500.0% compared to the same quarter last year. As a group, equities research analysts expect that Prothena Co. plc will post -4.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PRTA. JMP Securities cut their price objective on Prothena from $80.00 to $78.00 and set a “market outperform” rating for the company in a research report on Friday. HC Wainwright lowered their price objective on shares of Prothena from $48.00 to $30.00 and set a “buy” rating for the company in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research note on Friday, February 21st. Royal Bank of Canada reduced their target price on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Finally, Oppenheimer boosted their price target on shares of Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.71.

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.