Prothena Corporation plc $PRTA Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in shares of Prothena Corporation plc (NASDAQ:PRTA) by 41.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 692,818 shares of the biotechnology company’s stock after selling 488,269 shares during the period. Federated Hermes Inc. owned about 1.29% of Prothena worth $6,762,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Purkiss Capital Advisors LLC lifted its holdings in Prothena by 15.1% in the 2nd quarter. Purkiss Capital Advisors LLC now owns 24,904 shares of the biotechnology company’s stock worth $151,000 after buying an additional 3,275 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Prothena by 1.2% during the second quarter. Nordea Investment Management AB now owns 311,605 shares of the biotechnology company’s stock worth $1,916,000 after acquiring an additional 3,618 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Prothena by 9.2% in the third quarter. SG Americas Securities LLC now owns 56,719 shares of the biotechnology company’s stock valued at $554,000 after purchasing an additional 4,778 shares during the last quarter. Virtus Investment Advisers LLC grew its stake in Prothena by 56.0% during the 2nd quarter. Virtus Investment Advisers LLC now owns 18,547 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 6,656 shares in the last quarter. Finally, CWM LLC grew its stake in Prothena by 650.1% during the 3rd quarter. CWM LLC now owns 10,246 shares of the biotechnology company’s stock valued at $100,000 after purchasing an additional 8,880 shares in the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on PRTA. UBS Group set a $36.00 price target on shares of Prothena in a research report on Tuesday, October 28th. Piper Sandler raised their price objective on Prothena from $15.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Royal Bank Of Canada lifted their price target on shares of Prothena from $10.00 to $11.00 and gave the company a “sector perform” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Prothena in a research note on Monday, December 29th. Finally, Citigroup restated a “market outperform” rating on shares of Prothena in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.60.

Prothena Trading Up 1.1%

Shares of NASDAQ:PRTA opened at $8.91 on Tuesday. The firm’s 50 day moving average is $9.72 and its two-hundred day moving average is $9.22. The firm has a market capitalization of $479.63 million, a P/E ratio of -1.71, a PEG ratio of 1.86 and a beta of -0.11. Prothena Corporation plc has a 52 week low of $4.32 and a 52 week high of $16.67.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). Prothena had a negative return on equity of 65.89% and a negative net margin of 2,379.59%.The business had revenue of $2.42 million during the quarter, compared to the consensus estimate of $6.64 million. Analysts predict that Prothena Corporation plc will post -4.04 EPS for the current year.

About Prothena

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.