Prothena (NASDAQ:PRTA) Share Price Passes Above 50-Day Moving Average – Time to Sell?
by Tristan Rich · The Markets DailyProthena Corporation plc (NASDAQ:PRTA – Get Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $9.18 and traded as high as $9.95. Prothena shares last traded at $9.81, with a volume of 625,843 shares changing hands.
Analyst Ratings Changes
A number of equities research analysts have weighed in on PRTA shares. Citigroup reiterated a “market outperform” rating on shares of Prothena in a research report on Monday, December 1st. Chardan Capital upgraded shares of Prothena to a “strong-buy” rating in a report on Wednesday, November 19th. Citizens Jmp set a $19.00 price objective on shares of Prothena in a research report on Monday, December 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Prothena in a report on Monday, December 29th. Finally, Royal Bank Of Canada boosted their target price on Prothena from $11.00 to $12.00 and gave the company a “sector perform” rating in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.00.
Check Out Our Latest Stock Report on Prothena
Prothena Price Performance
The company has a market capitalization of $528.07 million, a PE ratio of -2.16, a price-to-earnings-growth ratio of 0.64 and a beta of -0.24. The stock’s 50 day simple moving average is $9.18 and its 200-day simple moving average is $9.51.
Prothena (NASDAQ:PRTA – Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.01. Prothena had a negative net margin of 2,520.57% and a negative return on equity of 65.89%. The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.67 million. On average, equities analysts predict that Prothena Corporation plc will post -4.04 earnings per share for the current year.
Hedge Funds Weigh In On Prothena
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC acquired a new position in shares of Prothena during the second quarter worth about $1,270,000. Prospera Financial Services Inc acquired a new stake in Prothena in the second quarter valued at approximately $61,000. Birchview Capital LP raised its holdings in Prothena by 35.5% in the second quarter. Birchview Capital LP now owns 451,019 shares of the biotechnology company’s stock valued at $2,738,000 after acquiring an additional 118,045 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Prothena in the third quarter worth approximately $876,000. Finally, Federated Hermes Inc. grew its holdings in Prothena by 116.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,181,087 shares of the biotechnology company’s stock worth $7,169,000 after acquiring an additional 634,832 shares in the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.
Prothena Company Profile
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.