Prothena Co. plc (NASDAQ:PRTA – Get Free Report) was the target of a large decline in short interest in May. As of May 31st, there was short interest totalling 4,410,000 shares, a decline of 50.7% from the May 15th total of 8,950,000 shares. Based on an average daily trading volume, of 1,350,000 shares, the days-to-cover ratio is currently 3.3 days. Currently, 10.4% of the shares of the stock are sold short.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on PRTA. Cantor Fitzgerald downgraded Prothena from an “overweight” rating to a “neutral” rating in a research note on Tuesday, May 27th. Wall Street Zen raised Prothena from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Oppenheimer lowered shares of Prothena from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 27th. Bank of America restated an “underperform” rating on shares of Prothena in a report on Wednesday, May 28th. Finally, Royal Bank of Canada cut their target price on Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Prothena currently has an average rating of “Hold” and an average target price of $31.50.
Read Our Latest Research Report on Prothena
Prothena Trading Up 11.4%
Prothena (NASDAQ:PRTA – Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.20). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The business had revenue of $2.83 million for the quarter, compared to analyst estimates of $8.18 million. During the same quarter in the previous year, the company posted ($1.34) EPS. The business’s quarterly revenue was up 5500.0% on a year-over-year basis. On average, equities research analysts predict that Prothena will post -4.04 earnings per share for the current fiscal year.
Institutional Trading of Prothena
A number of large investors have recently bought and sold shares of PRTA. Rhumbline Advisers grew its position in shares of Prothena by 1.8% in the fourth quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock valued at $930,000 after purchasing an additional 1,175 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Prothena by 35.7% during the fourth quarter. Handelsbanken Fonder AB now owns 20,900 shares of the biotechnology company’s stock valued at $289,000 after buying an additional 5,500 shares during the period. Bank of New York Mellon Corp increased its position in shares of Prothena by 14.9% during the fourth quarter. Bank of New York Mellon Corp now owns 150,238 shares of the biotechnology company’s stock valued at $2,081,000 after buying an additional 19,452 shares during the period. Purkiss Capital Advisors LLC bought a new position in shares of Prothena in the fourth quarter valued at approximately $149,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Prothena by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 327,151 shares of the biotechnology company’s stock worth $4,531,000 after acquiring an additional 2,189 shares during the period. 97.08% of the stock is owned by hedge funds and other institutional investors.
About Prothena
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.
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