Bank of New York Mellon Corp Has $2.08 Million Stake in Prothena Co. plc (NASDAQ:PRTA)

Bank of New York Mellon Corp lifted its stake in shares of Prothena Co. plc (NASDAQ:PRTA) by 14.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 150,238 shares of the biotechnology company’s stock after buying an additional 19,452 shares during the quarter. Bank of New York Mellon Corp’s holdings in Prothena were worth $2,081,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Orion Portfolio Solutions LLC grew its position in Prothena by 4.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock valued at $293,000 after purchasing an additional 739 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Prothena by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 1,065 shares during the period. Rhumbline Advisers grew its position in Prothena by 1.8% in the 4th 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 during the period. The Manufacturers Life Insurance Company grew its position in Prothena by 3.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 86,071 shares of the biotechnology company’s stock valued at $1,440,000 after purchasing an additional 3,163 shares during the period. Finally, Handelsbanken Fonder AB grew its position in Prothena by 35.7% in the 4th quarter. Handelsbanken Fonder AB now owns 20,900 shares of the biotechnology company’s stock valued at $289,000 after purchasing an additional 5,500 shares during the period. Institutional investors and hedge funds own 97.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PRTA. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research report on Friday, February 21st. Bank of America cut their price objective on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Piper Sandler lifted their price objective on shares of Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Finally, Royal Bank of Canada cut their price objective 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.00.

Prothena Price Performance

NASDAQ PRTA opened at $12.97 on Friday. The stock has a market capitalization of $698.14 million, a price-to-earnings ratio of -5.64 and a beta of -0.02. Prothena Co. plc has a one year low of $11.70 and a one year high of $26.37. The business’s fifty day moving average is $14.33 and its 200-day moving average is $15.87.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). The firm had revenue of $2.12 million during the quarter, compared to the consensus estimate of $7.53 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. Research analysts expect that Prothena Co. plc will post -4.04 EPS for the current fiscal year.

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.