Allspring Global Investments Holdings LLC Trims Holdings in Prothena Co. plc (NASDAQ:PRTA)

Allspring Global Investments Holdings LLC decreased its stake in shares of Prothena Co. plc (NASDAQ:PRTAGet Rating) by 2.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,757 shares of the biotechnology company’s stock after selling 351 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Prothena were worth $773,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. purchased a new position in Prothena during the third quarter worth approximately $27,000. Hunter Perkins Capital Management LLC purchased a new stake in Prothena in the third quarter valued at $249,000. Hussman Strategic Advisors Inc. raised its position in Prothena by 100.0% in the second quarter. Hussman Strategic Advisors Inc. now owns 31,200 shares of the biotechnology company’s stock valued at $847,000 after purchasing an additional 15,600 shares during the period. Legal & General Group Plc raised its position in Prothena by 9.5% in the second quarter. Legal & General Group Plc now owns 16,069 shares of the biotechnology company’s stock valued at $437,000 after purchasing an additional 1,394 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Prothena by 4.5% in the second quarter. Goldman Sachs Group Inc. now owns 270,184 shares of the biotechnology company’s stock valued at $7,335,000 after purchasing an additional 11,621 shares during the period. Hedge funds and other institutional investors own 91.72% of the company’s stock.

Wall Street Analysts Forecast Growth

PRTA has been the topic of a number of research analyst reports. Cantor Fitzgerald lifted their target price on Prothena from $91.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday, December 21st. Bank of America upgraded Prothena from a “neutral” rating to a “buy” rating and lifted their target price for the company from $45.00 to $65.00 in a research report on Wednesday, September 28th. StockNews.com initiated coverage on Prothena in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. JMP Securities lifted their target price on Prothena from $50.00 to $81.00 in a research report on Wednesday, September 28th. Finally, Citigroup lifted their price objective on Prothena from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Prothena presently has an average rating of “Moderate Buy” and a consensus price target of $81.67.

Insider Buying and Selling

In related news, insider Lars Ekman sold 15,833 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $62.88, for a total transaction of $995,579.04. Following the completion of the transaction, the insider now directly owns 243 shares of the company’s stock, valued at approximately $15,279.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Richard T. Collier sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $52.67, for a total transaction of $263,350.00. Following the completion of the transaction, the director now directly owns 1,219 shares of the company’s stock, valued at approximately $64,204.73. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lars Ekman sold 15,833 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $62.88, for a total value of $995,579.04. Following the transaction, the insider now directly owns 243 shares of the company’s stock, valued at $15,279.84. The disclosure for this sale can be found here. Insiders sold 126,667 shares of company stock valued at $7,462,416 in the last three months. 31.20% of the stock is owned by corporate insiders.

Prothena Trading Up 1.1 %

Shares of NASDAQ PRTA opened at $54.56 on Monday. Prothena Co. plc has a twelve month low of $21.06 and a twelve month high of $66.47. The stock has a fifty day simple moving average of $58.16 and a 200-day simple moving average of $46.46. The stock has a market capitalization of $2.64 billion, a PE ratio of -16.34 and a beta of 0.52.

Prothena (NASDAQ:PRTAGet Rating) last released its earnings results on Thursday, November 3rd. The biotechnology company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.66). Prothena had a negative return on equity of 36.46% and a negative net margin of 3,036.03%. The company had revenue of $1.52 million for the quarter, compared to analyst estimates of $26.74 million. On average, equities analysts predict that Prothena Co. plc will post -2.88 earnings per share for the current year.

About Prothena

(Get Rating)

Prothena Corporation plc, a late-stage clinical company, focuses on discovery and development of novel therapies for life-threatening diseases 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, which is in Phase IIb clinical trial for the treatment of Parkinson's disease; PRX004 that completed Phase I clinical trial for the treatment of Transthyretin amyloidosis; and PRX005, which is in Phase I clinical trial for the treatment of Alzheimer's disease.

Recommended Stories

Want to see what other hedge funds are holding PRTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prothena Co. plc (NASDAQ:PRTAGet Rating).

Institutional Ownership by Quarter for Prothena (NASDAQ:PRTA)

Receive News & Ratings for Prothena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prothena and related companies with MarketBeat.com's FREE daily email newsletter.