Putnam Investments LLC Has $894,000 Stake in Prothena Co. plc (NASDAQ:PRTA)

Putnam Investments LLC lifted its position in shares of Prothena Co. plc (NASDAQ:PRTA – Get Rating) by 9.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,756 shares of the biotechnology company’s stock after purchasing an additional 1,272 shares during the quarter. Putnam Investments LLC’s holdings in Prothena were worth $894,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Quantamental Technologies LLC purchased a new stake in Prothena in the 3rd quarter valued at $310,000. Eventide Asset Management LLC purchased a new stake in Prothena in the 3rd quarter valued at $13,945,000. Ensign Peak Advisors Inc raised its position in Prothena by 23.8% in the 3rd quarter. Ensign Peak Advisors Inc now owns 61,757 shares of the biotechnology company’s stock valued at $3,745,000 after buying an additional 11,880 shares during the last quarter. Federated Hermes Inc. raised its position in Prothena by 7,675.6% in the 3rd quarter. Federated Hermes Inc. now owns 350,137 shares of the biotechnology company’s stock valued at $21,229,000 after buying an additional 345,634 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Prothena by 17.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 140,192 shares of the biotechnology company’s stock valued at $8,501,000 after buying an additional 20,828 shares during the last quarter. 91.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on PRTA. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of Prothena in a research report on Friday, February 24th. Piper Sandler started coverage on Prothena in a research note on Friday, January 27th. They issued an “overweight” rating and a $94.00 price objective for the company. Cantor Fitzgerald upped their price objective on Prothena from $91.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, December 21st. Citigroup reduced their price objective on Prothena from $76.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, February 27th. Finally, Oppenheimer upped their price objective on Prothena from $110.00 to $120.00 in a research note on Tuesday, November 15th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Prothena currently has a consensus rating of “Moderate Buy” and an average price target of $82.50.

Insiders Place Their Bets

In other Prothena news, Director Richard T. Collier sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $52.67, for a total value of $263,350.00. Following the completion of the transaction, the director now owns 1,219 shares in the company, valued at approximately $64,204.73. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Prothena news, Director Richard T. Collier sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $52.67, for a total value of $263,350.00. Following the sale, the director now 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 accessible through this hyperlink. Also, CFO Tran Nguyen sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $53.34, for a total value of $533,400.00. Following the transaction, the chief financial officer now directly owns 3,200 shares in the company, valued at $170,688. The disclosure for this sale can be found here. Insiders sold a total of 55,834 shares of company stock worth $3,092,737 in the last quarter. 31.20% of the stock is owned by company insiders.

Prothena Stock Performance

PRTA stock opened at $48.42 on Tuesday. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -19.29 and a beta of 0.41. Prothena Co. plc has a fifty-two week low of $21.06 and a fifty-two week high of $66.47. The stock has a fifty day moving average of $54.21 and a 200-day moving average of $52.25.

Prothena (NASDAQ:PRTA – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The biotechnology company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.76. Prothena had a negative return on equity of 24.98% and a negative net margin of 216.95%. The company had revenue of $49.90 million during the quarter, compared to the consensus estimate of $29.14 million. During the same quarter in the prior year, the company earned ($0.71) EPS. The firm’s quarterly revenue was up 4058.3% compared to the same quarter last year. Equities analysts predict that Prothena Co. plc will post -3.59 EPS for the current year.

About Prothena

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Prothena Corp. Plc is a clinical-stage neuroscience company. It focuses on the discovery and development of novel therapies to change the course of devastating diseases. The firm’s clinical pipeline includes both wholly-owned and partnered programs being developed for the potential treatment of diseases including AL amyloidosis, ATTR amyloidosis, Alzheimer’s disease, Parkinson’s disease and other neurodegenerative diseases.