Hsbc Holdings PLC Grows Holdings in Prothena Co. plc (NASDAQ:PRTA)

Hsbc Holdings PLC increased its stake in shares of Prothena Co. plc (NASDAQ:PRTA) by 60.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 24,179 shares of the biotechnology company’s stock after purchasing an additional 9,101 shares during the period. Hsbc Holdings PLC’s holdings in Prothena were worth $323,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC boosted its stake in shares of Prothena by 196.5% in the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 4,858 shares during the period. Teacher Retirement System of Texas purchased a new position in Prothena in the 4th quarter valued at approximately $145,000. Purkiss Capital Advisors LLC acquired a new position in shares of Prothena in the fourth quarter worth $149,000. China Universal Asset Management Co. Ltd. increased its position in shares of Prothena by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock worth $158,000 after acquiring an additional 1,065 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Prothena in the fourth quarter valued at $159,000. Institutional investors and hedge funds own 97.08% of the company’s stock.

Prothena Trading Down 2.6 %

Shares of Prothena stock opened at $7.10 on Friday. The company has a fifty day simple moving average of $11.25 and a 200-day simple moving average of $13.66. Prothena Co. plc has a 12-month low of $7.01 and a 12-month high of $25.42. The stock has a market cap of $382.17 million, a price-to-earnings ratio of -3.09 and a beta of 0.11.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.12) earnings per share (EPS) 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%. During the same period in the previous year, the business posted ($1.34) EPS. The firm’s revenue for the quarter was up 5500.0% on a year-over-year basis. On average, analysts forecast that Prothena Co. plc will post -4.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PRTA has been the subject of several analyst reports. Piper Sandler boosted their target price on Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Chardan Capital restated a “buy” rating and set a $40.00 target price on shares of Prothena in a research note on Friday, February 21st. Oppenheimer lifted their price target on shares of Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $48.00 price objective on shares of Prothena in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Prothena Profile

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.