Focused Wealth Management Inc Grows Position in Prothena Corporation plc $PRTA

Focused Wealth Management Inc raised its position in Prothena Corporation plc (NASDAQ:PRTA) by 93.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 207,403 shares of the biotechnology company’s stock after buying an additional 99,924 shares during the quarter. Focused Wealth Management Inc owned approximately 0.39% of Prothena worth $2,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in Prothena by 479.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 735,765 shares of the biotechnology company’s stock valued at $7,181,000 after purchasing an additional 608,814 shares during the last quarter. DCF Advisers LLC grew its position in Prothena by 28.3% during the 3rd quarter. DCF Advisers LLC now owns 200,747 shares of the biotechnology company’s stock worth $1,959,000 after purchasing an additional 44,247 shares during the last quarter. Brooklyn Investment Group grew its position in Prothena by 13.1% during the 3rd quarter. Brooklyn Investment Group now owns 12,569 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 1,456 shares during the last quarter. DRW Securities LLC acquired a new position in Prothena in the fourth quarter valued at $114,000. Finally, Voleon Capital Management LP acquired a new position in Prothena in the second quarter valued at $113,000. 97.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PRTA shares. Citizens Jmp increased their target price on shares of Prothena from $19.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Citigroup restated an “outperform” rating on shares of Prothena in a research report on Friday, May 8th. Wall Street Zen raised Prothena from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings cut Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Finally, Stifel Nicolaus set a $19.00 target price on Prothena in a research note on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Insider Buying and Selling at Prothena

In related news, major shareholder William P. Scully purchased 125,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $8.17 per share, for a total transaction of $1,021,250.00. Following the acquisition, the insider directly owned 1,061,000 shares of the company’s stock, valued at $8,668,370. This trade represents a 13.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have acquired 345,000 shares of company stock worth $3,097,250. Corporate insiders own 10.40% of the company’s stock.

Prothena Price Performance

Prothena stock opened at $9.55 on Wednesday. Prothena Corporation plc has a 1-year low of $5.83 and a 1-year high of $11.80. The company has a market cap of $499.94 million, a PE ratio of -3.39, a price-to-earnings-growth ratio of 1.46 and a beta of -0.25. The stock’s 50 day moving average price is $9.78 and its 200 day moving average price is $9.55.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.91. Prothena had a negative return on equity of 43.44% and a negative net margin of 260.92%.The firm had revenue of $51.08 million during the quarter, compared to analysts’ expectations of $0.81 million. On average, equities research analysts anticipate that Prothena Corporation plc will post 0.18 EPS for the current fiscal year.

Prothena Profile

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.