Federated Hermes Inc. Increases Stock Holdings in Prothena Co. plc (NASDAQ:PRTA)

Federated Hermes Inc. lifted its holdings in Prothena Co. plc (NASDAQ:PRTA) by 84.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 746,177 shares of the biotechnology company’s stock after purchasing an additional 341,274 shares during the period. Federated Hermes Inc. owned about 1.39% of Prothena worth $10,335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Orion Portfolio Solutions LLC increased its position in Prothena by 4.4% in the third quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock worth $293,000 after buying an additional 739 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Prothena by 10.3% during 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 raised its holdings in Prothena by 1.8% during the fourth quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock valued at $930,000 after acquiring an additional 1,175 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Prothena by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 327,151 shares of the biotechnology company’s stock valued at $4,531,000 after acquiring an additional 2,189 shares in the last quarter. Finally, 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 worth $102,000 after acquiring an additional 4,858 shares during the period. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research note on Friday, February 21st. Oppenheimer raised their target price on shares of Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Chardan Capital reiterated a “buy” rating and issued a $40.00 price target on shares of Prothena in a research note on Friday, February 21st. HC Wainwright restated a “buy” rating and set a $48.00 price objective on shares of Prothena in a research report on Friday, February 21st. Finally, Piper Sandler boosted their target price on Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

Prothena Stock Performance

NASDAQ PRTA opened at $9.69 on Friday. The business’s 50 day moving average price is $13.45 and its 200-day moving average price is $14.80. Prothena Co. plc has a fifty-two week low of $9.30 and a fifty-two week high of $25.42. The company has a market cap of $521.58 million, a P/E ratio of -4.21 and a beta of 0.07.

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

Prothena Company 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.