Finepoint Capital LP Purchases 223,600 Shares of Prothena Co. plc (NASDAQ:PRTA)

Finepoint Capital LP boosted its position in Prothena Co. plc (NASDAQ:PRTA) by 51.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 657,071 shares of the biotechnology company’s stock after purchasing an additional 223,600 shares during the period. Prothena comprises 0.6% of Finepoint Capital LP’s portfolio, making the stock its 15th biggest holding. Finepoint Capital LP’s holdings in Prothena were worth $9,100,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new position in shares of Prothena in the fourth quarter worth approximately $621,000. Headlands Technologies LLC boosted its stake in shares of Prothena by 196.5% during the 4th 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 last quarter. Franklin Resources Inc. bought a new stake in shares of Prothena during the 4th quarter valued at $273,000. Wellington Management Group LLP raised its holdings in Prothena by 22.8% in the 4th quarter. Wellington Management Group LLP now owns 5,130,876 shares of the biotechnology company’s stock worth $71,063,000 after purchasing an additional 952,088 shares during the period. Finally, Norges Bank purchased a new position in Prothena during the fourth quarter valued at $796,000. 97.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. HC Wainwright restated a “buy” rating and issued a $48.00 price target on shares of Prothena in a research report on Friday, February 21st. Oppenheimer increased their target price on shares of Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Chardan Capital reaffirmed a “buy” rating and set a $40.00 price target on shares of Prothena in a report on Friday, February 21st. Piper Sandler increased their price objective on shares of Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Prothena Stock Performance

Shares of NASDAQ PRTA opened at $10.86 on Friday. The company has a market cap of $584.56 million, a P/E ratio of -4.72 and a beta of -0.02. Prothena Co. plc has a 52-week low of $10.68 and a 52-week high of $25.42. The firm’s fifty day moving average is $14.02 and its two-hundred day moving average is $15.23.

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

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.