Massachusetts Financial Services Co. MA Invests $621,000 in Prothena Co. plc (NASDAQ:PRTA)

Massachusetts Financial Services Co. MA acquired a new position in Prothena Co. plc (NASDAQ:PRTA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,815 shares of the biotechnology company's stock, valued at approximately $621,000. Massachusetts Financial Services Co. MA owned approximately 0.08% of Prothena as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC increased its holdings in Prothena by 196.5% during the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company's stock worth $102,000 after buying an additional 4,858 shares during the last quarter. Franklin Resources Inc. acquired a new position in Prothena during the fourth quarter worth $273,000. Wellington Management Group LLP increased its holdings in Prothena by 22.8% during the fourth quarter. Wellington Management Group LLP now owns 5,130,876 shares of the biotechnology company's stock worth $71,063,000 after buying an additional 952,088 shares during the last quarter. Norges Bank acquired a new position in shares of Prothena in the fourth quarter valued at $796,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Prothena by 93.7% in the fourth quarter. JPMorgan Chase & Co. now owns 387,350 shares of the biotechnology company's stock valued at $5,365,000 after purchasing an additional 187,364 shares during the last quarter. Institutional investors own 97.08% of the company's stock.

Wall Street Analyst Weigh In

PRTA has been the topic of several research reports. Piper Sandler upped their price objective on shares of Prothena from $94.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Oppenheimer boosted their target price on shares of Prothena from $58.00 to $62.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Chardan Capital reissued a "buy" rating and issued a $40.00 target price on shares of Prothena in a research report on Friday, February 21st. Cantor Fitzgerald reissued an "overweight" rating on shares of Prothena in a research report on Friday, February 21st. Finally, HC Wainwright reissued a "buy" rating and issued a $48.00 target price on shares of Prothena in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Prothena currently has a consensus rating of "Moderate Buy" and an average price target of $55.00.

Check Out Our Latest Research Report on PRTA

Prothena Stock Performance

Shares of NASDAQ:PRTA opened at $10.26 on Thursday. The company's 50-day moving average is $13.53 and its 200 day moving average is $14.88. The company has a market capitalization of $552.27 million, a P/E ratio of -4.46 and a beta of 0.07. Prothena Co. plc has a fifty-two week low of $9.30 and a fifty-two week high of $25.42.

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

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