Short Interest in Prothena Co. PLC (NASDAQ:PRTA) Declines By 7.6%

Prothena Co. PLC (NASDAQ:PRTA) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 1,830,000 shares, a drop of 7.6% from the August 30th total of 1,980,000 shares. Based on an average trading volume of 192,500 shares, the short-interest ratio is currently 9.5 days. Approximately 4.6% of the shares of the stock are sold short.

Shares of Prothena stock opened at $7.80 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 14.94 and a quick ratio of 14.95. Prothena has a 1 year low of $6.71 and a 1 year high of $14.77. The company has a market capitalization of $298.43 million, a P/E ratio of -2.16 and a beta of 2.17. The business has a 50 day moving average price of $8.18 and a 200 day moving average price of $9.50.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.40) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.16. The company had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.22 million. Prothena had a negative return on equity of 27.59% and a negative net margin of 10,435.79%. As a group, research analysts expect that Prothena will post -1.97 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Orbimed Advisors LLC raised its holdings in Prothena by 25.9% in the 2nd quarter. Orbimed Advisors LLC now owns 3,065,278 shares of the biotechnology company’s stock valued at $32,400,000 after acquiring an additional 630,000 shares during the last quarter. Platinum Investment Management Ltd. raised its holdings in Prothena by 17.4% in the 2nd quarter. Platinum Investment Management Ltd. now owns 189,991 shares of the biotechnology company’s stock valued at $2,008,000 after acquiring an additional 28,145 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Prothena in the 2nd quarter valued at $2,674,000. UBS Asset Management Americas Inc. raised its holdings in Prothena by 12.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 30,815 shares of the biotechnology company’s stock valued at $326,000 after acquiring an additional 3,495 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in Prothena by 224.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 45,753 shares of the biotechnology company’s stock valued at $484,000 after acquiring an additional 31,665 shares during the last quarter. Institutional investors own 96.83% of the company’s stock.

PRTA has been the subject of several research reports. Zacks Investment Research upgraded Prothena from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Wednesday, June 19th. BidaskClub downgraded Prothena from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 15th. Finally, ValuEngine upgraded Prothena from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Prothena presently has a consensus rating of “Hold” and a consensus price target of $11.26.

About Prothena

Prothena Corporation plc, a clinical-stage neuroscience company, focuses on discovery and development of novel therapies for life-threatening diseases in the United States. The company is involved in developing PRX002/RG7935 that is in Phase II clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, a antibody that is in Phase I clinical trial for the treatment of ATTR amyloidosis.

Recommended Story: What is a balanced fund?

Receive News & Ratings for Prothena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prothena and related companies with MarketBeat.com's FREE daily email newsletter.