Key Points
- Major shareholder William Scully bought 100,000 Prothena shares at $9.81 each, spending about $981,000. After the purchase, he owned 836,000 shares, a 13.59% increase in his stake.
- Prothena shares were up 2.3% and opened at $10.06, with the stock trading near its 50-day moving average of $10.02 and above its 200-day average of $9.75.
- The company recently reported better-than-expected quarterly results, posting EPS of $0.60 versus an expected loss and revenue of $51.08 million, while analysts currently rate the stock a consensus Hold with a $23.75 average target price.
Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) major shareholder William Scully purchased 100,000 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $9.81 per share, with a total value of $981,000.00. Following the completion of the acquisition, the insider directly owned 836,000 shares of the company's stock, valued at $8,201,160. This represents a 13.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Prothena Stock Up 2.3%
NASDAQ PRTA opened at $10.06 on Wednesday. The stock has a market capitalization of $526.64 million, a P/E ratio of -3.57, a P/E/G ratio of 1.57 and a beta of -0.23. Prothena Corporation plc has a 52-week low of $4.32 and a 52-week high of $11.80. The firm has a 50-day moving average price of $10.02 and a 200 day moving average price of $9.75.
Prothena (NASDAQ:PRTA - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $51.08 million during the quarter, compared to analysts' expectations of $0.81 million. Prothena had a negative net margin of 260.92% and a negative return on equity of 43.44%. On average, equities research analysts expect that Prothena Corporation plc will post 0.18 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its stake in shares of Prothena by 571.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company's stock worth $77,000 after purchasing an additional 10,815 shares in the last quarter. ProShare Advisors LLC purchased a new position in shares of Prothena during the 4th quarter worth approximately $100,000. PDT Partners LLC purchased a new position in shares of Prothena during the 4th quarter worth approximately $108,000. Voleon Capital Management LP purchased a new position in shares of Prothena during the 2nd quarter worth approximately $113,000. Finally, DRW Securities LLC purchased a new position in shares of Prothena during the 4th quarter worth approximately $114,000. 97.08% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have issued reports on PRTA shares. Stifel Nicolaus set a $19.00 target price on shares of Prothena in a report on Friday, March 13th. Citigroup reaffirmed an "outperform" rating on shares of Prothena in a report on Friday, May 8th. Royal Bank Of Canada increased their target price on shares of Prothena from $11.00 to $12.00 and gave the company a "sector perform" rating in a report on Friday, February 20th. Citizens Jmp increased their target price on shares of Prothena from $19.00 to $20.00 and gave the company a "market outperform" rating in a report on Friday, May 8th. Finally, Weiss Ratings raised shares of Prothena from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Prothena presently has an average rating of "Hold" and an average target price of $23.75.
Get Our Latest Stock Analysis on Prothena
About Prothena
(
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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.
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