Key Points
- Major shareholder William Scully bought 50,000 shares of Prothena at $9.43 each, spending about $471,500 and lifting his stake to 886,000 shares.
- Prothena shares opened at $8.92, below the insider’s purchase price, and the stock remains well below its 52-week high of $11.80.
- The biotech company recently beat earnings expectations, reporting $0.60 EPS versus a consensus loss estimate, while analysts currently rate the stock a Moderate Buy with a $23.75 target price.
Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) major shareholder William Scully bought 50,000 shares of the firm's stock in a transaction on Tuesday, June 2nd. The shares were bought at an average cost of $9.43 per share, for a total transaction of $471,500.00. Following the purchase, the insider owned 886,000 shares of the company's stock, valued at approximately $8,354,980. The trade was a 5.98% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Prothena Stock Performance
Shares of PRTA opened at $8.92 on Thursday. Prothena Corporation plc has a 52 week low of $4.66 and a 52 week high of $11.80. The stock has a market capitalization of $466.96 million, a price-to-earnings ratio of -3.16, a PEG ratio of 1.47 and a beta of -0.25. The stock has a fifty day moving average of $10.12 and a 200-day moving average of $9.72.
Prothena (NASDAQ:PRTA - Get Free Report) last issued its earnings results on Thursday, May 7th. The biotechnology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.91. The business had revenue of $51.08 million during the quarter, compared to analysts' expectations of $0.81 million. Prothena had a negative return on equity of 43.44% and a negative net margin of 260.92%. As a group, equities analysts forecast that Prothena Corporation plc will post 0.18 EPS for the current year.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Weiss Ratings cut Prothena from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday. Stifel Nicolaus set a $19.00 price target on shares of Prothena in a research report on Friday, March 13th. Citigroup reaffirmed an "outperform" rating on shares of Prothena in a research note on Friday, May 8th. Royal Bank Of Canada lifted their price target on shares of Prothena from $11.00 to $12.00 and gave the stock a "sector perform" rating in a report on Friday, February 20th. Finally, Citizens Jmp increased their price objective on Prothena from $19.00 to $20.00 and gave the company a "market outperform" rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Prothena has a consensus rating of "Moderate Buy" and a consensus target price of $23.75.
Read Our Latest Report on Prothena
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC acquired a new position in shares of Prothena in the 4th quarter worth approximately $100,000. PDT Partners LLC acquired a new stake in shares of Prothena during the fourth quarter worth $108,000. DRW Securities LLC bought a new position in Prothena during the fourth quarter worth $114,000. Y Intercept Hong Kong Ltd bought a new position in Prothena during the third quarter worth $119,000. Finally, Brooklyn Investment Group lifted its holdings in Prothena by 13.1% in the third quarter. Brooklyn Investment Group now owns 12,569 shares of the biotechnology company's stock valued at $123,000 after buying an additional 1,456 shares during the period. Institutional investors own 97.08% of the company's stock.
Prothena Company Profile
(
Get Free Report)
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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