Key Points
- Prothena major shareholder William Scully bought 125,000 shares on June 11 at an average price of $8.17 each, spending about $1.02 million. After the purchase, his stake increased 13.35% to 1,061,000 shares.
- Prothena shares were little changed, opening around $8.25 and trading near a 52-week range of $4.95 to $11.80. The company has a market cap of about $431.9 million and is trading below its 50-day and 200-day moving averages.
- Analysts remain cautiously optimistic on PRTA, with a consensus rating of “Moderate Buy” and an average price target of $23.75. Recent updates included bullish ratings from several firms, while Prothena’s latest earnings beat estimates on both EPS and revenue.
Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) major shareholder William Scully acquired 125,000 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $8.17 per share, for a total transaction of $1,021,250.00. Following the completion of the transaction, the insider owned 1,061,000 shares in the company, valued at approximately $8,668,370. The trade was a 13.35% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Prothena Stock Down 0.1%
PRTA opened at $8.25 on Friday. The stock has a market cap of $431.89 million, a PE ratio of -2.93, a PEG ratio of 1.32 and a beta of -0.25. The business has a 50 day moving average of $9.99 and a 200-day moving average of $9.64. Prothena Corporation plc has a 52 week low of $4.95 and a 52 week high of $11.80.
Prothena (NASDAQ:PRTA - Get Free Report) last released its earnings results on Thursday, May 7th. The biotechnology company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.91. The company 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%. Equities analysts anticipate that Prothena Corporation plc will post 0.18 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Intech Investment Management LLC raised its stake in shares of Prothena by 5.5% in the third quarter. Intech Investment Management LLC now owns 19,388 shares of the biotechnology company's stock worth $189,000 after purchasing an additional 1,014 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Prothena by 13.1% in the third quarter. Brooklyn Investment Group now owns 12,569 shares of the biotechnology company's stock worth $123,000 after acquiring an additional 1,456 shares during the period. Deutsche Bank AG grew its holdings in shares of Prothena by 5.1% in the fourth quarter. Deutsche Bank AG now owns 35,482 shares of the biotechnology company's stock worth $339,000 after acquiring an additional 1,709 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Prothena by 3.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 81,515 shares of the biotechnology company's stock worth $779,000 after acquiring an additional 2,968 shares during the period. Finally, Virtus Investment Advisers LLC grew its holdings in Prothena by 14.4% during the fourth quarter. Virtus Investment Advisers LLC now owns 25,679 shares of the biotechnology company's stock valued at $245,000 after purchasing an additional 3,236 shares during the period. Hedge funds and other institutional investors own 97.08% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on PRTA. Citigroup reiterated an "outperform" rating on shares of Prothena in a research note on Friday, May 8th. Stifel Nicolaus set a $19.00 price objective on Prothena in a research note on Friday, March 13th. Weiss Ratings cut Prothena from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 2nd. Citizens Jmp lifted their price objective on Prothena from $19.00 to $20.00 and gave the company a "market outperform" rating in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded Prothena from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.75.
Get Our Latest Stock Analysis on PRTA
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.
Further Reading
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