Key Points
- Major shareholder William Scully bought 20,000 shares of Prothena at $7.90 each, spending $158,000 and increasing his stake by 2.72% to 756,000 shares.
- Prothena shares were up 5.2% as the stock opened at $8.93, though it remains below both its 50-day and 200-day moving averages.
- The company recently beat earnings expectations, reporting $0.60 EPS versus an expected loss, and analysts currently rate the stock a Moderate Buy with a consensus target price of $23.75.
Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) major shareholder William Scully purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average price of $7.90 per share, with a total value of $158,000.00. Following the acquisition, the insider directly owned 756,000 shares of the company's stock, valued at $5,972,400. This trade represents a 2.72% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Prothena Stock Up 5.2%
PRTA opened at $8.93 on Friday. The stock's fifty day moving average is $9.86 and its two-hundred day moving average is $9.58. The company has a market capitalization of $467.49 million, a P/E ratio of -3.17, a PEG ratio of 1.36 and a beta of -0.25. Prothena Corporation plc has a 52 week low of $5.64 and a 52 week high of $11.80.
Prothena (NASDAQ:PRTA - Get Free Report) last issued its earnings results on Thursday, May 7th. The biotechnology company reported $0.60 earnings per share for the quarter, topping the consensus estimate 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%. Equities analysts anticipate that Prothena Corporation plc will post 0.18 earnings per share for the current year.
Institutional Trading of Prothena
A number of institutional investors have recently modified their holdings of PRTA. ADAR1 Capital Management LLC grew its position in shares of Prothena by 8.5% in the 1st quarter. ADAR1 Capital Management LLC now owns 1,581,443 shares of the biotechnology company's stock worth $15,372,000 after buying an additional 123,679 shares during the last quarter. Rubric Capital Management LP lifted its position in Prothena by 36.0% during the first quarter. Rubric Capital Management LP now owns 5,000,000 shares of the biotechnology company's stock valued at $48,600,000 after acquiring an additional 1,322,669 shares during the last quarter. Quantinno Capital Management LP lifted its position in Prothena by 39.3% during the first quarter. Quantinno Capital Management LP now owns 144,299 shares of the biotechnology company's stock valued at $1,403,000 after acquiring an additional 40,681 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Prothena by 39.5% in the first quarter. Renaissance Technologies LLC now owns 607,515 shares of the biotechnology company's stock valued at $5,905,000 after acquiring an additional 172,000 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in Prothena in the first quarter valued at approximately $168,000. 97.08% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Prothena from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. Citizens Jmp increased their price objective on shares of Prothena from $19.00 to $20.00 and gave the company a "market outperform" rating in a research note on Friday, May 8th. Citigroup reissued an "outperform" rating on shares of Prothena in a report on Friday, May 8th. Royal Bank Of Canada upped their target price on Prothena from $11.00 to $12.00 and gave the stock a "sector perform" rating in a report on Friday, February 20th. Finally, Weiss Ratings cut Prothena from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 2nd. One investment 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 issued a Sell rating to the company. According to MarketBeat, Prothena currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.75.
Read 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.
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