Key Points
- Major shareholder William Scully purchased 50,000 Prothena shares at an average price of $8.79, investing $439,500 and increasing his direct holdings to 800,000 shares.
- Prothena shares rose 4.7% to open at $9.45, while the company reported a quarterly loss of $0.32 per share—better than the $0.39 consensus estimate—and revenue of $1.01 million.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $23.75 target price; institutional investors own 97.08% of the stock.
Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) major shareholder William Scully acquired 50,000 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $8.79 per share, for a total transaction of $439,500.00. Following the completion of the purchase, the insider directly owned 800,000 shares of the company's stock, valued at approximately $7,032,000. The trade was a 6.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Prothena Trading Up 4.7%
NASDAQ:PRTA opened at $9.45 on Friday. Prothena Corporation plc has a 1 year low of $7.73 and a 1 year high of $11.80. The firm has a 50 day moving average of $8.98 and a 200-day moving average of $9.37. The stock has a market capitalization of $494.74 million, a P/E ratio of -11.25, a price-to-earnings-growth ratio of 3.18 and a beta of -0.30.
Prothena (NASDAQ:PRTA - Get Free Report) last announced its earnings results on Thursday, August 6th. The biotechnology company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.07. The business had revenue of $1.01 million for the quarter, compared to the consensus estimate of $0.42 million. Prothena had a negative return on equity of 16.45% and a negative net margin of 80.68%. As a group, analysts forecast that Prothena Corporation plc will post 0.08 EPS for the current fiscal year.
Institutional Investors Weigh In On Prothena
Several institutional investors have recently modified their holdings of PRTA. ProShare Advisors LLC acquired a new position in Prothena in the fourth quarter valued at approximately $100,000. PDT Partners LLC acquired a new stake in Prothena during the 4th quarter worth $108,000. DRW Securities LLC acquired a new position in shares of Prothena in the 4th quarter valued at $114,000. Brooklyn Investment Group boosted its position in shares of Prothena by 13.1% in the 3rd quarter. Brooklyn Investment Group now owns 12,569 shares of the biotechnology company's stock worth $123,000 after purchasing an additional 1,456 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Prothena by 571.0% during the second 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 during the period. Institutional investors and hedge funds own 97.08% of the company's stock.
Analyst Ratings Changes
PRTA has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of Prothena in a report on Friday, July 24th. UBS Group reiterated a "buy" rating on shares of Prothena in a research report on Friday, July 24th. Citigroup reissued an "outperform" rating on shares of Prothena in a report on Friday, May 8th. Weiss Ratings cut shares of Prothena from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen downgraded Prothena from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.75.
Get Our Latest Stock Analysis on PRTA
About Prothena
(
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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