Key Points
- Major shareholder William Scully purchased 100,000 Prothena shares at an average price of $8.43, investing $843,000 and increasing his stake by 12.09% to 927,000 shares.
- Prothena shares opened at $8.51, below both their 50-day and 200-day moving averages, while the company reported a quarterly loss of $0.32 per share but exceeded revenue and EPS expectations.
- Analysts maintain a consensus “Moderate Buy” rating with an average price target of $24.57, and institutional investors own 97.08% of the biotechnology company’s stock.
Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) major shareholder William Scully bought 100,000 shares of the stock in a transaction on Friday, September 18th. The stock was purchased at an average cost of $8.43 per share, with a total value of $843,000.00. Following the purchase, the insider directly owned 927,000 shares of the company's stock, valued at approximately $7,814,610. This represents a 12.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Prothena Stock Down 0.8%
Shares of NASDAQ PRTA opened at $8.51 on Tuesday. The company's fifty day moving average is $8.91 and its 200-day moving average is $9.41. The stock has a market cap of $445.52 million, a price-to-earnings ratio of -10.13, a P/E/G ratio of 3.02 and a beta of -0.33. Prothena Corporation plc has a twelve month low of $7.73 and a twelve month high of $11.80.
Prothena (NASDAQ:PRTA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates of ($0.39) by $0.07. The business had revenue of $1.01 million during the quarter, compared to analysts' expectations of $0.42 million. Prothena had a negative net margin of 80.68% and a negative return on equity of 16.45%. On average, research analysts anticipate that Prothena Corporation plc will post 0.08 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on PRTA. Weiss Ratings upgraded Prothena from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, September 9th. Wall Street Zen cut Prothena from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. UBS Group reiterated a "buy" rating on shares of Prothena in a research report on Friday, July 24th. Finally, HC Wainwright reissued a "buy" rating and set a $30.00 target price on shares of Prothena in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $24.57.
View Our Latest Research Report on PRTA
Institutional Investors Weigh In On Prothena
Several institutional investors have recently added to or reduced their stakes in the stock. Rubric Capital Management LP increased its holdings in Prothena by 36.0% during the 1st quarter. Rubric Capital Management LP now owns 5,000,000 shares of the biotechnology company's stock worth $48,600,000 after purchasing an additional 1,322,669 shares in the last quarter. Penbrook Management LLC bought a new stake in shares of Prothena in the first quarter valued at about $2,641,000. Renaissance Technologies LLC boosted its position in shares of Prothena by 39.5% during the first quarter. Renaissance Technologies LLC now owns 607,515 shares of the biotechnology company's stock worth $5,905,000 after buying an additional 172,000 shares during the period. ADAR1 Capital Management LLC boosted its position in shares of Prothena by 8.5% during the first 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 period. Finally, Focused Wealth Management Inc grew its holdings in shares of Prothena by 93.0% during the first quarter. Focused Wealth Management Inc now owns 207,403 shares of the biotechnology company's stock worth $2,016,000 after buying an additional 99,924 shares in the last quarter. 97.08% of the stock is owned by institutional investors.
Prothena Company Profile
(
Get Free Report)
Prothena Corporation plc (NASDAQ: PRTA) is a clinical-stage biotechnology company focused on discovering and developing novel therapies for neurodegenerative and other protein-misfolding diseases. The company's research is based on targeting abnormal proteins and the biological processes associated with their accumulation in tissue.
Prothena's lead programs include birtamimab, an investigational antibody being developed for patients with AL amyloidosis, and prasinezumab, an investigational antibody targeting alpha-synuclein for Parkinson's disease.
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