Key Points
- Major shareholder William Scully bought 103,500 Prothena shares at an average price of $8.60, investing $890,100 and increasing his holdings by 123.95% to 187,000 shares.
- Prothena reported quarterly revenue of $1.01 million and an adjusted loss of $0.32 per share, beating analysts’ estimates for both metrics. Its shares opened at $8.78, near the lower end of their 52-week range.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $24.57, although some firms recently downgraded the stock. Institutional investors own approximately 97.08% of Prothena’s shares.
Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) major shareholder William Scully purchased 103,500 shares of the business's stock in a transaction dated Monday, September 28th. The shares were purchased at an average price of $8.60 per share, for a total transaction of $890,100.00. Following the acquisition, the insider owned 187,000 shares of the company's stock, valued at approximately $1,608,200. The trade was a 123.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Prothena Stock Up 0.7%
Shares of NASDAQ PRTA opened at $8.78 on Wednesday. Prothena Corporation plc has a twelve month low of $7.73 and a twelve month high of $11.80. The firm has a market cap of $459.63 million, a P/E ratio of -10.45, a PEG ratio of 3.07 and a beta of -0.33. The company has a 50 day moving average of $8.91 and a 200 day moving average of $9.36.
Prothena (NASDAQ:PRTA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.07. Prothena had a negative return on equity of 16.45% and a negative net margin of 80.68%.The business had revenue of $1.01 million for the quarter, compared to analysts' expectations of $0.42 million. As a group, equities analysts expect that Prothena Corporation plc will post 0.08 earnings per share for the current fiscal year.
Analysts Set New Price Targets
PRTA has been the topic of a number of research analyst reports. UBS Group reaffirmed a "buy" rating on shares of Prothena in a report on Friday, July 24th. HC Wainwright reissued a "buy" rating and issued a $30.00 target price on shares of Prothena in a research report on Friday, July 24th. Wall Street Zen lowered Prothena from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Weiss Ratings cut shares of Prothena from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Prothena has a consensus rating of "Moderate Buy" and an average target price of $24.57.
View Our Latest Analysis on Prothena
Institutional Investors Weigh In On Prothena
A number of large investors have recently added to or reduced their stakes in PRTA. Rubric Capital Management LP lifted its holdings in shares of Prothena by 36.0% during the 1st quarter. Rubric Capital Management LP now owns 5,000,000 shares of the biotechnology company's stock valued at $48,600,000 after buying an additional 1,322,669 shares during the period. ADAR1 Capital Management LLC grew its holdings in shares of Prothena by 8.5% in the first quarter. ADAR1 Capital Management LLC now owns 1,581,443 shares of the biotechnology company's stock worth $15,372,000 after acquiring an additional 123,679 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Prothena by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 782,603 shares of the biotechnology company's stock worth $7,606,000 after acquiring an additional 7,396 shares during the period. Renaissance Technologies LLC increased its position in Prothena by 39.5% during 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 during the last quarter. Finally, Penbrook Management LLC purchased a new stake in Prothena during the first quarter valued at $2,641,000. Institutional investors own 97.08% of the company's stock.
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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