Key Points
- Major shareholder William Scully purchased 162,000 Prothena shares at an average price of $8.68, investing approximately $1.41 million and increasing his direct ownership by 311.5% to 214,000 shares.
- Prothena shares were trading down 4.6% at $8.38, near the lower end of their 52-week range of $7.73 to $11.80. The company reported a quarterly loss of $0.32 per share, better than the expected $0.39 loss, with revenue of $1.01 million.
- Analysts maintain a consensus “Moderate Buy” rating with an average price target of $24.57, although ratings range from Strong Buy to Sell. Institutional investors own 97.08% of the company’s stock.
Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) major shareholder William Scully bought 162,000 shares of the stock in a transaction that occurred on Tuesday, September 29th. The shares were purchased at an average cost of $8.68 per share, with a total value of $1,406,160.00. Following the purchase, the insider directly owned 214,000 shares of the company's stock, valued at $1,857,520. The trade was a 311.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Prothena Trading Down 4.6%
Shares of Prothena stock opened at $8.38 on Thursday. The business has a 50-day moving average price of $8.91 and a two-hundred day moving average price of $9.36. Prothena Corporation plc has a 1-year low of $7.73 and a 1-year high of $11.80. The company has a market cap of $438.72 million, a P/E ratio of -9.98, a PEG ratio of 3.10 and a beta of -0.33.
Prothena (NASDAQ:PRTA - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.39) by $0.07. The company 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%. Equities research analysts forecast that Prothena Corporation plc will post 0.08 EPS for the current fiscal year.
Institutional Trading of Prothena
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. boosted its holdings in Prothena by 2.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 90,795 shares of the biotechnology company's stock worth $889,000 after acquiring an additional 2,251 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Prothena by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 136,322 shares of the biotechnology company's stock valued at $1,325,000 after acquiring an additional 3,622 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Prothena by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 782,603 shares of the biotechnology company's stock valued at $7,606,000 after acquiring an additional 7,396 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Prothena by 55.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 28,128 shares of the biotechnology company's stock valued at $269,000 after acquiring an additional 9,991 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of Prothena during the fourth quarter worth approximately $100,000. 97.08% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have issued reports on PRTA shares. UBS Group reissued a "buy" rating on shares of Prothena in a research note on Friday, July 24th. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price objective on shares of Prothena in a research report on Friday, July 24th. Wall Street Zen downgraded shares of Prothena from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Weiss Ratings lowered shares of Prothena from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.57.
Read Our Latest Research Report on Prothena
About Prothena
(
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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