Key Points
- Insider buying: Major shareholder William Scully purchased 100,000 Prothena shares at an average price of $8.57, increasing his direct stake by 46.73% to 314,000 shares.
- Stock and financial performance: PRTA opened at $8.02, near its one-year low of $7.73, while the company reported a quarterly loss of $0.32 per share—better than the $0.39 consensus estimate—and $1.01 million in revenue.
- Analyst outlook: Prothena has a consensus “Moderate Buy” rating and 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 acquired 100,000 shares of Prothena stock in a transaction that occurred on Friday, October 2nd. The shares were purchased at an average cost of $8.57 per share, for a total transaction of $857,000.00. Following the purchase, the insider directly owned 314,000 shares of the company's stock, valued at approximately $2,690,980. This trade represents a 46.73% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Prothena Stock Performance
PRTA stock opened at $8.02 on Wednesday. The stock has a market capitalization of $419.87 million, a P/E ratio of -9.55, a PEG ratio of 2.92 and a beta of -0.29. Prothena Corporation plc has a one year low of $7.73 and a one year high of $11.80. The company has a 50 day moving average price of $8.88 and a two-hundred day moving average price of $9.34.
Prothena (NASDAQ:PRTA - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.32) earnings per share 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 company had revenue of $1.01 million during the quarter, compared to the consensus estimate of $0.42 million. Research analysts forecast that Prothena Corporation plc will post 0.08 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its stake in shares of Prothena by 179.1% in the third quarter. Versant Capital Management Inc now owns 5,704 shares of the biotechnology company's stock valued at $48,000 after buying an additional 3,660 shares in the last quarter. CHICAGO TRUST Co NA acquired a new position in Prothena during the 1st quarter worth approximately $146,000. Headlands Technologies LLC acquired a new position in Prothena during the 2nd quarter worth approximately $148,000. Sei Investments Co. purchased a new position in Prothena in the 1st quarter worth approximately $168,000. Finally, Great Lakes Advisors LLC purchased a new position in Prothena in the 2nd quarter worth approximately $281,000. 97.08% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PRTA has been the subject of several analyst reports. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Prothena in a research note on Friday, July 24th. Weiss Ratings cut Prothena from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, September 24th. UBS Group reaffirmed a "buy" rating on shares of Prothena in a research note on Friday, July 24th. Finally, Wall Street Zen lowered shares of Prothena from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.57.
Get Our Latest Stock Analysis on Prothena
About Prothena
(
Get Free Report)
Prothena Corporation plc is a clinical-stage biotechnology company focused on discovering and developing therapies for diseases caused by protein misfolding or abnormal protein accumulation. Its research programs target neurological and systemic disorders, including Alzheimer's disease, Parkinson's disease, and transthyretin amyloidosis.
The company's pipeline has included PRX012, an investigational next-generation antibody targeting amyloid beta for Alzheimer's disease; prasinezumab, an anti-alpha-synuclein antibody being developed for Parkinson's disease through a collaboration with Roche; and birtamimab, an investigational treatment designed to target misfolded light chains associated with AL amyloidosis.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
