Key Points
- Major shareholder William Scully bought 100,000 Prothena shares at an average of $8.35 each, investing $835,000 and increasing his direct ownership by 10.79% to 1.027 million shares.
- Prothena shares opened at $8.50, with a $445 million market capitalization and a 52-week trading range of $7.73 to $11.80. The company recently beat quarterly EPS and revenue estimates but remains unprofitable.
- Institutional investors own 97.08% of Prothena’s stock, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $24.57.
Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) major shareholder William Scully acquired 10,000 shares of Prothena stock in a transaction that occurred on Wednesday, October 14th. The stock was purchased at an average cost of $8.46 per share, with a total value of $84,600.00. Following the completion of the purchase, the insider owned 1,037,000 shares in the company, valued at $8,773,020. The trade was a 0.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Prothena Stock Performance
Shares of PRTA stock opened at $8.50 on Friday. The stock's fifty day moving average is $8.89 and its two-hundred day moving average is $9.31. The firm has a market capitalization of $445.00 million, a P/E ratio of -10.12, a PEG ratio of 2.95 and a beta of -0.29. Prothena Corporation plc has a fifty-two week low of $7.73 and a fifty-two week high of $11.80.
Prothena (NASDAQ:PRTA - Get Free Report) last announced its earnings results on Thursday, August 6th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. Prothena had a negative net margin of 80.68% and a negative return on equity of 16.45%. The company had revenue of $1.01 million for the quarter, compared to analysts' expectations of $0.42 million. On average, equities analysts forecast that Prothena Corporation plc will post 0.08 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on PRTA. UBS Group reissued a "buy" rating on shares of Prothena in a research note on Friday, July 24th. Wall Street Zen cut shares of Prothena from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price objective on shares of Prothena in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Prothena from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.57.
Check Out Our Latest Analysis on PRTA
Hedge Funds Weigh In On Prothena
A number of hedge funds have recently modified their holdings of the business. Versant Capital Management Inc raised its holdings in Prothena by 179.1% in the 3rd 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 during the period. Engineers Gate Manager LP acquired a new position in Prothena in the second quarter valued at about $404,000. Headlands Technologies LLC purchased a new position in Prothena during the second quarter worth about $148,000. Public Employees Retirement System of Ohio purchased a new position in Prothena during the second quarter worth about $413,000. Finally, Great Lakes Advisors LLC purchased a new position in Prothena during the second quarter worth about $281,000. 97.08% of the stock is currently owned by hedge funds and other institutional investors.
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.
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