Key Points
- Major shareholder William Scully purchased 50,000 Prothena shares at $8.07 each, investing $403,500 and increasing his ownership by 4.4% to 1.187 million shares.
- Prothena shares opened at $8.40 and have traded between $7.73 and $11.80 over the past year. The biotech reported a quarterly loss of $0.32 per share but beat analyst expectations and exceeded revenue estimates.
- Analysts maintain a consensus “Moderate Buy” rating with a $24.57 average price target, while institutional investors own 97.08% of the company’s stock.
Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) major shareholder William Scully bought 50,000 shares of the firm's stock in a transaction on Friday, October 23rd. The stock was bought at an average price of $8.07 per share, with a total value of $403,500.00. Following the completion of the purchase, the insider owned 1,187,000 shares of the company's stock, valued at $9,579,090. This trade represents a 4.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Prothena Trading Up 2.4%
Shares of NASDAQ PRTA opened at $8.40 on Tuesday. Prothena Corporation plc has a 12-month low of $7.73 and a 12-month high of $11.80. The company has a market cap of $439.74 million, a price-to-earnings ratio of -10.00, a price-to-earnings-growth ratio of 2.89 and a beta of -0.29. The stock's 50 day simple moving average is $8.78 and its 200 day simple moving average is $9.23.
Prothena (NASDAQ:PRTA - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.32) EPS for the quarter, topping analysts' consensus estimates of ($0.39) by $0.07. The firm had revenue of $1.01 million during 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%. As a group, equities analysts forecast that Prothena Corporation plc will post 0.08 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Prothena
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its position 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 acquiring an additional 3,660 shares during the period. CHICAGO TRUST Co NA bought a new stake in Prothena during the 1st quarter valued at $146,000. Headlands Technologies LLC bought a new stake in Prothena during the 2nd quarter valued at $148,000. Sei Investments Co. acquired a new position in Prothena during the 1st quarter worth $168,000. Finally, Great Lakes Advisors LLC acquired a new position in Prothena during the 2nd quarter worth $281,000. 97.08% of the stock is owned by institutional investors.
Analysts Set New Price Targets
PRTA has been the subject of several analyst reports. HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of Prothena in a report on Friday, July 24th. Weiss Ratings raised shares of Prothena from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, October 14th. Wall Street Zen cut shares of Prothena from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, UBS Group reiterated a "buy" rating on shares of Prothena in a research report on Friday, July 24th. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Prothena currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.57.
Check Out Our Latest Report on Prothena
Prothena Company Profile
(
Get Free Report)
Prothena Corporation plc (NASDAQ: PRTA) is a clinical-stage biotechnology company focused on discovering and developing novel medicines for serious neurodegenerative and rare peripheral diseases. Its research is centered on disease-causing proteins, including amyloid-beta, alpha-synuclein and transthyretin, with the goal of creating antibody-based therapies that address underlying disease mechanisms.
The company's product pipeline has included birtamimab, an investigational antibody being developed for the treatment of AL amyloidosis, and prasinezumab, an investigational alpha-synuclein antibody being developed in collaboration with Roche for certain forms of Parkinson's disease.
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