Prothena (NASDAQ:PRTA) Major Shareholder William Scully Purchases 162,000 Shares of Company Stock

Prothena Corporation plc (NASDAQ:PRTA) major shareholder William Scully acquired 162,000 shares of the stock in a transaction that occurred on Tuesday, September 29th. The shares were bought at an average price of $8.68 per share, with a total value of $1,406,160.00. Following the completion of the transaction, the insider owned 214,000 shares in the company, valued at $1,857,520. This represents a 311.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Prothena Trading Down 4.6%

Prothena stock traded down $0.40 during mid-day trading on Wednesday, reaching $8.38. The company had a trading volume of 634,528 shares, compared to its average volume of 506,577. Prothena Corporation plc has a fifty-two week low of $7.73 and a fifty-two week high of $11.80. The company has a market cap of $438.69 million, a P/E ratio of -9.98, a P/E/G ratio of 3.07 and a beta of -0.33. The business has a fifty day simple moving average of $8.91 and a 200 day simple moving average of $9.36.

Prothena (NASDAQ:PRTA) last posted its earnings results on Thursday, August 6th. The biotechnology company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. The firm had revenue of $1.01 million for the quarter, compared to analysts’ expectations of $0.42 million. Prothena had a negative net margin of 80.68% and a negative return on equity of 16.45%. Research analysts forecast that Prothena Corporation plc will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

PRTA has been the topic of a number of research reports. Wall Street Zen lowered Prothena from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Prothena in a research note on Friday, July 24th. UBS Group restated a “buy” rating on shares of Prothena in a report on Friday, July 24th. Finally, Weiss Ratings downgraded Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 24th. One 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 issued a Sell rating to the stock. According to MarketBeat.com, Prothena has a consensus rating of “Moderate Buy” and a consensus price target of $24.57.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PRTA. Rubric Capital Management LP grew its position in shares of Prothena by 36.0% in 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 last quarter. ADAR1 Capital Management LLC boosted its stake in shares of Prothena by 8.5% in the 1st quarter. ADAR1 Capital Management LLC now owns 1,581,443 shares of the biotechnology company’s stock valued at $15,372,000 after purchasing an additional 123,679 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Prothena by 1.0% during the 1st 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 raised its position in shares of Prothena by 39.5% in the 1st quarter. Renaissance Technologies LLC now owns 607,515 shares of the biotechnology company’s stock worth $5,905,000 after acquiring an additional 172,000 shares in the last quarter. Finally, Penbrook Management LLC bought a new position in shares of Prothena in the 1st quarter worth about $2,641,000. 97.08% of the stock is owned by institutional investors.

Prothena Company Profile

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.