Insider Selling: Prothena (NASDAQ:PRTA) Insider Sells $64,897.14 in Stock

Prothena Corporation plc (NASDAQ:PRTA) insider Anne Evans Kingston sold 7,662 shares of Prothena stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $8.47, for a total value of $64,897.14. Following the completion of the transaction, the insider owned 55,782 shares of the company’s stock, valued at approximately $472,473.54. This represents a 12.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Prothena Stock Performance

NASDAQ PRTA opened at $8.12 on Friday. Prothena Corporation plc has a fifty-two week low of $6.61 and a fifty-two week high of $11.80. The company has a market cap of $425.08 million, a P/E ratio of -2.88, a P/E/G ratio of 1.30 and a beta of -0.31. The business’s 50 day moving average price is $9.05 and its 200-day moving average price is $9.42.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.91. The firm had revenue of $51.08 million during the quarter, compared to analysts’ expectations of $0.81 million. Prothena had a negative net margin of 260.92% and a negative return on equity of 43.44%. As a group, equities analysts predict that Prothena Corporation plc will post 0.18 EPS for the current year.

Institutional Investors Weigh In On Prothena

A number of large investors have recently modified their holdings of PRTA. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Prothena in the first quarter valued at approximately $230,000. Creative Planning increased its position in shares of Prothena by 373.0% during the second quarter. Creative Planning now owns 50,569 shares of the biotechnology company’s stock valued at $307,000 after acquiring an additional 39,879 shares during the last quarter. American Century Companies Inc. raised its position in Prothena by 72.1% in the second quarter. American Century Companies Inc. now owns 59,965 shares of the biotechnology company’s stock valued at $364,000 after purchasing an additional 25,129 shares during the period. Russell Investments Group Ltd. lifted its stake in Prothena by 7,956.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 96,196 shares of the biotechnology company’s stock worth $584,000 after acquiring an additional 95,002 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Prothena by 251.8% during the 2nd quarter. Hsbc Holdings PLC now owns 46,047 shares of the biotechnology company’s stock worth $282,000 after buying an additional 32,959 shares during the period. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Wall Street Analysts Forecast Growth

PRTA has been the topic of several research analyst reports. Citizens Jmp increased their price objective on Prothena from $19.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Weiss Ratings raised shares of Prothena from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Citigroup restated an “outperform” rating on shares of Prothena in a research note on Friday, May 8th. Wall Street Zen cut Prothena from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, UBS Group reaffirmed a “buy” rating on shares of Prothena in a report on Friday, July 24th. 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 assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

About Prothena

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.