Prothena (NASDAQ:PRTA) Major Shareholder William Scully Acquires 10,000 Shares of Company Stock

Prothena Corporation plc (NASDAQ:PRTA) major shareholder William Scully bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 14th. The stock was purchased at an average price 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 approximately $8,773,020. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Prothena Stock Performance

Shares of NASDAQ PRTA opened at $8.50 on Friday. The company has a market capitalization of $445.00 million, a PE ratio of -10.12, a price-to-earnings-growth ratio of 2.95 and a beta of -0.29. The company’s fifty day moving average price is $8.89 and its 200 day moving average price is $9.31. Prothena Corporation plc has a 1 year low of $7.73 and a 1 year high of $11.80.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. The company had revenue of $1.01 million during 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%. On average, equities analysts expect that Prothena Corporation plc will post 0.08 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Prothena in a research report on Friday, July 24th. Weiss Ratings raised Prothena from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. UBS Group reaffirmed a “buy” rating on shares of Prothena in a report on Friday, July 24th. Finally, Wall Street Zen downgraded Prothena from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. One investment 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.57.

Institutional Investors Weigh In On Prothena

A number of institutional investors have recently added to or reduced their stakes in PRTA. Rubric Capital Management LP raised its position in Prothena by 36.0% during the first quarter. Rubric Capital Management LP now owns 5,000,000 shares of the biotechnology company’s stock worth $48,600,000 after acquiring an additional 1,322,669 shares during the period. ADAR1 Capital Management LLC grew its position in shares of Prothena by 8.5% in the first 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 period. Dimensional Fund Advisors LP grew its position in shares of Prothena by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 782,603 shares of the biotechnology company’s stock valued at $7,606,000 after purchasing an additional 7,396 shares during the period. Renaissance Technologies LLC grew its position in shares of Prothena by 39.5% in the first quarter. Renaissance Technologies LLC now owns 607,515 shares of the biotechnology company’s stock valued at $5,905,000 after purchasing an additional 172,000 shares during the period. Finally, Penbrook Management LLC purchased a new stake in shares of Prothena during the first quarter worth about $2,641,000. Institutional investors and hedge funds own 97.08% of the company’s stock.

Prothena Company Profile

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.