William Scully Acquires 27,000 Shares of Prothena (NASDAQ:PRTA) Stock

Prothena Corporation plc (NASDAQ:PRTA) major shareholder William Scully purchased 27,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were purchased at an average price of $9.47 per share, for a total transaction of $255,690.00. Following the completion of the transaction, the insider directly owned 827,000 shares of the company’s stock, valued at $7,831,690. This represents a 3.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Prothena Stock Up 2.3%

Shares of PRTA stock opened at $9.82 on Friday. The business’s fifty day moving average is $9.07 and its 200 day moving average is $9.41. The stock has a market cap of $514.08 million, a price-to-earnings ratio of -11.69, a PEG ratio of 3.38 and a beta of -0.33. Prothena Corporation plc has a twelve month low of $7.73 and a twelve month high of $11.80.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.07. Prothena had a negative return on equity of 16.45% and a negative net margin of 80.68%.The business had revenue of $1.01 million during the quarter, compared to analyst estimates of $0.42 million. Equities research analysts expect that Prothena Corporation plc will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Prothena

A number of institutional investors and hedge funds have recently bought and sold shares of PRTA. Tower Research Capital LLC TRC lifted its stake in shares of Prothena by 571.0% in the second quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company’s stock worth $77,000 after buying an additional 10,815 shares in the last quarter. ProShare Advisors LLC bought a new stake in shares of Prothena during the fourth quarter valued at approximately $100,000. PDT Partners LLC purchased a new position in Prothena in the 4th quarter worth approximately $108,000. Voleon Capital Management LP purchased a new position in Prothena in the 2nd quarter worth approximately $113,000. Finally, DRW Securities LLC bought a new position in Prothena in the 4th quarter valued at approximately $114,000. 97.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PRTA has been the topic of several research reports. UBS Group reissued a “buy” rating on shares of Prothena in a research note on Friday, July 24th. Citizens Jmp raised their target price on shares of Prothena from $19.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Citigroup reiterated an “outperform” rating on shares of Prothena in a report on Friday, May 8th. Wall Street Zen cut Prothena from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings downgraded Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Prothena currently has a consensus rating of “Moderate Buy” and an average target price of $24.57.

Prothena Company Profile

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.