Prothena Co. plc (NASDAQ:PRTA) Major Shareholder William P. Scully Purchases 73,436 Shares

Prothena Co. plc (NASDAQ:PRTA) major shareholder William P. Scully bought 73,436 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were acquired at an average price of $13.93 per share, with a total value of $1,022,963.48. Following the transaction, the insider now owns 1,297,693 shares of the company’s stock, valued at $18,076,863.49. The trade was a 6.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Prothena Price Performance

NASDAQ PRTA opened at $8.50 on Friday. Prothena Co. plc has a 12 month low of $8.25 and a 12 month high of $25.42. The company has a 50-day moving average of $11.85 and a 200-day moving average of $13.93. The company has a market cap of $457.53 million, a P/E ratio of -3.70 and a beta of 0.07.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). The company had revenue of $2.12 million during the quarter, compared to analyst estimates of $7.53 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. As a group, equities research analysts anticipate that Prothena Co. plc will post -4.04 EPS for the current year.

Institutional Investors Weigh In On Prothena

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRTA. Barclays PLC grew its holdings in shares of Prothena by 110.2% during the 3rd quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after purchasing an additional 49,916 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in Prothena during the fourth quarter worth approximately $724,000. SG Americas Securities LLC increased its position in shares of Prothena by 167.0% in the fourth quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company’s stock worth $521,000 after acquiring an additional 23,525 shares in the last quarter. Duncan Williams Asset Management LLC raised its stake in shares of Prothena by 41.9% in the 4th quarter. Duncan Williams Asset Management LLC now owns 69,199 shares of the biotechnology company’s stock valued at $958,000 after acquiring an additional 20,450 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Prothena during the 4th quarter valued at $159,000. 97.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Piper Sandler upped their target price on Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Chardan Capital restated a “buy” rating and issued a $40.00 price objective on shares of Prothena in a research report on Friday, February 21st. Royal Bank of Canada cut their target price on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research note on Friday, February 21st. Finally, StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Prothena presently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

About Prothena

Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on discovery and development of novel therapies to treat diseases caused by protein dysregulation in the United States. The company is involved in developing birtamimab, an investigational humanized antibody that is in Phase III clinical trial for the treatment of AL amyloidosis; Prasinezumab, a humanized monoclonal antibody, for the treatment of Parkinson’s disease and other related synucleinopathies which is in Phase IIb clinical trial; NNC6019 that is in Phase lI clinical trial for the treatment of ATTR amyloidosis; and BMS-986446 and PRX012, which is in Phase I clinical trial for the treatment of Alzheimer’s disease.