Prothena Corporation plc (NASDAQ:PRTA – Get Free Report) major shareholder William Scully purchased 100,000 shares of Prothena stock in a transaction that occurred on Friday, October 2nd. The stock was acquired at an average cost of $8.57 per share, with a total value of $857,000.00. Following the acquisition, the insider directly owned 314,000 shares of the company’s stock, valued at $2,690,980. The trade was a 46.73% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Prothena Trading Down 1.9%
PRTA stock traded down $0.16 during midday trading on Tuesday, hitting $8.11. 298,914 shares of the company’s stock were exchanged, compared to its average volume of 507,073. The firm has a 50 day moving average price of $8.89 and a 200-day moving average price of $9.34. Prothena Corporation plc has a 12-month low of $7.73 and a 12-month high of $11.80. The stock has a market capitalization of $424.77 million, a price-to-earnings ratio of -9.66, a price-to-earnings-growth ratio of 2.95 and a beta of -0.29.
Prothena (NASDAQ:PRTA – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. The business had revenue of $1.01 million during the quarter, compared to analyst estimates of $0.42 million. Prothena had a negative net margin of 80.68% and a negative return on equity of 16.45%. On average, sell-side analysts forecast that Prothena Corporation plc will post 0.08 EPS for the current fiscal year.
Institutional Trading of Prothena
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on PRTA. Wall Street Zen downgraded shares of Prothena from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings lowered shares of Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 24th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Prothena in a report on Friday, July 24th. Finally, UBS Group restated a “buy” rating on shares of Prothena in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Prothena has a consensus rating of “Moderate Buy” and an average price target of $24.57.
Check Out Our Latest Stock Report on PRTA
About Prothena
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.
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