Prothena Corp. (PRTA) Shares Down 2.9%
Prothena Corp. (NASDAQ:PRTA) shares dropped 2.9% during mid-day trading on Tuesday . The company traded as low as $56.13 and last traded at $56.50, with a volume of 158,309 shares changing hands. The stock had previously closed at $58.20.
PRTA has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Prothena Corp. in a report on Wednesday, June 22nd. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Prothena Corp. in a report on Tuesday, July 12th. Barclays PLC initiated coverage on Prothena Corp. in a report on Friday, May 13th. They set an “overweight” rating and a $60.00 price target on the stock. Zacks Investment Research raised Prothena Corp. from a “sell” rating to a “hold” rating in a report on Thursday, April 21st. Finally, Wedbush reaffirmed an “outperform” rating and set a $77.00 price target on shares of Prothena Corp. in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $76.60.
The firm’s 50-day moving average price is $50.12 and its 200-day moving average price is $43.01. The stock’s market cap is $1.92 billion.
Prothena Corp. (NASDAQ:PRTA) last issued its earnings results on Tuesday, August 2nd. The company reported ($1.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.91) by $0.27. The business earned $0.33 million during the quarter, compared to analyst estimates of $0.39 million. Prothena Corp.’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, analysts forecast that Prothena Corp. will post ($4.25) EPS for the current year.
In other news, Director Dennis J. Selkoe sold 5,000 shares of Prothena Corp. stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the transaction, the director now directly owns 3,025 shares in the company, valued at approximately $136,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arthur W. Homan sold 9,375 shares of Prothena Corp. stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $52.14, for a total value of $488,812.50. Following the completion of the transaction, the insider now owns 9,375 shares in the company, valued at $488,812.50. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently made changes to their positions in the company. Morgan Stanley increased its position in shares of Prothena Corp. by 10.8% in the fourth quarter. Morgan Stanley now owns 18,747 shares of the company’s stock worth $1,278,000 after buying an additional 1,830 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Prothena Corp. by 4.0% in the fourth quarter. New York State Common Retirement Fund now owns 31,000 shares of the company’s stock worth $2,111,000 after buying an additional 1,200 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Prothena Corp. by 2,138.8% in the fourth quarter. Wells Fargo & Company MN now owns 245,639 shares of the company’s stock worth $16,730,000 after buying an additional 234,667 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Prothena Corp. by 0.5% in the fourth quarter. Jennison Associates LLC now owns 406,677 shares of the company’s stock worth $27,699,000 after buying an additional 1,912 shares in the last quarter.
Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis (PRX003).
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