Insider Selling: Prothena Corp. (PRTA) Director Sells 5,000 Shares of Stock
Prothena Corp. (NASDAQ:PRTA) Director Dennis J. Selkoe sold 5,000 shares of the business’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $62.42, for a total value of $312,100.00. Following the completion of the transaction, the director now owns 7,845 shares in the company, valued at approximately $489,684.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Prothena Corp. (NASDAQ:PRTA) traded down 1.94% during midday trading on Wednesday, hitting $59.02. The stock had a trading volume of 324,735 shares. The firm has a 50 day moving average of $55.80 and a 200-day moving average of $51.93. The company’s market cap is $2.04 billion. Prothena Corp. has a one year low of $28.20 and a one year high of $76.42.
Prothena Corp. (NASDAQ:PRTA) last released its quarterly earnings data on Tuesday, November 1st. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($1.22) by $0.04. The business had revenue of $0.29 million for the quarter, compared to analyst estimates of $0.49 million. Prothena Corp. had a negative return on equity of 32.65% and a negative net margin of 11,365.41%. On average, analysts forecast that Prothena Corp. will post ($4.36) earnings per share for the current fiscal year.
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Several brokerages recently issued reports on PRTA. Wedbush restated an “outperform” rating and issued a $77.00 price target on shares of Prothena Corp. in a research report on Wednesday, August 3rd. Deutsche Bank AG began coverage on Prothena Corp. in a research report on Thursday, November 3rd. They issued a “buy” rating and a $73.00 price target on the stock. Zacks Investment Research upgraded Prothena Corp. from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Thursday, November 24th. Barclays PLC lifted their price objective on Prothena Corp. from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, August 4th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Prothena Corp. in a report on Tuesday, September 27th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Prothena Corp. presently has an average rating of “Buy” and a consensus price target of $75.43.
A number of large investors have recently added to or reduced their stakes in PRTA. Societe Generale acquired a new stake in Prothena Corp. during the second quarter valued at $111,000. Strs Ohio acquired a new stake in Prothena Corp. during the third quarter valued at $131,000. BNP Paribas Arbitrage SA raised its stake in Prothena Corp. by 49.9% in the second quarter. BNP Paribas Arbitrage SA now owns 4,039 shares of the company’s stock valued at $141,000 after buying an additional 1,344 shares during the period. Teacher Retirement System of Texas raised its stake in Prothena Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,021 shares of the company’s stock valued at $141,000 after buying an additional 493 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Prothena Corp. by 26.4% in the third quarter. PNC Financial Services Group Inc. now owns 2,740 shares of the company’s stock valued at $165,000 after buying an additional 573 shares during the period.
About Prothena Corp.
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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