Prothena (NASDAQ:PRTA) Major Shareholder William Scully Buys 100,000 Shares of Company Stock

Prothena Corporation plc (NASDAQ:PRTA) major shareholder William Scully bought 100,000 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The stock was acquired at an average cost of $8.35 per share, with a total value of $835,000.00. Following the transaction, the insider owned 1,027,000 shares of the company’s stock, valued at $8,575,450. This trade represents a 10.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Prothena Price Performance

Shares of PRTA stock traded up $0.13 on Thursday, hitting $8.50. The company’s stock had a trading volume of 358,337 shares, compared to its average volume of 512,088. The stock has a market capitalization of $444.98 million, a price-to-earnings ratio of -10.12, a P/E/G ratio of 2.95 and a beta of -0.29. The firm’s fifty day moving average price is $8.90 and its 200-day moving average price is $9.32. Prothena Corporation plc has a fifty-two week low of $7.73 and a fifty-two week high of $11.80.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.32) earnings per share for the quarter, topping 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 analysts’ expectations of $0.42 million. Analysts predict that Prothena Corporation plc will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Prothena

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in Prothena by 179.1% in the third quarter. Versant Capital Management Inc now owns 5,704 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 3,660 shares during the last quarter. CHICAGO TRUST Co NA bought a new position in shares of Prothena in the first quarter valued at $146,000. Headlands Technologies LLC bought a new stake in Prothena during the 2nd quarter worth approximately $148,000. Sei Investments Co. purchased a new stake in Prothena in the 1st quarter valued at $168,000. Finally, Great Lakes Advisors LLC bought a new position in shares of Prothena during the second quarter valued at about $281,000. Institutional investors own 97.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on PRTA shares. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Prothena in a research report on Friday, July 24th. Wall Street Zen downgraded Prothena from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings upgraded shares of Prothena from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Finally, UBS Group reissued a “buy” rating on shares of Prothena in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company 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 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.