William Scully Acquires 50,000 Shares of Prothena (NASDAQ:PRTA) Stock

Prothena Corporation plc (NASDAQ:PRTA) major shareholder William Scully bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average cost of $9.43 per share, with a total value of $471,500.00. Following the transaction, the insider owned 886,000 shares of the company’s stock, valued at $8,354,980. This represents a 5.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Prothena Price Performance

Shares of PRTA stock opened at $9.25 on Friday. The stock has a market cap of $484.24 million, a P/E ratio of -3.28, a P/E/G ratio of 1.43 and a beta of -0.25. The company has a fifty day moving average price of $10.13 and a two-hundred day moving average price of $9.72. Prothena Corporation plc has a one year low of $4.76 and a one year high of $11.80.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.91. The firm had revenue of $51.08 million during the quarter, compared to analysts’ expectations of $0.81 million. Prothena had a negative net margin of 260.92% and a negative return on equity of 43.44%. As a group, equities research analysts anticipate that Prothena Corporation plc will post 0.18 EPS for the current fiscal year.

Institutional Trading of Prothena

Hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC acquired a new stake in Prothena in the 4th quarter worth about $100,000. PDT Partners LLC bought a new position in Prothena in the 4th quarter valued at about $108,000. DRW Securities LLC bought a new position in Prothena in the 4th quarter valued at about $114,000. Y Intercept Hong Kong Ltd bought a new position in Prothena in the 3rd quarter valued at about $119,000. Finally, Brooklyn Investment Group increased its holdings in Prothena by 13.1% in the 3rd quarter. Brooklyn Investment Group now owns 12,569 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 1,456 shares during the period. Institutional investors and hedge funds own 97.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PRTA. Citigroup reiterated an “outperform” rating on shares of Prothena in a research note on Friday, May 8th. Stifel Nicolaus set a $19.00 target price on shares of Prothena in a research note on Friday, March 13th. Royal Bank Of Canada raised their target price on shares of Prothena from $11.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. Citizens Jmp raised their target price on shares of Prothena from $19.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings cut shares of Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.75.

About Prothena

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.