Prothena (NASDAQ:PRTA) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

Shares of Prothena Corporation plc (NASDAQ:PRTA) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $9.37 and traded as low as $8.07. Prothena shares last traded at $8.72, with a volume of 488,857 shares.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings lowered Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 24th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Prothena in a research note on Friday, July 24th. Wall Street Zen downgraded shares of Prothena from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, UBS Group restated a “buy” rating on shares of Prothena in a research report on Friday, July 24th. One investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.57.

Prothena Price Performance

The company has a market cap of $440.11 million, a PE ratio of -10.05, a P/E/G ratio of 3.07 and a beta of -0.33. The firm has a 50-day simple moving average of $8.91 and a two-hundred day simple moving average of $9.36.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $0.42 million. Equities research analysts forecast that Prothena Corporation plc will post 0.08 EPS for the current year.

Insider Transactions at Prothena

In other Prothena news, General Counsel Michael Isaacs sold 8,386 shares of Prothena stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $8.47, for a total value of $71,029.42. Following the completion of the sale, the general counsel directly owned 35,745 shares of the company’s stock, valued at approximately $302,760.15. The trade was a 19.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder William P. Scully purchased 103,500 shares of the business’s stock in a transaction on Monday, September 28th. The stock was acquired at an average price of $8.60 per share, with a total value of $890,100.00. Following the completion of the acquisition, the insider directly owned 187,000 shares in the company, valued at $1,608,200. The trade was a 123.95% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 280,500 shares of company stock worth $2,428,290 over the last ninety days. 10.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Prothena

Several hedge funds have recently made changes to their positions in the business. Rubric Capital Management LP grew its holdings in Prothena by 36.0% in the first quarter. Rubric Capital Management LP now owns 5,000,000 shares of the biotechnology company’s stock valued at $48,600,000 after purchasing an additional 1,322,669 shares during the period. ADAR1 Capital Management LLC increased its holdings in shares of Prothena by 8.5% during the 1st quarter. ADAR1 Capital Management LLC now owns 1,581,443 shares of the biotechnology company’s stock worth $15,372,000 after buying an additional 123,679 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Prothena by 39.5% in the 1st quarter. Renaissance Technologies LLC now owns 607,515 shares of the biotechnology company’s stock worth $5,905,000 after buying an additional 172,000 shares during the period. Focused Wealth Management Inc raised its position in shares of Prothena by 93.0% in the 1st quarter. Focused Wealth Management Inc now owns 207,403 shares of the biotechnology company’s stock worth $2,016,000 after buying an additional 99,924 shares during the period. Finally, Penbrook Management LLC acquired a new position in Prothena in the first quarter valued at $2,641,000. Institutional investors and hedge funds own 97.08% of the company’s stock.

Prothena Company Profile

Prothena Corporation plc (NASDAQ: PRTA) is a clinical-stage biotechnology company focused on discovering and developing novel therapies for neurodegenerative and other protein-misfolding diseases. The company’s research is based on targeting abnormal proteins and the biological processes associated with their accumulation in tissue.

Prothena’s lead programs include birtamimab, an investigational antibody being developed for patients with AL amyloidosis, and prasinezumab, an investigational antibody targeting alpha-synuclein for Parkinson’s disease.