Prothena Corporation plc $PRTA Shares Purchased by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC grew its stake in shares of Prothena Corporation plc (NASDAQ:PRTA - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,581,443 shares of the biotechnology company's stock after acquiring an additional 123,679 shares during the period. Prothena comprises approximately 0.9% of ADAR1 Capital Management LLC's holdings, making the stock its 23rd biggest position. ADAR1 Capital Management LLC owned 3.02% of Prothena worth $15,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Prothena in the 1st quarter valued at about $230,000. Creative Planning increased its holdings in Prothena by 373.0% in the second quarter. Creative Planning now owns 50,569 shares of the biotechnology company's stock valued at $307,000 after buying an additional 39,879 shares during the last quarter. American Century Companies Inc. increased its holdings in Prothena by 72.1% in the second quarter. American Century Companies Inc. now owns 59,965 shares of the biotechnology company's stock valued at $364,000 after buying an additional 25,129 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Prothena by 7,956.6% during the second quarter. Russell Investments Group Ltd. now owns 96,196 shares of the biotechnology company's stock valued at $584,000 after buying an additional 95,002 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Prothena by 251.8% during the second quarter. Hsbc Holdings PLC now owns 46,047 shares of the biotechnology company's stock valued at $282,000 after buying an additional 32,959 shares in the last quarter. Institutional investors own 97.08% of the company's stock.

Insider Transactions at Prothena

In other Prothena news, major shareholder William P. Scully bought 20,000 shares of Prothena stock in a transaction dated Tuesday, June 16th. The stock was bought at an average price of $7.90 per share, for a total transaction of $158,000.00. Following the completion of the acquisition, the insider directly owned 756,000 shares of the company's stock, valued at approximately $5,972,400. This trade represents a 2.72% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have acquired 345,000 shares of company stock worth $3,097,250. 10.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of Prothena in a research note on Friday. UBS Group reaffirmed a "buy" rating on shares of Prothena in a report on Friday. Weiss Ratings lowered shares of Prothena from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, July 9th. Citigroup reissued an "outperform" rating on shares of Prothena in a report on Friday, May 8th. Finally, Wall Street Zen downgraded Prothena from a "buy" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Prothena presently has an average rating of "Moderate Buy" and a consensus target price of $23.75.

Prothena Stock Down 1.6%

Shares of NASDAQ PRTA opened at $8.56 on Wednesday. The stock's fifty day simple moving average is $9.12 and its 200 day simple moving average is $9.44. The stock has a market capitalization of $448.14 million, a price-to-earnings ratio of -3.04, a PEG ratio of 1.39 and a beta of -0.31. Prothena Corporation plc has a 52-week low of $6.61 and a 52-week high of $11.80.

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

Prothena Company Profile

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.

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