Prothena (NASDAQ:PRTA) Major Shareholder Purchases $255,690.00 in Stock

Key Points

• Major shareholder William Scully purchased 27,000 Prothena shares at an average price of $9.47, investing $255,690 and increasing his stake by 3.38% to 827,000 shares.
• Prothena shares fell 0.9% to $9.60 in mid-day trading, while the company reported a quarterly loss of $0.32 per share—better than analysts’ expected $0.39 loss—and revenue of $1.01 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $24.57, and institutional investors collectively own 97.08% of Prothena’s outstanding shares.

Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) major shareholder William Scully acquired 27,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were purchased at an average price of $9.47 per share, for a total transaction of $255,690.00. Following the completion of the transaction, the insider owned 827,000 shares in the company, valued at approximately $7,831,690. This represents a 3.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Prothena Stock Down 0.9%

Shares of PRTA traded down $0.09 during mid-day trading on Thursday, reaching $9.60. The company's stock had a trading volume of 275,198 shares, compared to its average volume of 508,436. The business has a fifty day moving average of $9.06 and a 200 day moving average of $9.41. The company has a market cap of $502.59 million, a price-to-earnings ratio of -11.43, a price-to-earnings-growth ratio of 3.39 and a beta of -0.33. Prothena Corporation plc has a 1 year low of $7.73 and a 1 year high of $11.80.

Prothena (NASDAQ:PRTA - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.32) earnings per share for the quarter, beating analysts' consensus estimates of ($0.39) by $0.07. The business had revenue of $1.01 million for the quarter, compared to the consensus estimate of $0.42 million. Prothena had a negative return on equity of 16.45% and a negative net margin of 80.68%. On average, analysts predict that Prothena Corporation plc will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citizens Jmp increased their price target on shares of Prothena from $19.00 to $20.00 and gave the stock a "market outperform" rating in a research report on Friday, May 8th. Wall Street Zen lowered shares of Prothena from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Prothena in a research report on Friday, July 24th. UBS Group reissued a "buy" rating on shares of Prothena in a research note on Friday, July 24th. Finally, Weiss Ratings lowered shares of Prothena from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 11th. One research 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Rubric Capital Management LP increased its stake in shares of Prothena by 36.0% in the first quarter. Rubric Capital Management LP now owns 5,000,000 shares of the biotechnology company's stock worth $48,600,000 after purchasing an additional 1,322,669 shares during the period. State Street Corp grew its position in Prothena by 151.7% in the 4th quarter. State Street Corp now owns 2,267,802 shares of the biotechnology company's stock worth $21,658,000 after purchasing an additional 1,366,764 shares during the last quarter. ADAR1 Capital Management LLC increased its stake in Prothena by 8.5% during the first quarter. ADAR1 Capital Management LLC now owns 1,581,443 shares of the biotechnology company's stock valued at $15,372,000 after acquiring an additional 123,679 shares during the period. Palo Alto Investors LP lifted its position in shares of Prothena by 3.9% in the 3rd quarter. Palo Alto Investors LP now owns 1,324,028 shares of the biotechnology company's stock worth $12,923,000 after acquiring an additional 49,275 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Prothena by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 1,063,069 shares of the biotechnology company's stock worth $10,154,000 after purchasing an additional 43,586 shares in the last quarter. Institutional investors and hedge funds own 97.08% of the company's stock.

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.

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