Prothena Co. plc (NASDAQ:PRTA) saw a large increase in short interest in the month of October. As of October 29th, there was short interest totalling 1,880,000 shares, an increase of 27.0% from the October 14th total of 1,480,000 shares. Based on an average daily volume of 344,000 shares, the days-to-cover ratio is presently 5.5 days.
Shares of NASDAQ PRTA traded up $4.14 during mid-day trading on Friday, hitting $58.73. The company had a trading volume of 351,245 shares, compared to its average volume of 415,152. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 57.02, a PEG ratio of 15.49 and a beta of 1.24. Prothena has a 12 month low of $10.72 and a 12 month high of $79.75. The firm's 50 day simple moving average is $65.18 and its two-hundred day simple moving average is $53.99.
Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Thursday, November 4th. The biotechnology company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.12). Prothena had a return on equity of 23.20% and a net margin of 34.76%. During the same period in the prior year, the company posted ($0.77) earnings per share. Equities analysts anticipate that Prothena will post 1.57 earnings per share for the current year.
In related news, insider Carol D. Karp sold 10,000 shares of the firm's stock in a transaction dated Friday, October 1st. The stock was sold at an average price of $68.23, for a total transaction of $682,300.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Karin L. Walker sold 23,000 shares of the firm's stock in a transaction dated Wednesday, October 20th. The shares were sold at an average price of $60.25, for a total value of $1,385,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,000 shares of company stock worth $4,114,250. Company insiders own 30.40% of the company's stock.
Several hedge funds and other institutional investors have recently made changes to their positions in PRTA. Nisa Investment Advisors LLC lifted its holdings in shares of Prothena by 106.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,030 shares of the biotechnology company's stock worth $53,000 after purchasing an additional 530 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Prothena in the 2nd quarter worth approximately $82,000. Parallel Advisors LLC lifted its holdings in shares of Prothena by 60.3% in the 2nd quarter. Parallel Advisors LLC now owns 1,595 shares of the biotechnology company's stock worth $82,000 after purchasing an additional 600 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in Prothena by 1,129.1% during the 3rd quarter. Advisor Group Holdings Inc. now owns 1,438 shares of the biotechnology company's stock valued at $101,000 after acquiring an additional 1,321 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new stake in Prothena during the 3rd quarter valued at $110,000. 91.48% of the stock is currently owned by institutional investors and hedge funds.
PRTA has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on Prothena from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, September 27th. Zacks Investment Research lowered Prothena from a "buy" rating to a "hold" rating and set a $71.00 price objective for the company. in a research note on Monday, August 30th. Royal Bank of Canada raised their price objective on Prothena from $59.00 to $82.00 and gave the company an "outperform" rating in a research note on Thursday, September 30th. Fox-Davies Capital started coverage on Prothena in a research note on Monday, September 20th. They set an "overweight" rating and a $14.00 price objective for the company. Finally, Cantor Fitzgerald lifted their target price on Prothena from $70.00 to $103.00 and gave the stock an "overweight" rating in a research report on Friday, September 17th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $65.42.
Prothena Company Profile
Prothena Corp. Plc is a clinical-stage neuroscience company. It focuses on the discovery and development of novel therapies to change the course of devastating diseases. The firm's clinical pipeline includes both wholly-owned and partnered programs being developed for the potential treatment of diseases including AL amyloidosis, ATTR amyloidosis, Alzheimer's disease, Parkinson's disease and other neurodegenerative diseases.
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