Prothena (NASDAQ:PRTA) Insider Anne Evans Kingston Sells 7,662 Shares of Stock

Key Points

• Insider sale: Anne Evans Kingston sold 7,662 Prothena shares at an average price of $8.47, receiving approximately $64,897. Her remaining ownership fell 12.08% to 55,782 shares.
• Stock performance: Prothena shares declined 1.8% to $8.41, near the lower half of their 12-month range of $6.61 to $11.80. The company reported quarterly EPS of $0.60, beating the consensus estimate of a $0.31 loss.
• Investor and analyst sentiment: Institutional investors own 97.08% of Prothena, with several firms increasing their positions. Analysts maintain a consensus “Moderate Buy” rating and a $23.75 price target, although recent ratings range from Sell to Buy.

Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) insider Anne Evans Kingston sold 7,662 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $8.47, for a total transaction of $64,897.14. Following the completion of the transaction, the insider directly owned 55,782 shares of the company's stock, valued at approximately $472,473.54. This trade represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Prothena Trading Down 1.8%

Shares of NASDAQ:PRTA traded down $0.15 during trading on Thursday, hitting $8.41. 502,233 shares of the stock were exchanged, compared to its average volume of 535,030. The company has a market cap of $440.26 million, a PE ratio of -2.98, a P/E/G ratio of 1.37 and a beta of -0.31. The company has a fifty day moving average price of $9.09 and a two-hundred day moving average price of $9.43. Prothena Corporation plc has a 12-month low of $6.61 and a 12-month high of $11.80.

Prothena (NASDAQ:PRTA - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.91. The firm 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%. Equities research analysts anticipate that Prothena Corporation plc will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prothena

A number of large investors have recently bought and sold shares of PRTA. Rubric Capital Management LP raised its holdings 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 acquiring an additional 1,322,669 shares during the last quarter. ADAR1 Capital Management LLC boosted its stake in shares of 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 last quarter. Focused Wealth Management Inc increased its position in Prothena by 93.0% during the 1st quarter. Focused Wealth Management Inc now owns 207,403 shares of the biotechnology company's stock worth $2,016,000 after purchasing an additional 99,924 shares in the last quarter. Penbrook Management LLC purchased a new stake in Prothena during the 1st quarter worth about $2,641,000. Finally, SG Americas Securities LLC raised its stake in Prothena by 11.1% in the 4th quarter. SG Americas Securities LLC now owns 63,018 shares of the biotechnology company's stock valued at $602,000 after purchasing an additional 6,299 shares during the last quarter. Institutional investors and hedge funds own 97.08% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PRTA. Weiss Ratings raised Prothena from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday. 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. Citigroup restated an "outperform" rating on shares of Prothena in a report on Friday, May 8th. UBS Group restated a "buy" rating on shares of Prothena in a research report on Friday, July 24th. Finally, Wall Street Zen downgraded shares of Prothena from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. One 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 given a Sell rating to the company. According to data from MarketBeat, Prothena presently has a consensus rating of "Moderate Buy" and a consensus 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.

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