Prothena Corp. (PRTA) Stock Price Down 3.3% After Insider Selling
Shares of Prothena Corp. (NASDAQ:PRTA) fell 3.3% during trading on Monday after an insider sold shares in the company. The stock traded as low as $51.80 and last traded at $51.80, with a volume of 254,030 shares trading hands. The stock had previously closed at $53.55.
Specifically, insider Arthur W. Homan sold 9,375 shares of Prothena Corp. stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $52.14, for a total transaction of $488,812.50. Following the completion of the sale, the insider now directly owns 9,375 shares in the company, valued at approximately $488,812.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Arthur W. Homan sold 3,125 shares of Prothena Corp. stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $52.16, for a total transaction of $163,000.00. Following the sale, the insider now owns 3,125 shares of the company’s stock, valued at $163,000. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
Several brokerages have commented on PRTA. Zacks Investment Research cut shares of Prothena Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Wedbush restated an “outperform” rating and set a $77.00 price objective on shares of Prothena Corp. in a research note on Wednesday, August 3rd. Credit Suisse Group AG restated a “buy” rating on shares of Prothena Corp. in a research note on Tuesday, July 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 target price on shares of Prothena Corp. in a research note on Monday, July 18th. Finally, Barclays PLC boosted their target price on shares of Prothena Corp. from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $76.80.
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The firm has a 50-day moving average price of $57.27 and a 200-day moving average price of $49.19. The company’s market capitalization is $1.77 billion.
Prothena Corp. (NASDAQ:PRTA) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by $0.27. The firm had revenue of $0.33 million for the quarter, compared to analyst estimates of $0.39 million. Prothena Corp. had a negative return on equity of 28.15% and a negative net margin of 8,628.11%. The firm’s revenue was up 22.2% on a year-over-year basis. On average, equities analysts predict that Prothena Corp. will post ($4.25) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Prothena Corp. by 2.8% in the second quarter. Principal Financial Group Inc. now owns 6,112 shares of the company’s stock valued at $214,000 after buying an additional 168 shares during the period. Nationwide Fund Advisors increased its position in shares of Prothena Corp. by 0.4% in the second quarter. Nationwide Fund Advisors now owns 51,659 shares of the company’s stock valued at $1,806,000 after buying an additional 219 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Prothena Corp. by 0.9% in the second quarter. ProShare Advisors LLC now owns 29,816 shares of the company’s stock valued at $1,042,000 after buying an additional 266 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Prothena Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,021 shares of the company’s stock valued at $141,000 after buying an additional 493 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Prothena Corp. by 1.8% in the second quarter. Swiss National Bank now owns 49,900 shares of the company’s stock valued at $1,745,000 after buying an additional 900 shares during the last quarter.
About Prothena Corp.
Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis (PRX003).
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