Prothena (NASDAQ:PRTA) Major Shareholder William Scully Purchases 100,000 Shares of Stock

Prothena Corporation plc (NASDAQ:PRTA) major shareholder William Scully acquired 100,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was bought at an average price of $9.81 per share, with a total value of $981,000.00. Following the purchase, the insider directly owned 836,000 shares of the company’s stock, valued at $8,201,160. This represents a 13.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Prothena Price Performance

NASDAQ PRTA opened at $10.06 on Wednesday. Prothena Corporation plc has a 1 year low of $4.32 and a 1 year high of $11.80. The company has a market capitalization of $526.64 million, a PE ratio of -3.57, a P/E/G ratio of 1.57 and a beta of -0.23. The company has a fifty day moving average of $10.02 and a two-hundred day moving average of $9.75.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.91. Prothena had a negative net margin of 260.92% and a negative return on equity of 43.44%. The company had revenue of $51.08 million during the quarter, compared to the consensus estimate of $0.81 million. On average, research analysts expect that Prothena Corporation plc will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

PRTA has been the subject of several recent research reports. Royal Bank Of Canada increased their target price on shares of Prothena from $11.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. Citigroup reiterated an “outperform” rating on shares of Prothena in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Prothena from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 14th. Stifel Nicolaus set a $19.00 target price on shares of Prothena in a research note on Friday, March 13th. Finally, Citizens Jmp increased their target price on shares of Prothena from $19.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.75.

Institutional Investors Weigh In On Prothena

Several hedge funds have recently made changes to their positions in the business. Rubric Capital Management LP raised its holdings in Prothena by 36.0% during 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 in the last quarter. State Street Corp raised its holdings in Prothena by 151.7% during the fourth 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 in the last quarter. ADAR1 Capital Management LLC raised its holdings 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 worth $15,372,000 after purchasing an additional 123,679 shares in the last quarter. Palo Alto Investors LP raised its holdings in Prothena by 3.9% during the third quarter. Palo Alto Investors LP now owns 1,324,028 shares of the biotechnology company’s stock worth $12,923,000 after purchasing an additional 49,275 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Prothena by 4.3% during the fourth 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.