Prothena (NASDAQ:PRTA) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Prothena Corporation plc (NASDAQ:PRTA)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.46 and traded as low as $8.51. Prothena shares last traded at $8.75, with a volume of 647,643 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PRTA. Citigroup reissued an “outperform” rating on shares of Prothena in a research report on Friday, May 8th. Weiss Ratings cut Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. Wall Street Zen upgraded Prothena from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Citizens Jmp increased their target price on Prothena from $19.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.75.

Prothena Stock Up 0.9%

The firm has a market capitalization of $458.06 million, a P/E ratio of -3.10, a PEG ratio of 1.39 and a beta of -0.31. The business’s 50 day moving average is $9.22 and its 200-day moving average is $9.46.

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

Insider Activity at Prothena

In other Prothena news, major shareholder William P. Scully purchased 125,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $8.17 per share, with a total value of $1,021,250.00. Following the acquisition, the insider owned 1,061,000 shares of the company’s stock, valued at approximately $8,668,370. This represents a 13.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders acquired 345,000 shares of company stock worth $3,097,250. 10.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in Prothena by 571.0% during the second quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company’s stock worth $77,000 after acquiring an additional 10,815 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Prothena in the 4th quarter valued at approximately $100,000. PDT Partners LLC acquired a new stake in shares of Prothena in the 4th quarter valued at approximately $108,000. Voleon Capital Management LP bought a new stake in shares of Prothena during the 2nd quarter valued at approximately $113,000. Finally, DRW Securities LLC bought a new stake in shares of Prothena during the 4th quarter valued at approximately $114,000. Institutional investors own 97.08% of the company’s stock.

Prothena Company Profile

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.