Prothena Co. plc (NASDAQ:PRTA)’s share price shot up 2.7% on Thursday . The company traded as high as $53.29 and last traded at $53.29. Approximately 211 shares were traded during trading, a decline of 100% from the average daily volume of 539,927 shares. The stock had previously closed at $51.90.
A number of brokerages have recently issued reports on PRTA. Royal Bank of Canada lifted their price target on Prothena from $50.00 to $59.00 and gave the company an “outperform” rating in a report on Monday. HC Wainwright boosted their target price on shares of Prothena from $58.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, July 13th. BTIG Research increased their price target on shares of Prothena from $29.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, June 25th. Citigroup boosted their price objective on shares of Prothena from $57.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, July 13th. Finally, started coverage on shares of Prothena in a research report on Wednesday, May 26th. They set a “buy” rating and a $39.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Prothena has an average rating of “Buy” and an average price target of $56.70.
The company has a market capitalization of $2.20 billion, a P/E ratio of -15.99, a PEG ratio of 96.70 and a beta of 1.58. The stock has a 50-day moving average of $41.89.
In other Prothena news, insider Wagner M. Zago sold 115,250 shares of Prothena stock in a transaction that occurred on Tuesday, June 22nd. The shares were sold at an average price of $46.15, for a total transaction of $5,318,787.50. Following the completion of the sale, the insider now directly owns 15,000 shares in the company, valued at approximately $692,250. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher S. Henney sold 23,892 shares of the company’s stock in a transaction on Monday, July 12th. The shares were sold at an average price of $55.51, for a total transaction of $1,326,244.92. Following the completion of the sale, the director now directly owns 17,500 shares in the company, valued at $971,425. The disclosure for this sale can be found here. In the last quarter, insiders have sold 162,250 shares of company stock worth $7,833,842. Company insiders own 30.40% of the company’s stock.
A number of large investors have recently bought and sold shares of PRTA. EAM Investors LLC purchased a new position in shares of Prothena during the 1st quarter valued at approximately $1,549,000. Rafferty Asset Management LLC purchased a new position in shares of Prothena during the 1st quarter valued at approximately $1,032,000. Palo Alto Investors LP increased its holdings in shares of Prothena by 3.0% during the 1st quarter. Palo Alto Investors LP now owns 1,742,505 shares of the biotechnology company’s stock valued at $43,772,000 after purchasing an additional 50,700 shares in the last quarter. ClariVest Asset Management LLC increased its holdings in shares of Prothena by 68,333.3% during the 1st quarter. ClariVest Asset Management LLC now owns 28,742 shares of the biotechnology company’s stock valued at $722,000 after purchasing an additional 28,700 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Prothena by 160.5% during the 4th quarter. Citigroup Inc. now owns 7,572 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 4,665 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.
About Prothena (NASDAQ:PRTA)
Prothena Corporation plc, a late-stage clinical company, focuses on discovery and development of novel therapies for life-threatening diseases in the United States. The company is involved in developing PRX002/RG7935 that is in Phase 2 clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, an antibody that is in Phase 1 clinical trial for the treatment of ATTR amyloidosis.
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