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

Prothena Corporation plc (NASDAQ:PRTA) 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 value of $64,897.14. Following the completion of the sale, the insider owned 55,782 shares of the company’s stock, valued at approximately $472,473.54. This trade represents a 12.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Prothena Stock Performance

Prothena stock opened at $8.12 on Friday. The stock’s 50 day moving average price is $9.05 and its 200 day moving average price is $9.42. The firm has a market capitalization of $425.11 million, a PE ratio of -2.88, a price-to-earnings-growth ratio of 1.35 and a beta of -0.31. Prothena Corporation plc has a one year low of $6.61 and a one year high of $11.80.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Prothena from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings raised shares of Prothena from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Prothena in a report on Friday, July 24th. UBS Group reiterated a “buy” rating on shares of Prothena in a report on Friday, July 24th. Finally, Citizens Jmp upped their price objective on shares of Prothena from $19.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Prothena currently has a consensus rating of “Moderate Buy” and an average target price of $23.75.

Hedge Funds Weigh In On Prothena

Institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC grew its position in shares of Prothena by 5.5% during the third quarter. Intech Investment Management LLC now owns 19,388 shares of the biotechnology company’s stock worth $189,000 after buying an additional 1,014 shares in the last quarter. Brooklyn Investment Group raised its holdings in Prothena by 13.1% in the third quarter. Brooklyn Investment Group now owns 12,569 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 1,456 shares in the last quarter. Deutsche Bank AG raised its holdings in Prothena by 5.1% in the fourth quarter. Deutsche Bank AG now owns 35,482 shares of the biotechnology company’s stock valued at $339,000 after acquiring an additional 1,709 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Prothena by 2.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 90,795 shares of the biotechnology company’s stock valued at $889,000 after acquiring an additional 2,251 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Prothena by 3.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 81,515 shares of the biotechnology company’s stock valued at $779,000 after acquiring an additional 2,968 shares during the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

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.