Armistice Capital LLC Sells 324,000 Shares of Prothena Corporation plc $PRTA

Armistice Capital LLC cut its stake in shares of Prothena Corporation plc (NASDAQ:PRTA) by 17.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,500,000 shares of the biotechnology company’s stock after selling 324,000 shares during the quarter. Armistice Capital LLC’s holdings in Prothena were worth $14,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PRTA. Tower Research Capital LLC TRC lifted its position in Prothena by 571.0% in the second quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 10,815 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of Prothena in the fourth quarter worth approximately $100,000. PDT Partners LLC purchased a new position in shares of Prothena in the fourth quarter worth $108,000. Voleon Capital Management LP bought a new stake in Prothena during the 2nd quarter valued at $113,000. Finally, DRW Securities LLC bought a new stake in Prothena during the 4th quarter valued at $114,000. 97.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PRTA shares. Wall Street Zen raised shares of Prothena from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings lowered shares of Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Citigroup reissued an “outperform” rating on shares of Prothena in a research note on Friday, May 8th. Citizens Jmp boosted their price target on Prothena from $19.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada increased their price objective on Prothena from $11.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Prothena presently has an average rating of “Moderate Buy” and an average price target of $23.75.

Insider Activity

In other news, major shareholder William P. Scully bought 125,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $8.17 per share, with a total value of $1,021,250.00. Following the transaction, the insider owned 1,061,000 shares of the company’s stock, valued at approximately $8,668,370. The trade was a 13.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders purchased 325,000 shares of company stock valued at $2,939,250. 10.40% of the stock is currently owned by corporate insiders.

Prothena Trading Up 2.4%

Shares of PRTA opened at $8.49 on Thursday. Prothena Corporation plc has a 1-year low of $5.64 and a 1-year high of $11.80. The firm’s 50-day moving average price is $9.89 and its 200-day moving average price is $9.59. The firm has a market capitalization of $444.45 million, a price-to-earnings ratio of -3.01, a PEG ratio of 1.33 and a beta of -0.25.

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

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.