Prothena (NASDAQ:PRTA) General Counsel Michael John Isaacs Sells 8,386 Shares of Stock

Prothena Corporation plc (NASDAQ:PRTA) General Counsel Michael John Isaacs sold 8,386 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $8.47, for a total transaction of $71,029.42. Following the sale, the general counsel owned 35,745 shares of the company’s stock, valued at $302,760.15. This trade represents a 19.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Prothena Stock Down 1.8%

NASDAQ:PRTA opened at $8.41 on Friday. The firm has a market cap of $440.26 million, a PE ratio of -2.98, a price-to-earnings-growth ratio of 1.37 and a beta of -0.31. Prothena Corporation plc has a 12 month low of $6.61 and a 12 month high of $11.80. The company’s 50-day moving average price is $9.09 and its two-hundred day moving average price is $9.43.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings data 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 company had revenue of $51.08 million during the quarter, compared to analyst estimates 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 expect that Prothena Corporation plc will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Prothena

A number of hedge funds and other institutional investors have recently made changes to their positions in PRTA. Rubric Capital Management LP raised its holdings in Prothena by 36.0% during the 1st quarter. Rubric Capital Management LP now owns 5,000,000 shares of the biotechnology company’s stock worth $48,600,000 after buying an additional 1,322,669 shares during the period. ADAR1 Capital Management LLC boosted its position in shares of 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 buying an additional 123,679 shares during the period. Focused Wealth Management Inc boosted its position in shares of Prothena by 93.0% during the first quarter. Focused Wealth Management Inc now owns 207,403 shares of the biotechnology company’s stock worth $2,016,000 after buying an additional 99,924 shares during the period. Penbrook Management LLC bought a new position in shares of Prothena during the first quarter worth about $2,641,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Prothena by 7.9% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 91,284 shares of the biotechnology company’s stock worth $872,000 after buying an additional 6,686 shares in the last quarter. 97.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PRTA shares. Weiss Ratings raised shares of Prothena from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. UBS Group restated a “buy” rating on shares of Prothena in a research report on Friday, July 24th. Wall Street Zen lowered Prothena from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Prothena in a research report on Friday, July 24th. Finally, Citizens Jmp raised their target price on shares of Prothena from $19.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

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.