Rangeley Capital LLC Lowers Holdings in Prothena Corporation plc $PRTA

Rangeley Capital LLC lessened its stake in shares of Prothena Corporation plc (NASDAQ:PRTA) by 14.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 449,460 shares of the biotechnology company’s stock after selling 75,140 shares during the quarter. Prothena comprises about 4.0% of Rangeley Capital LLC’s investment portfolio, making the stock its 3rd biggest holding. Rangeley Capital LLC owned 0.86% of Prothena worth $4,369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PRTA. ProShare Advisors LLC purchased a new position in shares of Prothena during the fourth quarter valued at approximately $100,000. PDT Partners LLC purchased a new stake in Prothena in the fourth quarter worth approximately $108,000. DRW Securities LLC bought a new stake in Prothena in the 4th quarter worth approximately $114,000. Brooklyn Investment Group grew its position in Prothena by 13.1% in the 3rd quarter. Brooklyn Investment Group now owns 12,569 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 1,456 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Prothena by 571.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company’s stock valued at $77,000 after buying an additional 10,815 shares during the last quarter. 97.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder William P. Scully purchased 125,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $8.17 per share, for a total transaction of $1,021,250.00. Following the acquisition, the insider directly owned 1,061,000 shares of the company’s stock, valued at $8,668,370. This represents a 13.35% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders purchased 345,000 shares of company stock worth $3,097,250. Company insiders own 10.40% of the company’s stock.

Prothena Stock Performance

PRTA stock opened at $8.75 on Monday. The company’s fifty day moving average price is $9.15 and its 200-day moving average price is $9.45. Prothena Corporation plc has a one year low of $6.58 and a one year high of $11.80. The company has a market capitalization of $458.06 million, a PE ratio of -3.10, a price-to-earnings-growth ratio of 1.40 and a beta of -0.31.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.60 earnings per share for the quarter, beating 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 analyst estimates of $0.81 million. On average, research analysts predict that Prothena Corporation plc will post 0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings cut Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. Citizens Jmp lifted their price objective on Prothena from $19.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, May 8th. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Prothena in a research report on Friday. Citigroup reissued an “outperform” rating on shares of Prothena in a report on Friday, May 8th. Finally, UBS Group reiterated a “buy” rating on shares of Prothena in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Prothena currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

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.