Prothena Co. plc (NASDAQ:PRTA) CEO Sells $706,041.98 in Stock

Prothena Co. plc (NASDAQ:PRTAGet Rating) CEO Gene G. Kinney sold 21,506 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $32.83, for a total value of $706,041.98. Following the completion of the sale, the chief executive officer now directly owns 12,793 shares of the company’s stock, valued at $419,994.19. The sale was disclosed in a filing with the SEC, which is available at this link.

Prothena Stock Up 2.6 %

Shares of PRTA traded up $0.85 during midday trading on Friday, reaching $33.11. 238,684 shares of the stock were exchanged, compared to its average volume of 411,885. Prothena Co. plc has a 12-month low of $21.06 and a 12-month high of $79.75. The firm has a 50 day simple moving average of $28.49 and a 200-day simple moving average of $31.58. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 27.14 and a beta of 1.31.

Prothena (NASDAQ:PRTAGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The biotechnology company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.07. Prothena had a return on equity of 16.02% and a net margin of 33.45%. The company had revenue of $1.15 million during the quarter, compared to the consensus estimate of $0.23 million. Research analysts expect that Prothena Co. plc will post -2.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prothena

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its stake in shares of Prothena by 20.0% during the 1st quarter. State Street Corp now owns 2,367,583 shares of the biotechnology company’s stock worth $86,583,000 after purchasing an additional 394,633 shares in the last quarter. First Light Asset Management LLC raised its stake in shares of Prothena by 13.3% during the 1st quarter. First Light Asset Management LLC now owns 1,838,548 shares of the biotechnology company’s stock worth $67,236,000 after purchasing an additional 215,607 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Prothena by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,505,156 shares of the biotechnology company’s stock valued at $55,044,000 after acquiring an additional 6,619 shares in the last quarter. Rock Springs Capital Management LP raised its stake in shares of Prothena by 2.4% in the 1st quarter. Rock Springs Capital Management LP now owns 663,530 shares of the biotechnology company’s stock valued at $24,265,000 after acquiring an additional 15,800 shares in the last quarter. Finally, Prosight Management LP raised its stake in shares of Prothena by 14.9% in the 1st quarter. Prosight Management LP now owns 566,538 shares of the biotechnology company’s stock valued at $20,718,000 after acquiring an additional 73,438 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities reduced their price objective on Prothena from $77.00 to $50.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Prothena has an average rating of “Moderate Buy” and an average price target of $70.33.

About Prothena

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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 Birtamimab, an investigational humanized antibody that is in Phase III clinical trial for the treatment of AL amyloidosis; Prasinezumab, a humanized monoclonal antibody, which is in Phase IIb clinical trial for the treatment of Parkinson's disease; PRX004 that completed Phase I clinical trial for the treatment of Transthyretin amyloidosis; and PRX005, which is in Phase I clinical trial for the treatment of Alzheimer's disease.

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