Prothena Co. plc (NASDAQ:PRTA) Insider Michael J. Malecek Sells 15,000 Shares of Stock

Posted by admin on Mar 18th, 2023

Prothena Co. plc (NASDAQ:PRTA – Get Rating) insider Michael J. Malecek sold 15,000 shares of Prothena stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $48.44, for a total transaction of $726,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Prothena Price Performance

Shares of NASDAQ:PRTA traded down $0.70 during midday trading on Friday, reaching $48.27. The company had a trading volume of 1,079,819 shares, compared to its average volume of 503,695. The stock’s fifty day moving average price is $53.84 and its 200-day moving average price is $52.49. The stock has a market capitalization of $2.54 billion, a P/E ratio of -19.23 and a beta of 0.41. Prothena Co. plc has a one year low of $21.06 and a one year high of $66.47.

Prothena (NASDAQ:PRTA – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.76. The business had revenue of $49.90 million during the quarter, compared to analyst estimates of $29.14 million. Prothena had a negative net margin of 216.95% and a negative return on equity of 24.98%. The business’s revenue was up 4058.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.71) earnings per share. As a group, sell-side analysts forecast that Prothena Co. plc will post -3.7 earnings per share for the current year.

Institutional Trading of Prothena

Several institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC increased its stake in Prothena by 38.7% during the fourth quarter. Voya Investment Management LLC now owns 38,000 shares of the biotechnology company’s stock valued at $2,290,000 after purchasing an additional 10,610 shares during the last quarter. Macquarie Group Ltd. increased its stake in Prothena by 3,195.2% during the fourth quarter. Macquarie Group Ltd. now owns 28,569 shares of the biotechnology company’s stock valued at $1,721,000 after purchasing an additional 27,702 shares during the last quarter. Point72 Middle East FZE bought a new stake in Prothena during the fourth quarter valued at $48,000. Captrust Financial Advisors bought a new stake in Prothena during the fourth quarter valued at $240,000. Finally, Squarepoint Ops LLC bought a new stake in Prothena during the fourth quarter valued at $332,000. Institutional investors own 91.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PRTA. Piper Sandler began coverage on shares of Prothena in a research report on Friday, January 27th. They set an “overweight” rating and a $94.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $75.00 target price on shares of Prothena in a research report on Friday, February 24th. Citigroup reduced their target price on shares of Prothena from $76.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, February 27th. Cantor Fitzgerald boosted their target price on shares of Prothena from $91.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 21st. Finally, StockNews.com began coverage on shares of Prothena in a research report on Thursday. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.50.

About Prothena

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Prothena Corp. Plc is a clinical-stage neuroscience company. It focuses on the discovery and development of novel therapies to change the course of devastating diseases. The firm’s clinical pipeline includes both wholly-owned and partnered programs being developed for the potential treatment of diseases including AL amyloidosis, ATTR amyloidosis, Alzheimer’s disease, Parkinson’s disease and other neurodegenerative diseases.