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

Prothena Co. plc (NASDAQ:PRTA – Get Rating) insider Michael J. Malecek sold 15,000 shares of the business’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $48.44, for a total transaction of $726,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Prothena Stock Down 1.4 %

Shares of PRTA opened at $48.27 on Friday. Prothena Co. plc has a fifty-two week low of $21.06 and a fifty-two week high of $66.47. The firm’s 50 day moving average price is $53.84 and its 200 day moving average price is $52.66. The company has a market cap of $2.54 billion, a P/E ratio of -19.23 and a beta of 0.41.

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

Institutional Investors Weigh In On Prothena

Large investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Prothena in the 3rd quarter valued at approximately $395,000. Monarch Partners Asset Management LLC purchased a new stake in shares of Prothena in the 3rd quarter valued at approximately $2,023,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Prothena in the 3rd quarter valued at approximately $27,000. Federated Hermes Inc. increased its position in shares of Prothena by 7,675.6% in the 3rd quarter. Federated Hermes Inc. now owns 350,137 shares of the biotechnology company’s stock valued at $21,229,000 after purchasing an additional 345,634 shares during the last quarter. Finally, Credit Suisse AG boosted its holdings in shares of Prothena by 12.8% in the 3rd quarter. Credit Suisse AG now owns 31,278 shares of the biotechnology company’s stock valued at $1,897,000 after buying an additional 3,554 shares in the last quarter. 91.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on PRTA shares. Citigroup decreased their target price on shares of Prothena from $76.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, February 27th. StockNews.com started coverage on shares of Prothena in a report on Thursday. They issued a “hold” rating on the stock. Piper Sandler assumed coverage on shares of Prothena in a report on Friday, January 27th. They issued an “overweight” rating and a $94.00 target price on the stock. Cantor Fitzgerald boosted their price target on shares of Prothena from $91.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, December 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of Prothena in a research note on Friday, February 24th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.