Prothena Co. plc (NASDAQ:PRTA) CEO Gene G. Kinney Sells 21,506 Shares

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 transaction of $706,041.98. Following the completion of the sale, the chief executive officer now directly owns 12,793 shares in the company, valued at $419,994.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Prothena Stock Up 2.6 %

Shares of PRTA stock opened at $33.11 on Friday. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 27.14 and a beta of 1.31. The company’s 50 day moving average is $28.49 and its 200 day moving average is $31.58. Prothena Co. plc has a 52-week low of $21.06 and a 52-week high of $79.75.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Prothena

Several institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in Prothena by 20.0% during the first quarter. State Street Corp now owns 2,367,583 shares of the biotechnology company’s stock valued at $86,583,000 after buying an additional 394,633 shares during the period. First Light Asset Management LLC increased its holdings in Prothena by 13.3% during the first quarter. First Light Asset Management LLC now owns 1,838,548 shares of the biotechnology company’s stock valued at $67,236,000 after buying an additional 215,607 shares during the period. Dimensional Fund Advisors LP increased its holdings in Prothena by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,505,156 shares of the biotechnology company’s stock valued at $55,044,000 after buying an additional 6,619 shares during the period. Rock Springs Capital Management LP boosted its stake in Prothena by 2.4% in the first 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 boosted its stake in Prothena by 14.9% in the first 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.

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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