Prothena (NASDAQ:PRTA) Shares Gap Up to $58.58

Prothena Co. plc (NASDAQ:PRTAGet Rating) gapped up before the market opened on Thursday . The stock had previously closed at $58.58, but opened at $60.04. Prothena shares last traded at $58.13, with a volume of 908 shares.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PRTA shares. Citigroup increased their price target on shares of Prothena from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, October 24th. StockNews.com began coverage on shares of Prothena in a research report on Wednesday, October 12th. They set a “hold” rating for the company. TheStreet cut shares of Prothena from a “c-” rating to a “d” rating in a research report on Friday, November 11th. JMP Securities upped their price objective on shares of Prothena from $50.00 to $81.00 in a research report on Wednesday, September 28th. Finally, Bank of America upgraded shares of Prothena from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $45.00 to $65.00 in a research report on Wednesday, September 28th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.40.

Prothena Stock Up 2.2 %

The stock’s 50-day moving average price is $51.21 and its 200 day moving average price is $36.40. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -17.40 and a beta of 0.48.

Insider Buying and Selling

In related news, insider Lars Ekman sold 31,666 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $48.09, for a total transaction of $1,522,817.94. Following the completion of the sale, the insider now directly owns 243 shares in the company, valued at $11,685.87. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Tran Nguyen sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $30.17, for a total transaction of $301,700.00. Following the completion of the sale, the chief financial officer now directly owns 3,200 shares in the company, valued at $96,544. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lars Ekman sold 31,666 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $48.09, for a total transaction of $1,522,817.94. Following the sale, the insider now owns 243 shares of the company’s stock, valued at $11,685.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,631 shares of company stock worth $9,583,064. Insiders own 31.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. purchased a new position in Prothena during the third quarter worth about $27,000. Lazard Asset Management LLC boosted its stake in Prothena by 61.1% during the first quarter. Lazard Asset Management LLC now owns 1,733 shares of the biotechnology company’s stock worth $63,000 after buying an additional 657 shares during the period. Virtus ETF Advisers LLC boosted its stake in Prothena by 22.7% during the second quarter. Virtus ETF Advisers LLC now owns 4,523 shares of the biotechnology company’s stock worth $123,000 after buying an additional 837 shares during the period. Point72 Hong Kong Ltd purchased a new position in Prothena during the first quarter worth about $141,000. Finally, Fieldpoint Private Securities LLC boosted its stake in Prothena by 50.0% during the second quarter. Fieldpoint Private Securities LLC now owns 6,000 shares of the biotechnology company’s stock worth $163,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 93.92% of the company’s stock.

Prothena Company Profile

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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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