A company insider recently sold 20,000 shares of Prothena Corporation plc [PRTA]. Should You Sale?


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Prothena Corporation plc shares valued at $1,240,004 were sold by Malecek Michael J on Oct 27. At $62.00 per share, Malecek Michael J sold 20,000 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, Malecek Michael J sold 65,000 shares, netting a total of over 3,920,147 in proceeds. Following the sale of shares at $60.31 each, the insider now holds 0 shares.

Before that, Walker Karin L had sold 20,000 shares from its account. In a trade valued at $1,144,613, the Chief Accounting Officer traded Prothena Corporation plc shares for $57.23 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $0.0.

As published in a research note from BofA Securities on September 28, 2022, Prothena Corporation plc [PRTA] has been rated up from a Neutral to a Buy. Analysts at JMP Securities started covering the stock with ‘”a Mkt outperform”‘ outlook in a report released in mid November. As of June 18, 2021, BofA Securities has increased its “an Underperform” rating to a “Neutral” for PRTA. Earlier on June 08, 2021, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for PRTA stock.

Analyzing PRTA Stock Performance

On Wednesday, Prothena Corporation plc [NASDAQ: PRTA] plunged -5.69% to $59.84. The stock’s lowest price that day was $59.83, but it reached a high of $63.36 in the same session. During the last five days, there has been a drop of approximately -0.73%. Over the course of the year, Prothena Corporation plc shares have jumped approximately 21.13%. Shares of the company reached a 52-week high of $65.35 on 11/01/22 and a 52-week low of $21.06 on 06/16/22. A 50-day SMA is recorded $44.23, while a 200-day SMA reached $34.74. Nevertheless, trading volume fell to 0.56 million shares from 0.52 million shares the previous day.

Support And Resistance Levels for Prothena Corporation plc (PRTA)

According to the 24-hour chart, there is a support level at 58.66, which, if violated, would cause prices to drop to 57.48. In the upper region, resistance lies at 62.19. The next price resistance is at 64.54. RSI (Relative Strength Index) is 60.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.38, which suggests the price will increase in the coming days. Percent R is at 45.54%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Prothena Corporation plc subject to short interest?

Stocks of Prothena Corporation plc saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.3 million shares to 3.02 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.32 million shares. A decline of -9.93% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.27 of the overall float, the days-to-cover ratio (short ratio) decline to 8.27.

Which companies own the most shares of Prothena Corporation plc (PRTA)?

According to Ecor1 Capital LLC filings, the company currently owns 11,584,280 shares, which is about 24.69% of the total PRTA shares outstanding. With the completion of the sale transaction, T. Rowe Price Associates, Inc.’s stake is now worth $361,705,726. Fidelity Management & Research Co acquire a 9.34% interest valued at $177.36 million while BlackRock Fund Advisors sold a -109,779 stake. A total of -121,510 shares of Prothena Corporation plc were sold by SSgA Funds Management, Inc. during the quarter, and 99,635 were bought by First Light Asset Management LLC. In its current portfolio, Palo Alto Investors LP holds 1,681,477 shares valued at $101.95 million.

In terms of Prothena Corporation plc share price expectations, FactSet research, analysts set an average price target of $77.22 in the next 12 months, up nearly 18.2% from the previous closing price of $63.45. Analysts anticipate Prothena Corporation plc stock to reach $110.00 by 2022, with the lowest price target being $52.00. On May 26, 2021, Citigroup assigned a price target of “a Buy” to the stock and initiated coverage with a $39.


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