Prothena Stock Soars 10.47% on Insider Buying, Pipeline Progress

On May 5, 2025, Prothena's stock surged by 10.47% in pre-market trading, marking a significant rise that has caught the attention of investors and analysts alike.

One of the key factors contributing to this surge is the recent insider buying activity. William P. Scully, a major shareholder of Prothena, acquired 2,000 shares of the company's stock on December 20th. This purchase, along with other insider transactions, has bolstered investor confidence in the company's prospects.

Prothena's pipeline of novel therapies for diseases caused by protein dysregulation has also been a focal point for analysts. The company's lead candidate, birtamimab, is in Phase III clinical trials for the treatment of AL amyloidosis. Additionally, prasinezumab, a humanized monoclonal antibody, is in Phase IIb clinical trials for Parkinson's disease and other related synucleinopathies. These developments have garnered positive attention from the investment community.

Analysts have also weighed in on Prothena's future prospects. Piper Sandler boosted their target price on Prothena from $94.00 to $110.00 and gave the company an "overweight" rating. Cantor Fitzgerald and Chardan Capital have also maintained positive ratings on the stock, with Chardan Capital setting a price target of $40.00. These ratings reflect the optimism surrounding Prothena's clinical pipeline and potential market opportunities.

Institutional investors have also shown interest in Prothena. Virtus ETF Advisers LLC, China Universal Asset Management Co. Ltd., and Rhumbline Advisers have all increased their holdings in the company, indicating a growing institutional support for Prothena's long-term growth prospects.