10% Owner William Scully Buys $1.19 Million of Prothena Stock

William P. Scully, a 10% owner of Prothena Corp Public Ltd Co (Nasdaq: PRTA), bought about $1.19 million of the company's stock on Monday, Nov. 9, a Form 4 filing with the Securities and Exchange Commission showed Tuesday.

The filing shows Scully bought 140,000 shares at $8.5297 per share, a total of $1.19 million. The purchase was made directly, not under a pre-arranged trading plan, and left him with 977,000 shares after the trade.

Other insider activity

The filings show Scully bought 1,017,500 shares worth about $8.65 million in total from Aug. 12 through the day before this filing, not counting this purchase.

Price and company figures

Prothena's stock closed at $8.78 on Monday, Nov. 9, after rising 4.2% over the prior 20 sessions. On Tuesday, Nov. 10, the stock fell 2.5% to close at $8.56, while the S&P 500 ETF fell 0.4% that session.

For scale, the company reported revenue of $0.6 million for the quarter ended Sept. 30, down 74% from a year earlier, with a net loss of $16.5 million. It held $271.4 million in cash and equivalents as of that date. Its market capitalization before the filing was about $450.9 million.

The company filed a quarterly report on Form 10-Q and an 8-K with its results in the days before this filing. An 8-K filed 12 days earlier reported the termination of a material definitive agreement.