Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lowered its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,076 shares of the company’s stock after selling 667 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Protagonist Therapeutics were worth $1,045,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PTGX. Wellington Management Group LLP increased its stake in Protagonist Therapeutics by 3,025.4% during the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock worth $36,287,000 after purchasing an additional 909,998 shares during the period. American Century Companies Inc. increased its stake in Protagonist Therapeutics by 61.5% during the fourth quarter. American Century Companies Inc. now owns 928,286 shares of the company’s stock worth $35,832,000 after purchasing an additional 353,511 shares during the period. Principal Financial Group Inc. increased its stake in Protagonist Therapeutics by 3,099.4% during the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock worth $14,437,000 after purchasing an additional 310,804 shares during the period. Raymond James Financial Inc. purchased a new stake in Protagonist Therapeutics during the fourth quarter worth about $11,708,000. Finally, Pictet Asset Management Holding SA increased its stake in Protagonist Therapeutics by 3,962.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 296,511 shares of the company’s stock worth $11,445,000 after purchasing an additional 289,213 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

Insider Activity at Protagonist Therapeutics

In other news, Director William D. Waddill sold 4,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $54.25, for a total value of $217,000.00. Following the completion of the sale, the director now directly owns 13,130 shares of the company’s stock, valued at approximately $712,302.50. This represents a 23.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Arturo Md Molina sold 30,514 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the completion of the sale, the insider now directly owns 83,892 shares of the company’s stock, valued at $4,676,140.08. The trade was a 26.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,532 shares of company stock valued at $3,665,786 over the last ninety days. Insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Price Performance

Shares of PTGX opened at $44.99 on Friday. Protagonist Therapeutics, Inc. has a 1-year low of $25.23 and a 1-year high of $60.60. The stock has a market cap of $2.76 billion, a PE ratio of 16.91 and a beta of 2.30. The firm has a fifty day moving average price of $46.16 and a 200 day moving average price of $42.86.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The firm had revenue of $170.64 million during the quarter, compared to analysts’ expectations of $56.65 million. As a group, equities analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PTGX shares. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Protagonist Therapeutics in a research note on Thursday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Truist Financial increased their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. JMP Securities reiterated a “market outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Finally, The Goldman Sachs Group lowered their target price on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $65.44.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.