Legal & General Group Plc Has $13.03 Million Stake in Protagonist Therapeutics, Inc. $PTGX

Legal & General Group Plc reduced its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 4.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 149,164 shares of the company’s stock after selling 6,665 shares during the quarter. Legal & General Group Plc’s holdings in Protagonist Therapeutics were worth $13,028,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in shares of Protagonist Therapeutics by 30.6% in the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock valued at $482,000 after acquiring an additional 2,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Protagonist Therapeutics by 0.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after purchasing an additional 348 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Protagonist Therapeutics by 283.6% in the first quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock worth $6,493,000 after buying an additional 99,269 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Protagonist Therapeutics in the second quarter worth $987,000. Finally, Guggenheim Capital LLC boosted its holdings in shares of Protagonist Therapeutics by 1.6% during the 2nd quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after buying an additional 303 shares during the period. Institutional investors own 98.63% of the company’s stock.

Analyst Upgrades and Downgrades

PTGX has been the topic of several research analyst reports. Barclays raised their price target on Protagonist Therapeutics from $113.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Truist Financial upped their price objective on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. TD Cowen raised their target price on Protagonist Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. JPMorgan Chase & Co. boosted their price objective on shares of Protagonist Therapeutics from $95.00 to $106.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Finally, Wall Street Zen raised shares of Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.21.

Insider Activity

In other news, insider Arturo Md Molina sold 15,000 shares of the business’s stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $104.79, for a total value of $1,571,850.00. Following the sale, the insider owned 84,115 shares of the company’s stock, valued at $8,814,410.85. The trade was a 15.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the transaction, the chief executive officer owned 523,478 shares of the company’s stock, valued at $52,410,617.36. The trade was a 12.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 263,345 shares of company stock worth $26,707,266. 5.19% of the stock is currently owned by insiders.

Protagonist Therapeutics Price Performance

PTGX opened at $93.19 on Wednesday. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of -51.49 and a beta of 1.85. The business’s 50-day moving average price is $101.60 and its two-hundred day moving average price is $92.18. Protagonist Therapeutics, Inc. has a 1 year low of $49.38 and a 1 year high of $107.84.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The company had revenue of $56.37 million during the quarter, compared to analysts’ expectations of $11.70 million. Sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 3.29 earnings per share for the current fiscal year.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.