Protagonist Therapeutics, Inc. $PTGX Stock: State of Wyoming Cuts Position

State of Wyoming lowered its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 91.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,202 shares of the company’s stock after selling 13,172 shares during the period. State of Wyoming’s holdings in Protagonist Therapeutics were worth $169,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PTGX. Choreo LLC boosted its holdings in Protagonist Therapeutics by 9.3% in the third quarter. Choreo LLC now owns 2,533 shares of the company’s stock worth $357,000 after acquiring an additional 216 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Protagonist Therapeutics by 2.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,807 shares of the company’s stock valued at $1,664,000 after acquiring an additional 322 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Protagonist Therapeutics by 28.3% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 4,015 shares of the company’s stock valued at $566,000 after acquiring an additional 886 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Protagonist Therapeutics by 840.3% during the third quarter. Sterling Capital Management LLC now owns 2,031 shares of the company’s stock valued at $286,000 after acquiring an additional 1,815 shares in the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of Protagonist Therapeutics by 5.6% in the 3rd quarter. Yousif Capital Management LLC now owns 17,407 shares of the company’s stock worth $2,452,000 after purchasing an additional 924 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $132.04 on Monday. The stock’s 50 day simple moving average is $141.52 and its 200 day simple moving average is $117.83. Protagonist Therapeutics, Inc. has a 12-month low of $76.70 and a 12-month high of $160.81. The stock has a market capitalization of $8.54 billion, a PE ratio of 27.97 and a beta of 1.21.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Thursday, November 5th. The company reported $3.07 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.57. Protagonist Therapeutics had a return on equity of 48.62% and a net margin of 62.04%. The business had revenue of $274.41 million during the quarter, compared to analyst estimates of $238.49 million. On average, research analysts predict that Protagonist Therapeutics, Inc. will post 4.59 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on PTGX. Wall Street Zen upgraded shares of Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings raised shares of Protagonist Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. The Goldman Sachs Group upgraded shares of Protagonist Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $110.00 to $186.00 in a research note on Monday, August 10th. UBS Group reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a report on Tuesday, November 3rd. Finally, HC Wainwright lifted their target price on shares of Protagonist Therapeutics from $170.00 to $221.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $166.67.

Insiders Place Their Bets

In related news, CEO Dinesh V. Ph D. Patel sold 63,548 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $146.18, for a total value of $9,289,446.64. Following the completion of the sale, the chief executive officer directly owned 522,968 shares in the company, valued at approximately $76,447,462.24. This trade represents a 10.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Asif Ali sold 58,629 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $141.78, for a total value of $8,312,419.62. Following the completion of the sale, the chief financial officer owned 59,003 shares of the company’s stock, valued at $8,365,445.34. The trade was a 49.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 217,868 shares of company stock worth $31,638,164. Corporate insiders own 5.19% of the company’s stock.

Protagonist Therapeutics Profile

Protagonist Therapeutics is a clinical-stage biopharmaceutical company that discovers and develops peptide-based medicines, primarily for inflammatory and blood disorders. Its research approach uses engineered peptides designed to act on specific biological targets.

The company’s programs include rusfertide, a hepcidin mimetic being developed for polycythemia vera, and icotrokinra, an oral interleukin-23 receptor antagonist being developed for immune-mediated diseases. Protagonist has entered into licensing and development collaborations for these programs with Takeda and Johnson & Johnson, respectively; they are investigational medicines, not approved treatments.

Founded in 2006 and based in Newark, California, Protagonist is led by co-founder and Chief Executive Officer Dinesh V.