Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Bought by Man Group plc

Man Group plc lifted its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 182.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 157,963 shares of the company’s stock after buying an additional 102,132 shares during the quarter. Man Group plc’s holdings in Protagonist Therapeutics were worth $6,097,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Covestor Ltd increased its holdings in shares of Protagonist Therapeutics by 5,200.0% in the 4th quarter. Covestor Ltd now owns 1,643 shares of the company’s stock worth $63,000 after acquiring an additional 1,612 shares during the period. KBC Group NV boosted its holdings in shares of Protagonist Therapeutics by 54.4% in the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after buying an additional 737 shares during the period. New Vernon Capital Holdings II LLC purchased a new stake in shares of Protagonist Therapeutics in the fourth quarter worth approximately $118,000. Nisa Investment Advisors LLC raised its position in Protagonist Therapeutics by 10.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock valued at $121,000 after acquiring an additional 295 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in Protagonist Therapeutics during the fourth quarter valued at approximately $211,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $46.61 on Wednesday. The stock’s 50 day simple moving average is $46.36 and its two-hundred day simple moving average is $42.59. Protagonist Therapeutics, Inc. has a 1 year low of $27.00 and a 1 year high of $60.60. The company has a market cap of $2.89 billion, a PE ratio of 17.52 and a beta of 2.65.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.31. The business had revenue of $28.32 million for the quarter, compared to analysts’ expectations of $30.44 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. Equities research analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.25, for a total transaction of $217,000.00. Following the transaction, the director now owns 13,130 shares of the company’s stock, valued at approximately $712,302.50. This trade represents a 23.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Asif Ali sold 24,903 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total transaction of $1,462,553.19. Following the sale, the chief financial officer now owns 62,821 shares of the company’s stock, valued at $3,689,477.33. This trade represents a 28.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,173 shares of company stock worth $3,461,180 in the last 90 days. Corporate insiders own 4.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PTGX. Wedbush reiterated an “outperform” rating and set a $70.00 price target on shares of Protagonist Therapeutics in a research note on Friday, March 28th. BMO Capital Markets boosted their price objective on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. The Goldman Sachs Group cut their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. JMP Securities restated a “market outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their target price on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $65.44.

Protagonist Therapeutics 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.