Legal & General Group Plc cut its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Free Report) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,164 shares of the company’s stock after selling 6,665 shares during the period. Legal & General Group Plc owned approximately 0.24% of Protagonist Therapeutics worth $13,028,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in PTGX. Farallon Capital Management LLC lifted its position in Protagonist Therapeutics by 0.4% in the third quarter. Farallon Capital Management LLC now owns 6,196,006 shares of the company’s stock worth $411,601,000 after purchasing an additional 24,000 shares during the period. Vanguard Group Inc. increased its position in shares of Protagonist Therapeutics by 27.2% during the 4th quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company’s stock valued at $472,832,000 after purchasing an additional 1,156,461 shares during the period. State Street Corp raised its stake in shares of Protagonist Therapeutics by 18.5% in the 2nd quarter. State Street Corp now owns 3,207,543 shares of the company’s stock worth $177,281,000 after buying an additional 500,924 shares in the last quarter. UBS Group AG raised its stake in shares of Protagonist Therapeutics by 46.1% in the 4th quarter. UBS Group AG now owns 2,770,021 shares of the company’s stock worth $241,934,000 after buying an additional 874,013 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Protagonist Therapeutics by 83.9% in the third quarter. Wellington Management Group LLP now owns 1,908,446 shares of the company’s stock valued at $126,778,000 after buying an additional 870,708 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Citizens Jmp lifted their target price on Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. Leerink Partners raised their target price on shares of Protagonist Therapeutics from $107.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, March 19th. Citigroup reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research report on Wednesday, May 6th. Wedbush lifted their price target on Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, Truist Financial boosted their price objective on Protagonist Therapeutics from $110.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. 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 assigned a Sell rating to the company. Based on data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.21.
Protagonist Therapeutics Trading Down 1.8%
Shares of NASDAQ:PTGX opened at $93.19 on Wednesday. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of -51.49 and a beta of 1.85. Protagonist Therapeutics, Inc. has a 1 year low of $49.38 and a 1 year high of $107.84. The business has a fifty day simple moving average of $101.60 and a 200 day simple moving average of $92.18.
Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $56.37 million for the quarter, compared to the consensus estimate of $11.70 million. On average, sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 3.29 EPS for the current year.
Insider Buying and Selling at Protagonist Therapeutics
In related news, Director Harold E. Selick sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $105.00, for a total value of $2,520,000.00. Following the completion of the sale, the director owned 60,845 shares of the company’s stock, valued at approximately $6,388,725. The trade was a 28.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total value of $7,509,000.00. Following the completion of the sale, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at approximately $52,410,617.36. The trade was a 12.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 263,345 shares of company stock worth $26,707,266 over the last quarter. Insiders own 5.19% of the company’s stock.
Protagonist Therapeutics Company Profile
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.
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