KLP Kapitalforvaltning AS Buys Shares of 8,700 Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

KLP Kapitalforvaltning AS purchased a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,700 shares of the company's stock, valued at approximately $336,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PTGX. State Street Corp grew its stake in shares of Protagonist Therapeutics by 52.9% in the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company's stock worth $143,259,000 after purchasing an additional 1,101,218 shares during the last quarter. Pacer Advisors Inc. grew its position in Protagonist Therapeutics by 8.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company's stock worth $72,432,000 after buying an additional 142,376 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Protagonist Therapeutics by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,374,697 shares of the company's stock valued at $61,873,000 after buying an additional 3,528 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Protagonist Therapeutics by 61.5% during the 4th quarter. American Century Companies Inc. now owns 928,286 shares of the company's stock valued at $35,832,000 after acquiring an additional 353,511 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Protagonist Therapeutics by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 578,409 shares of the company's stock valued at $22,327,000 after acquiring an additional 12,906 shares during the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, insider Arturo Md Molina sold 30,514 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $55.74, for a total value of $1,700,850.36. Following the transaction, the insider now directly owns 83,892 shares of the company's stock, valued at approximately $4,676,140.08. This trade represents a 26.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William D. Waddill sold 4,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.25, for a total value of $217,000.00. Following the sale, the director now directly owns 13,130 shares of the company's stock, valued at $712,302.50. The trade was a 23.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,776 shares of company stock worth $3,585,010. Corporate insiders own 5.40% of the company's stock.

Protagonist Therapeutics Stock Performance

Shares of Protagonist Therapeutics stock traded down $1.68 during trading on Thursday, hitting $40.89. 1,638,937 shares of the stock traded hands, compared to its average volume of 828,087. The stock has a market cap of $2.51 billion, a P/E ratio of 15.37 and a beta of 2.30. The company has a fifty day moving average price of $43.96 and a two-hundred day moving average price of $42.78. Protagonist Therapeutics, Inc. has a twelve month low of $24.22 and a twelve month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, topping the consensus estimate of ($0.09) by $2.07. The company had revenue of $170.64 million during the quarter, compared to the consensus estimate of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. On average, equities research analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PTGX has been the topic of a number of recent analyst reports. Truist Financial boosted their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. JMP Securities restated a "market outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 7th. BMO Capital Markets raised their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a report on Tuesday, March 11th. The Goldman Sachs Group dropped their target price on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Finally, BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Protagonist Therapeutics has a consensus rating of "Moderate Buy" and a consensus 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.