Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 36.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 216,069 shares of the company's stock after buying an additional 58,002 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.36% of Protagonist Therapeutics worth $8,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in shares of Protagonist Therapeutics by 127.2% in the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company's stock worth $3,782,000 after acquiring an additional 45,674 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Protagonist Therapeutics by 3,099.4% in the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company's stock valued at $14,437,000 after purchasing an additional 310,804 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Protagonist Therapeutics during the fourth quarter worth about $2,016,000. Charles Schwab Investment Management Inc. raised its stake in Protagonist Therapeutics by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 578,409 shares of the company's stock worth $22,327,000 after purchasing an additional 12,906 shares during the period. Finally, Barclays PLC raised its stake in Protagonist Therapeutics by 223.6% during the third quarter. Barclays PLC now owns 126,995 shares of the company's stock worth $5,714,000 after purchasing an additional 87,755 shares during the period. Institutional investors and hedge funds own 98.63% of the company's stock.

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Protagonist Therapeutics Trading Up 4.2 %

Protagonist Therapeutics stock traded up $1.73 during midday trading on Friday, reaching $42.62. 1,157,727 shares of the stock traded hands, compared to its average volume of 830,537. The firm has a market cap of $2.62 billion, a PE ratio of 16.02 and a beta of 2.30. The company has a 50-day simple moving average of $44.06 and a two-hundred day simple moving average of $42.75. Protagonist Therapeutics, Inc. has a 12-month low of $24.22 and a 12-month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings data on Friday, February 21st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The business had revenue of $170.64 million during the quarter, compared to analyst estimates of $56.65 million. Equities research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PTGX. The Goldman Sachs Group cut their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Monday, February 24th. BTIG Research set a $73.00 target price on Protagonist Therapeutics in a research note on Monday, March 3rd. HC Wainwright restated a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research report on Thursday. JPMorgan Chase & Co. increased their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Finally, BMO Capital Markets raised their price objective on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $65.44.

Insiders Place Their Bets

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the sale, the chief executive officer now owns 540,260 shares of the company's stock, valued at $20,627,126.80. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Waddill sold 4,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.25, for a total transaction of $217,000.00. Following the completion of the transaction, the director now owns 13,130 shares of the company's stock, valued at $712,302.50. This represents a 23.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,776 shares of company stock worth $3,585,010 over the last 90 days. Corporate insiders own 5.40% of the company's stock.

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.