Great Lakes Advisors LLC Decreases Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Great Lakes Advisors LLC reduced its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,947 shares of the company's stock after selling 7,678 shares during the period. Great Lakes Advisors LLC owned 0.10% of Protagonist Therapeutics worth $2,391,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PTGX. Janney Montgomery Scott LLC acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $866,000. Amalgamated Bank raised its position in Protagonist Therapeutics by 756.4% in the third quarter. Amalgamated Bank now owns 17,324 shares of the company's stock valued at $780,000 after purchasing an additional 15,301 shares during the period. Entropy Technologies LP acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at $312,000. Victory Capital Management Inc. lifted its stake in shares of Protagonist Therapeutics by 1,729.3% in the 3rd quarter. Victory Capital Management Inc. now owns 130,797 shares of the company's stock valued at $5,886,000 after purchasing an additional 123,647 shares during the last quarter. Finally, Mutual of America Capital Management LLC purchased a new position in shares of Protagonist Therapeutics during the 3rd quarter worth $399,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PTGX has been the subject of a number of recent analyst reports. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research report on Monday, March 3rd. Truist Financial raised their price objective 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 reissued a "market outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Finally, StockNews.com downgraded Protagonist Therapeutics from a "buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.56.

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Insider Activity

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of the sale, the chief executive officer now owns 540,260 shares in the company, valued at $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Arturo Md Molina sold 30,514 shares of the business'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 sale, the insider now owns 83,892 shares of the company's stock, valued at approximately $4,676,140.08. The trade was a 26.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,776 shares of company stock worth $3,585,010. 5.40% of the stock is currently owned by company insiders.

Protagonist Therapeutics Stock Performance

Shares of PTGX traded down $0.17 during midday trading on Wednesday, hitting $54.35. The company had a trading volume of 1,048,594 shares, compared to its average volume of 740,092. The company's 50-day simple moving average is $40.25 and its 200-day simple moving average is $42.39. The firm has a market capitalization of $3.34 billion, a P/E ratio of 20.43 and a beta of 2.34. Protagonist Therapeutics, Inc. has a 1 year low of $24.22 and a 1 year high of $60.60.

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

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.