Handelsbanken Fonder AB Invests $679,000 in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Handelsbanken Fonder AB bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,600 shares of the company's stock, valued at approximately $679,000.

Several other institutional investors and hedge funds have also made changes to their positions in PTGX. Nisa Investment Advisors LLC increased its stake in shares of Protagonist Therapeutics by 10.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company's stock worth $121,000 after buying an additional 295 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Protagonist Therapeutics by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company's stock worth $1,112,000 after acquiring an additional 300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Protagonist Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company's stock worth $95,000 after purchasing an additional 379 shares during the last quarter. KBC Group NV raised its stake in shares of Protagonist Therapeutics by 54.4% in the 4th quarter. KBC Group NV now owns 2,093 shares of the company's stock valued at $81,000 after purchasing an additional 737 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Protagonist Therapeutics during the fourth quarter worth about $38,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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Protagonist Therapeutics Price Performance

Shares of PTGX stock traded down $0.21 during trading hours on Wednesday, reaching $38.45. The stock had a trading volume of 1,509,646 shares, compared to its average volume of 698,969. The firm has a market capitalization of $2.36 billion, a PE ratio of 14.45 and a beta of 2.34. The firm has a 50-day simple moving average of $37.87 and a 200-day simple moving average of $41.76. Protagonist Therapeutics, Inc. has a twelve month low of $24.22 and a twelve month high of $48.89.

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

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the transaction, the chief executive officer now owns 540,260 shares of the company's stock, valued at approximately $20,627,126.80. This trade represents a 0.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. HC Wainwright reissued a "buy" rating and issued a $54.00 price objective on shares of Protagonist Therapeutics in a report on Monday. The Goldman Sachs Group lowered their price target on Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Monday, February 24th. Wedbush restated an "outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 21st. BMO Capital Markets started coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They issued an "outperform" rating and a $62.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday. Two investment 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 MarketBeat.com, Protagonist Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $55.89.

Protagonist Therapeutics Company 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.