Invesco Ltd. Boosts Stock Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Invesco Ltd. grew its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 13.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 738,952 shares of the company's stock after buying an additional 85,800 shares during the period. Invesco Ltd. owned 1.24% of Protagonist Therapeutics worth $28,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. FNY Investment Advisers LLC purchased a new stake in Protagonist Therapeutics during the fourth quarter worth approximately $38,000. KBC Group NV boosted its position 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 during the period. Nisa Investment Advisors LLC grew its stake in Protagonist Therapeutics by 10.4% during the 4th 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. Cibc World Markets Corp acquired a new position in Protagonist Therapeutics during the fourth quarter worth approximately $211,000. Finally, Caprock Group LLC purchased a new stake in Protagonist Therapeutics in the fourth quarter valued at approximately $224,000. 98.63% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director William D. Waddill sold 4,000 shares of the stock in a transaction 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 sale, the director now owns 13,130 shares of the company's stock, valued at $712,302.50. This trade represents a 23.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, February 19th. The stock was 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 approximately $20,627,126.80. This represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,776 shares of company stock valued at $3,585,010. Corporate insiders own 5.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PTGX shares. Truist Financial lifted their target price on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a report on Monday, March 3rd. The Goldman Sachs Group reduced their target price 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 reaffirmed an "outperform" rating and set a $70.00 price target on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Two equities 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's stock. Based on data from MarketBeat, Protagonist Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.44.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX traded up $1.19 during mid-day trading on Wednesday, hitting $47.04. 151,206 shares of the company's stock traded hands, compared to its average volume of 846,419. The company has a market cap of $2.89 billion, a PE ratio of 17.68 and a beta of 2.30. The firm's 50 day simple moving average is $45.17 and its 200 day simple moving average is $42.82. 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 issued its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $56.65 million. On average, research analysts expect 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.