Massachusetts Financial Services Co. MA Takes $1.25 Million Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Massachusetts Financial Services Co. MA bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,449 shares of the company's stock, valued at approximately $1,253,000. Massachusetts Financial Services Co. MA owned approximately 0.05% of Protagonist Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Franklin Resources Inc. lifted its stake in shares of Protagonist Therapeutics by 127.2% during the third quarter. Franklin Resources Inc. now owns 81,591 shares of the company's stock worth $3,782,000 after purchasing an additional 45,674 shares in the last quarter. Principal Financial Group Inc. lifted its position in Protagonist Therapeutics by 3,099.4% during the 3rd quarter. Principal Financial Group Inc. now owns 320,832 shares of the company's stock worth $14,437,000 after acquiring an additional 310,804 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Protagonist Therapeutics by 36.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 216,069 shares of the company's stock worth $8,340,000 after acquiring an additional 58,002 shares during the period. Assenagon Asset Management S.A. purchased a new position in Protagonist Therapeutics in the 4th quarter worth approximately $2,016,000. Finally, Charles Schwab Investment Management Inc. grew its position in Protagonist Therapeutics by 2.3% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 98.63% of the company's stock.

Remove Ads

Protagonist Therapeutics Trading Up 1.1 %

Protagonist Therapeutics stock traded up $0.47 during mid-day trading on Monday, reaching $43.09. The company's stock had a trading volume of 51,016 shares, compared to its average volume of 1,038,843. Protagonist Therapeutics, Inc. has a twelve month low of $24.22 and a twelve month high of $60.60. The business has a 50 day moving average price of $44.06 and a 200-day moving average price of $42.74. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 16.20 and a beta of 2.30.

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 for the quarter, beating analysts' consensus estimates of ($0.09) by $2.07. The business 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 analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PTGX shares. BMO Capital Markets upped their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. JMP Securities reissued a "market outperform" rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, February 7th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 target price on shares of Protagonist Therapeutics in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Finally, Truist Financial raised their price objective on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. 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 stock. According to data from MarketBeat, Protagonist Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $65.44.

Insider Activity

In other news, CFO Asif Ali sold 24,903 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $58.73, for a total transaction of $1,462,553.19. Following the completion of the transaction, the chief financial officer now owns 62,821 shares in the company, valued at approximately $3,689,477.33. This represents a 28.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction dated 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 directly owns 540,260 shares in the company, valued at approximately $20,627,126.80. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,776 shares of company stock valued at $3,585,010. 5.40% of the stock is currently owned by insiders.

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.