Swedbank AB Purchases New Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Swedbank AB acquired a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 50,000 shares of the company's stock, valued at approximately $2,250,000. Swedbank AB owned 0.09% of Protagonist Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. GAMMA Investing LLC increased its stake in Protagonist Therapeutics by 749.2% during the third quarter. GAMMA Investing LLC now owns 552 shares of the company's stock valued at $25,000 after acquiring an additional 487 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Protagonist Therapeutics during the first quarter valued at approximately $35,000. Exchange Traded Concepts LLC acquired a new position in shares of Protagonist Therapeutics in the third quarter valued at $43,000. CWM LLC lifted its position in Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company's stock worth $57,000 after purchasing an additional 1,147 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in Protagonist Therapeutics during the first quarter worth $69,000. Institutional investors and hedge funds own 98.63% of the company's stock.

Protagonist Therapeutics Stock Down 0.1 %

PTGX stock traded down $0.05 during midday trading on Friday, reaching $46.97. 588,702 shares of the company's stock traded hands, compared to its average volume of 755,524. The company has a 50-day simple moving average of $43.91 and a two-hundred day simple moving average of $36.01. Protagonist Therapeutics, Inc. has a 1-year low of $13.72 and a 1-year high of $48.32. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 17.93 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.50). The business had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. Equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.32 EPS for the current year.

Wall Street Analyst Weigh In

PTGX has been the subject of a number of analyst reports. StockNews.com raised shares of Protagonist Therapeutics from a "hold" rating to a "buy" rating in a report on Thursday, August 8th. HC Wainwright lifted their price objective on Protagonist Therapeutics from $40.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, September 12th. JMP Securities dropped their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating for the company in a report on Wednesday, August 7th. Truist Financial assumed coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They set a "buy" rating and a $60.00 target price for the company. Finally, BTIG Research increased their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Protagonist Therapeutics has an average rating of "Buy" and an average price target of $49.86.

Insiders Place Their Bets

In other news, Director William D. Waddill sold 8,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total transaction of $320,000.00. Following the sale, the director now directly owns 12,000 shares of the company's stock, valued at $480,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director William D. Waddill sold 8,000 shares of the business's stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now owns 12,000 shares in the company, valued at $480,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Asif Ali sold 14,203 shares of the firm's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the transaction, the chief financial officer now owns 34,960 shares in the company, valued at approximately $1,555,370.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,203 shares of company stock valued at $1,311,891. Insiders own 5.40% of the company's stock.

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.