Allspring Global Investments Holdings LLC Buys 103,414 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Allspring Global Investments Holdings LLC grew its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 24,162.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 103,842 shares of the company's stock after purchasing an additional 103,414 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.18% of Protagonist Therapeutics worth $4,673,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Protagonist Therapeutics by 749.2% in the 3rd 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. acquired a new stake in shares of Protagonist Therapeutics in the 1st quarter valued at approximately $35,000. Exchange Traded Concepts LLC acquired a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at approximately $43,000. CWM LLC raised its position in shares of Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company's stock valued at $57,000 after acquiring an additional 1,147 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Protagonist Therapeutics in the 1st quarter valued at approximately $69,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Price Performance

Shares of PTGX traded up $0.23 during mid-day trading on Tuesday, hitting $48.43. 312,800 shares of the company's stock were exchanged, compared to its average volume of 741,789. The company has a market cap of $2.84 billion, a PE ratio of 19.75 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 52 week low of $13.76 and a 52 week high of $48.89. The company has a 50-day simple moving average of $44.64 and a 200 day simple moving average of $36.86.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). The business had revenue of $4.17 million for the quarter, compared to the consensus estimate of $40.00 million. On average, analysts anticipate that Protagonist Therapeutics, Inc. will post 2.32 earnings per share for the current year.

Insider Activity at Protagonist Therapeutics

In related news, Director William D. Waddill sold 8,000 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company's stock, valued at approximately $540,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Asif Ali sold 14,203 shares of the firm's stock in a transaction on 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 directly owns 34,960 shares of the company's stock, valued at approximately $1,555,370.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Waddill sold 8,000 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company's stock, valued at $540,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on PTGX. BTIG Research raised their target price on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. TD Cowen upgraded shares of Protagonist Therapeutics to a "strong-buy" rating in a report on Wednesday, September 25th. Truist Financial began coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They set a "buy" rating and a $60.00 target price on the stock. JMP Securities dropped their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating on the stock in a report on Wednesday, August 7th. Finally, HC Wainwright raised their target price on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, September 12th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Protagonist Therapeutics currently has an average rating of "Buy" and an average target price of $49.86.

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.