Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock Holdings Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 390,788 shares of the company's stock after buying an additional 34,455 shares during the quarter. Bank of New York Mellon Corp owned 0.66% of Protagonist Therapeutics worth $15,084,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. FNY Investment Advisers LLC purchased a new stake in Protagonist Therapeutics during the 4th quarter worth about $38,000. Harvest Fund Management Co. Ltd purchased a new stake in Protagonist Therapeutics during the 3rd quarter worth about $69,000. KBC Group NV increased its position in Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company's stock worth $81,000 after purchasing an additional 737 shares in the last quarter. Nisa Investment Advisors LLC increased its position 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 purchasing an additional 295 shares in the last quarter. Finally, Caprock Group LLC purchased a new stake in Protagonist Therapeutics during the 4th quarter worth about $224,000. Hedge funds and other institutional investors own 98.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PTGX shares. JPMorgan Chase & Co. lifted their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. The Goldman Sachs Group decreased their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Monday, February 24th. BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a report on Monday, March 3rd. BMO Capital Markets lifted their price target on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. Finally, Truist Financial lifted their price target 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. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Protagonist Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.22.

Remove Ads

Insider Buying and Selling

In other news, CFO Asif Ali sold 24,903 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $58.73, for a total value of $1,462,553.19. Following the completion of the sale, the chief financial officer now owns 62,821 shares of the company's stock, valued at approximately $3,689,477.33. The trade was a 28.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business's 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 of the company's stock, valued at $20,627,126.80. The trade was a 0.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,776 shares of company stock valued at $3,368,010 in the last quarter. Company insiders own 5.40% of the company's stock.

Protagonist Therapeutics Stock Down 0.2 %

Shares of PTGX stock traded down $0.12 during mid-day trading on Friday, reaching $54.78. The company's stock had a trading volume of 1,271,530 shares, compared to its average volume of 737,345. The company's 50 day simple moving average is $39.63 and its 200-day simple moving average is $42.24. Protagonist Therapeutics, Inc. has a 12-month low of $24.22 and a 12-month high of $60.60. The firm has a market capitalization of $3.36 billion, a PE ratio of 20.59 and a beta of 2.34.

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

About Protagonist Therapeutics

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.