US Bancorp DE Sells 5,736 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

US Bancorp DE trimmed its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 72.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,130 shares of the company's stock after selling 5,736 shares during the quarter. US Bancorp DE's holdings in Protagonist Therapeutics were worth $82,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PTGX. FNY Investment Advisers LLC bought a new stake in Protagonist Therapeutics in the 4th quarter valued at $38,000. Harvest Fund Management Co. Ltd bought a new position in Protagonist Therapeutics during the third quarter worth about $69,000. KBC Group NV boosted its holdings in Protagonist Therapeutics by 54.4% during the fourth quarter. KBC Group NV now owns 2,093 shares of the company's stock valued at $81,000 after purchasing an additional 737 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Protagonist Therapeutics by 10.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company's stock valued at $121,000 after purchasing an additional 295 shares during the period. Finally, Caprock Group LLC acquired a new position in shares of Protagonist Therapeutics in the 4th quarter worth approximately $224,000. Institutional investors and hedge funds own 98.63% of the company's stock.

Insiders Place Their Bets

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction that occurred on 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 approximately $20,627,126.80. This represents a 0.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William D. Waddill sold 4,000 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $712,302.50. This trade represents a 23.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,776 shares of company stock worth $3,585,010. Company insiders own 5.40% of the company's stock.

Remove Ads

Protagonist Therapeutics Stock Performance

PTGX traded down $0.49 during midday trading on Friday, reaching $52.56. 1,190,673 shares of the company were exchanged, compared to its average volume of 753,751. The stock has a market capitalization of $3.23 billion, a P/E ratio of 19.76 and a beta of 2.34. Protagonist Therapeutics, Inc. has a one year low of $24.22 and a one year high of $60.60. The stock's 50-day simple moving average is $40.89 and its 200 day simple moving average is $42.55.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings results 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 for 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, research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Analyst Ratings Changes

PTGX has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Truist Financial upped their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Wedbush reiterated an "outperform" rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, March 11th. JMP Securities restated a "market outperform" rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Finally, StockNews.com downgraded Protagonist Therapeutics from a "buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Two investment 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 company. According to MarketBeat.com, Protagonist Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $62.56.

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.