Raymond James Financial Inc. Makes New $11.71 Million Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Raymond James Financial Inc. purchased a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 303,313 shares of the company's stock, valued at approximately $11,708,000. Raymond James Financial Inc. owned about 0.51% of Protagonist Therapeutics as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of Protagonist Therapeutics by 84.1% during the 4th quarter. Victory Capital Management Inc. now owns 240,817 shares of the company's stock worth $9,296,000 after acquiring an additional 110,020 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Protagonist Therapeutics by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 578,409 shares of the company's stock worth $22,327,000 after purchasing an additional 12,906 shares during the period. Cavalier Investments LLC lifted its position in Protagonist Therapeutics by 4.3% during the fourth quarter. Cavalier Investments LLC now owns 31,252 shares of the company's stock valued at $1,206,000 after purchasing an additional 1,296 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in Protagonist Therapeutics by 15.1% during the fourth quarter. Illinois Municipal Retirement Fund now owns 33,509 shares of the company's stock valued at $1,293,000 after purchasing an additional 4,385 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in Protagonist Therapeutics by 39.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 31,366 shares of the company's stock worth $1,211,000 after buying an additional 8,920 shares in the last quarter. Institutional investors own 98.63% of the company's stock.

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Insider Buying and Selling at Protagonist Therapeutics

In related news, Director William D. Waddill sold 4,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $54.25, for a total transaction of $217,000.00. Following the completion of the sale, the director now owns 13,130 shares of the company's stock, valued at $712,302.50. This represents a 23.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics stock in a transaction 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 transaction, the chief executive officer now directly owns 540,260 shares in the company, valued at $20,627,126.80. This represents a 0.98 % decrease in their ownership of the stock. 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.

Analyst Ratings Changes

PTGX has been the subject of a number of recent research reports. JMP Securities reiterated a "market outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Truist Financial upped their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. BMO Capital Markets raised their price objective on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. JPMorgan Chase & Co. upped their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Finally, StockNews.com lowered Protagonist Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, December 10th. 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 company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $62.56.

Protagonist Therapeutics Stock Down 0.2 %

PTGX stock traded down $0.12 during trading on Monday, hitting $52.53. 1,521,943 shares of the company's stock traded hands, compared to its average volume of 758,477. The business has a fifty day simple moving average of $41.21 and a two-hundred day simple moving average of $42.63. The firm has a market capitalization of $3.22 billion, a P/E ratio of 19.75 and a beta of 2.34. Protagonist Therapeutics, Inc. has a 1 year low of $24.22 and a 1 year high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, topping the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The firm had revenue of $170.64 million during the quarter, compared to analyst estimates of $56.65 million. On average, equities research analysts predict 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.