Summit Global Investments Buys Shares of 23,557 Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Summit Global Investments acquired a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,557 shares of the company's stock, valued at approximately $909,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Maryland State Retirement & Pension System boosted its holdings in shares of Protagonist Therapeutics by 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company's stock valued at $779,000 after acquiring an additional 278 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Protagonist Therapeutics by 10.4% during 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 in the last quarter. Louisiana State Employees Retirement System boosted its stake in Protagonist Therapeutics by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company's stock valued at $1,112,000 after purchasing an additional 300 shares in the last quarter. KBC Group NV increased its position in shares of Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company's stock valued at $81,000 after purchasing an additional 737 shares during the period. Finally, Moran Wealth Management LLC raised its stake in shares of Protagonist Therapeutics by 6.2% in the 4th quarter. Moran Wealth Management LLC now owns 15,961 shares of the company's stock worth $616,000 after buying an additional 931 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 other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the transaction, the chief executive officer now owns 540,260 shares of the company's stock, valued at approximately $20,627,126.80. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Arturo Md Molina sold 30,514 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the sale, the insider now owns 83,892 shares of the company's stock, valued at $4,676,140.08. The trade was a 26.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,776 shares of company stock worth $3,585,010. 5.40% of the stock is currently owned by corporate insiders.

Protagonist Therapeutics Stock Down 0.2 %

NASDAQ:PTGX traded down $0.12 on Thursday, reaching $49.44. The stock had a trading volume of 715,396 shares, compared to its average volume of 760,461. The company has a market capitalization of $3.03 billion, a P/E ratio of 18.59 and a beta of 2.34. The stock has a fifty day moving average price of $42.04 and a 200-day moving average price of $42.82. 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 issued its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $56.65 million. Sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PTGX shares. StockNews.com lowered Protagonist Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, December 10th. HC Wainwright reaffirmed a "buy" rating and set a $54.00 target price on shares of Protagonist Therapeutics in a research report on Monday, March 10th. The Goldman Sachs Group lowered their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Truist Financial raised their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Finally, BMO Capital Markets upped their target price on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.56.

Protagonist Therapeutics 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.