Wellington Management Group LLP Has $36.29 Million Stock Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Wellington Management Group LLP grew its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 3,025.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 940,077 shares of the company's stock after acquiring an additional 909,998 shares during the quarter. Wellington Management Group LLP owned approximately 1.58% of Protagonist Therapeutics worth $36,287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PTGX. State Street Corp increased its stake in Protagonist Therapeutics by 52.9% during the third quarter. State Street Corp now owns 3,183,542 shares of the company's stock valued at $143,259,000 after purchasing an additional 1,101,218 shares during the last quarter. American Century Companies Inc. grew its position in shares of Protagonist Therapeutics by 61.5% during the 4th quarter. American Century Companies Inc. now owns 928,286 shares of the company's stock valued at $35,832,000 after buying an additional 353,511 shares during the last quarter. Principal Financial Group Inc. raised its stake in Protagonist Therapeutics by 3,099.4% during the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company's stock worth $14,437,000 after acquiring an additional 310,804 shares during the period. Raymond James Financial Inc. bought a new position in Protagonist Therapeutics in the fourth quarter worth about $11,708,000. Finally, Pictet Asset Management Holding SA boosted its stake in Protagonist Therapeutics by 3,962.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 296,511 shares of the company's stock valued at $11,445,000 after acquiring an additional 289,213 shares during the period. 98.63% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Protagonist Therapeutics Trading Up 4.2 %

NASDAQ:PTGX traded up $1.73 during midday trading on Friday, hitting $42.62. 1,157,727 shares of the stock were exchanged, compared to its average volume of 830,537. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 16.02 and a beta of 2.30. The business has a 50-day moving average price of $44.06 and a two-hundred day moving average price of $42.75. Protagonist Therapeutics, Inc. has a one year low of $24.22 and a one year high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued 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 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 analysts' expectations of $56.65 million. Sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Ratings Changes

PTGX has been the topic of a number of research reports. JMP Securities reiterated a "market outperform" rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 7th. BMO Capital Markets boosted 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. The Goldman Sachs Group dropped their price objective 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. Wedbush reissued an "outperform" rating and set a $70.00 target price on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Finally, Truist Financial raised their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. 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 stock. Based on data from MarketBeat, Protagonist Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $65.44.

Insider Buying and Selling

In related news, CFO Asif Ali sold 24,903 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total value of $1,462,553.19. Following the completion of the transaction, the chief financial officer now owns 62,821 shares in the company, valued at $3,689,477.33. This trade represents a 28.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William D. Waddill sold 4,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.25, for a total value of $217,000.00. Following the sale, the director now owns 13,130 shares in the company, valued at approximately $712,302.50. The trade was a 23.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,776 shares of company stock worth $3,585,010 in the last ninety days. 5.40% of the stock is currently owned by corporate insiders.

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.