Wells Fargo & Company MN Raises Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Wells Fargo & Company MN raised its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 32.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,796 shares of the company's stock after purchasing an additional 9,423 shares during the quarter. Wells Fargo & Company MN owned 0.07% of Protagonist Therapeutics worth $1,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in Protagonist Therapeutics in the fourth quarter valued at $38,000. KBC Group NV increased its stake in Protagonist Therapeutics by 54.4% in 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 during the last quarter. Nisa Investment Advisors LLC increased its stake in Protagonist Therapeutics by 10.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company's stock worth $121,000 after acquiring an additional 295 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of Protagonist Therapeutics during the fourth quarter valued at approximately $211,000. Finally, Caprock Group LLC bought a new stake in shares of Protagonist Therapeutics in the fourth quarter worth $224,000. Hedge funds and other institutional investors own 98.63% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Truist Financial boosted their target price 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. Wedbush reissued an "outperform" rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a research report on Friday, March 28th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research note on Thursday, April 10th. JPMorgan Chase & Co. lifted their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group cut their price target on Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Monday, February 24th. Two research 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. According to MarketBeat.com, Protagonist Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $65.44.

Protagonist Therapeutics Stock Down 0.8 %

PTGX stock opened at $44.49 on Monday. The company has a market cap of $2.73 billion, a PE ratio of 16.73 and a beta of 2.30. The business has a 50-day simple moving average of $45.58 and a 200 day simple moving average of $42.84. Protagonist Therapeutics, Inc. has a 52 week low of $24.78 and a 52 week high of $60.60.

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

Insiders Place Their Bets

In other news, 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 sale, the chief executive officer now directly owns 540,260 shares in the company, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Asif Ali sold 1,756 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total value of $80,776.00. Following the completion of the sale, the chief financial officer now owns 61,065 shares in the company, valued at $2,808,990. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,532 shares of company stock valued at $3,665,786. 5.40% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.