8,700 Shares in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 8,700 shares of the company’s stock, valued at approximately $336,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Protagonist Therapeutics by 52.9% during the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock valued at $143,259,000 after acquiring an additional 1,101,218 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Protagonist Therapeutics by 8.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company’s stock worth $72,432,000 after purchasing an additional 142,376 shares during the period. Geode Capital Management LLC boosted its holdings in Protagonist Therapeutics by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,374,697 shares of the company’s stock valued at $61,873,000 after purchasing an additional 3,528 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Protagonist Therapeutics by 61.5% in the 4th quarter. American Century Companies Inc. now owns 928,286 shares of the company’s stock valued at $35,832,000 after purchasing an additional 353,511 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 buying an additional 12,906 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on PTGX shares. Truist Financial upped their price target on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. BMO Capital Markets upped their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Wedbush reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Finally, BTIG Research set a $73.00 target price on shares of Protagonist Therapeutics in a research note on Monday, March 3rd. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.56.

Insider Transactions at Protagonist Therapeutics

In other news, insider Arturo Md Molina sold 30,514 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $55.74, for a total value of $1,700,850.36. Following the completion of the sale, the insider now directly owns 83,892 shares of the company’s stock, valued at $4,676,140.08. This represents a 26.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William D. Waddill sold 4,000 shares of Protagonist Therapeutics 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 transaction, the director now directly owns 13,130 shares in the company, valued at $712,302.50. The trade was a 23.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,776 shares of company stock worth $3,585,010 over the last 90 days. 5.40% of the stock is owned by insiders.

Protagonist Therapeutics Trading Down 4.4 %

Shares of NASDAQ PTGX opened at $44.44 on Friday. Protagonist Therapeutics, Inc. has a 1-year low of $24.22 and a 1-year high of $60.60. The company has a 50-day moving average of $43.48 and a two-hundred day moving average of $42.92. The company has a market cap of $2.73 billion, a PE ratio of 16.71 and a beta of 2.30.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share 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 during the quarter, compared to analysts’ expectations of $56.65 million. As a group, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Protagonist Therapeutics Company 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.