Arrowstreet Capital Limited Partnership Purchases 58,002 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Arrowstreet Capital Limited Partnership lifted its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 36.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,069 shares of the company’s stock after buying an additional 58,002 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Protagonist Therapeutics were worth $8,340,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew 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 worth $143,259,000 after buying an additional 1,101,218 shares in the last quarter. American Century Companies Inc. boosted 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 worth $35,832,000 after acquiring an additional 353,511 shares in the last quarter. Principal Financial Group Inc. increased its stake in Protagonist Therapeutics by 3,099.4% in the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after acquiring an additional 310,804 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Protagonist Therapeutics during the fourth quarter valued at approximately $11,708,000. Finally, Pictet Asset Management Holding SA raised its position in Protagonist Therapeutics by 3,962.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 296,511 shares of the company’s stock valued at $11,445,000 after purchasing an additional 289,213 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PTGX. JPMorgan Chase & Co. lifted their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group lowered their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. 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. BMO Capital Markets upped their price objective on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. Finally, JMP Securities restated a “market outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.56.

Protagonist Therapeutics Stock Down 4.4 %

Shares of Protagonist Therapeutics stock opened at $44.44 on Monday. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 16.71 and a beta of 2.30. Protagonist Therapeutics, Inc. has a twelve month low of $24.22 and a twelve month high of $60.60. The company’s fifty day moving average is $43.48 and its 200 day moving average is $42.91.

Protagonist Therapeutics (NASDAQ:PTGX) last released 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. 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 for the quarter, compared to analyst estimates of $56.65 million. As a group, equities analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In related news, Director William D. Waddill sold 4,000 shares of Protagonist Therapeutics stock in a transaction 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 transaction, the director now owns 13,130 shares of the company’s stock, valued at $712,302.50. This trade represents a 23.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were 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 $20,627,126.80. This trade represents a 0.98 % 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 over the last ninety days. Insiders own 5.40% of the company’s stock.

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.