Alliancebernstein L.P. Trims Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Alliancebernstein L.P. decreased its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 16.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,225 shares of the company’s stock after selling 13,694 shares during the quarter. Alliancebernstein L.P.’s holdings in Protagonist Therapeutics were worth $2,633,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PTGX. Wellington Management Group LLP grew its position in Protagonist Therapeutics by 3,025.4% during the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock valued at $36,287,000 after acquiring an additional 909,998 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Protagonist Therapeutics by 36.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 216,069 shares of the company’s stock worth $8,340,000 after purchasing an additional 58,002 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Protagonist Therapeutics by 3,962.9% in the 4th 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. JPMorgan Chase & Co. raised its stake in shares of Protagonist Therapeutics by 12.9% in the 4th quarter. JPMorgan Chase & Co. now owns 576,977 shares of the company’s stock valued at $22,271,000 after purchasing an additional 65,792 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its position in shares of Protagonist Therapeutics by 3.0% during the fourth quarter. WINTON GROUP Ltd now owns 26,768 shares of the company’s stock worth $1,033,000 after purchasing an additional 785 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PTGX shares. Wedbush restated an “outperform” rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, March 28th. BMO Capital Markets raised their price objective on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Truist Financial lifted their price objective 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. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Protagonist Therapeutics in a report on Thursday, April 10th. Finally, The Goldman Sachs Group reduced their price target 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. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.44.

Protagonist Therapeutics Stock Up 4.3 %

PTGX stock opened at $46.95 on Wednesday. The firm’s 50-day simple moving average is $44.37 and its 200 day simple moving average is $42.77. The stock has a market cap of $2.88 billion, a PE ratio of 17.65 and a beta of 2.30. Protagonist Therapeutics, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Friday, February 21st. The company reported $1.98 earnings per share 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 for the quarter, compared to the consensus estimate of $56.65 million. Equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 30,514 shares of Protagonist Therapeutics stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the transaction, the insider now directly owns 83,892 shares of the company’s stock, valued at $4,676,140.08. The trade was a 26.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $217,000.00. Following the completion of the sale, the director now owns 13,130 shares in the company, valued at approximately $712,302.50. This trade represents a 23.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,776 shares of company stock worth $3,585,010 over 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.