Comerica Bank Has $794,000 Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Comerica Bank reduced its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,558 shares of the company’s stock after selling 346 shares during the quarter. Comerica Bank’s holdings in Protagonist Therapeutics were worth $794,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Barclays PLC boosted its position in shares of Protagonist Therapeutics by 223.6% during the third quarter. Barclays PLC now owns 126,995 shares of the company’s stock valued at $5,714,000 after buying an additional 87,755 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Protagonist Therapeutics by 127.2% during the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock valued at $3,782,000 after buying an additional 45,674 shares during the last quarter. Principal Financial Group Inc. boosted its position 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 purchasing an additional 310,804 shares during the period. FNY Investment Advisers LLC purchased a new position in Protagonist Therapeutics in the 4th quarter valued at approximately $38,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at $2,016,000. 98.63% of the stock is currently owned by institutional investors.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $44.27 on Wednesday. Protagonist Therapeutics, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $60.60. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 16.64 and a beta of 2.65. The business’s 50-day moving average is $47.20 and its two-hundred day moving average is $42.67.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.31. The company had revenue of $28.32 million for the quarter, compared to analysts’ expectations of $30.44 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. Equities analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. 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. BTIG Research set a $73.00 target price on Protagonist Therapeutics in a research note on Monday, March 3rd. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Protagonist Therapeutics in a research report on Thursday, April 10th. Finally, 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. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.44.

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction dated 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 approximately $20,627,126.80. This represents a 0.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 sale, the chief financial officer now owns 61,065 shares in the company, valued at approximately $2,808,990. This trade represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,532 shares of company stock worth $3,665,786 in the last three months. Company insiders own 5.40% of the company’s stock.

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.