MetLife Investment Management LLC Sells 1,008 Shares of Protagonist Therapeutics, Inc. $PTGX

MetLife Investment Management LLC cut its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,790 shares of the company’s stock after selling 1,008 shares during the period. MetLife Investment Management LLC owned 0.06% of Protagonist Therapeutics worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Deep Track Capital LP bought a new stake in shares of Protagonist Therapeutics during the fourth quarter worth approximately $38,600,000. Wellington Management Group LLP raised its stake in shares of Protagonist Therapeutics by 3,025.4% during the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock worth $36,287,000 after buying an additional 909,998 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of Protagonist Therapeutics during the fourth quarter worth approximately $13,162,000. Soleus Capital Management L.P. bought a new stake in shares of Protagonist Therapeutics during the fourth quarter worth approximately $10,615,000. Finally, Burney Co. bought a new stake in shares of Protagonist Therapeutics during the first quarter worth approximately $9,768,000. 98.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PTGX shares. JMP Securities boosted their price target on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Citigroup reissued an “outperform” rating on shares of Protagonist Therapeutics in a research note on Thursday, August 7th. Wall Street Zen raised shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $67.20.

Insider Activity

In other news, insider Arturo Md Molina sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total value of $570,300.00. Following the completion of the transaction, the insider owned 83,892 shares in the company, valued at $4,784,360.76. This represents a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $55.05, for a total transaction of $1,214,678.25. Following the completion of the transaction, the chief executive officer owned 548,538 shares of the company’s stock, valued at $30,197,016.90. This trade represents a 3.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,859 shares of company stock worth $4,257,877 over the last quarter. 4.90% of the stock is currently owned by company insiders.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX opened at $58.85 on Wednesday. Protagonist Therapeutics, Inc. has a 52 week low of $33.31 and a 52 week high of $61.89. The company has a market capitalization of $3.66 billion, a PE ratio of 84.07 and a beta of 2.22. The company has a 50 day moving average price of $54.80 and a two-hundred day moving average price of $49.59.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Wednesday, August 6th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.02). The firm had revenue of $5.55 million during the quarter, compared to the consensus estimate of $8.32 million. Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. On average, sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

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.