Protagonist Therapeutics, Inc. $PTGX Stake Lifted by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 81.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,721 shares of the company’s stock after buying an additional 2,123 shares during the quarter. Advisors Asset Management Inc.’s holdings in Protagonist Therapeutics were worth $228,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. lifted its holdings in shares of Protagonist Therapeutics by 22.0% in the first quarter. GF Fund Management CO. LTD. now owns 1,526 shares of the company’s stock valued at $74,000 after buying an additional 275 shares during the period. Hsbc Holdings PLC grew its stake in shares of Protagonist Therapeutics by 4.1% in the 1st quarter. Hsbc Holdings PLC now owns 8,458 shares of the company’s stock worth $405,000 after purchasing an additional 330 shares during the last quarter. Covestor Ltd grew its stake in shares of Protagonist Therapeutics by 27.0% in the 1st quarter. Covestor Ltd now owns 2,087 shares of the company’s stock worth $101,000 after purchasing an additional 444 shares during the last quarter. AlphaQuest LLC grew its stake in shares of Protagonist Therapeutics by 24.2% in the 1st quarter. AlphaQuest LLC now owns 2,704 shares of the company’s stock worth $131,000 after purchasing an additional 527 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Protagonist Therapeutics by 38.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,992 shares of the company’s stock worth $96,000 after purchasing an additional 551 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PTGX shares. JMP Securities lifted their price objective 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. Wall Street Zen raised shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 8th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. Finally, Citigroup reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $67.20.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $59.68 on Friday. The company has a 50 day moving average price of $55.55 and a 200 day moving average price of $50.51. Protagonist Therapeutics, Inc. has a 52 week low of $33.31 and a 52 week high of $61.89. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 85.26 and a beta of 2.22.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%.The firm had revenue of $5.55 million during the quarter, compared to analyst estimates of $8.32 million. Equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the business’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 transaction, the chief executive officer directly owned 548,538 shares of the company’s stock, valued at approximately $30,197,016.90. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William D. Waddill sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $59.25, for a total transaction of $237,000.00. Following the transaction, the director directly owned 9,130 shares in the company, valued at $540,952.50. The trade was a 30.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,859 shares of company stock worth $3,687,577 over the last ninety days. 4.90% of the stock is currently owned by insiders.

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.