Covestor Ltd Increases Stock Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Covestor Ltd lifted its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 5,200.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,643 shares of the company’s stock after purchasing an additional 1,612 shares during the quarter. Covestor Ltd’s holdings in Protagonist Therapeutics were worth $63,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in Protagonist Therapeutics during the fourth quarter worth about $38,000. KBC Group NV raised its stake in shares of Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after buying an additional 737 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Protagonist Therapeutics by 10.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock valued at $121,000 after buying an additional 295 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at approximately $211,000. Finally, Caprock Group LLC purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter worth $224,000. 98.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 30,514 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $55.74, for a total value of $1,700,850.36. Following the completion of the sale, the insider now owns 83,892 shares in the company, valued at $4,676,140.08. This represents a 26.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the transaction, the chief executive officer now 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. In the last quarter, insiders have sold 64,776 shares of company stock valued at $3,585,010. 5.40% of the stock is owned by corporate insiders.

Protagonist Therapeutics Trading Up 5.7 %

Shares of NASDAQ:PTGX opened at $45.03 on Tuesday. Protagonist Therapeutics, Inc. has a twelve month low of $24.22 and a twelve month high of $60.60. The firm has a market cap of $2.76 billion, a P/E ratio of 16.93 and a beta of 2.30. The company has a 50 day moving average of $44.19 and a 200-day moving average of $42.74.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of ($0.09) by $2.07. The business had revenue of $170.64 million during the quarter, compared to analyst estimates of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PTGX. BMO Capital Markets upped their price target on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. BTIG Research set a $73.00 price target on Protagonist Therapeutics in a research report on Monday, March 3rd. Wedbush reiterated an “outperform” rating and issued a $70.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, March 28th. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Protagonist Therapeutics in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. upped 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. 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 stock. According to data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $65.44.

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.