Yousif Capital Management LLC boosted its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,404 shares of the company’s stock after acquiring an additional 1,067 shares during the quarter. Yousif Capital Management LLC’s holdings in Protagonist Therapeutics were worth $1,294,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC increased its holdings in Protagonist Therapeutics by 201.5% during the 2nd quarter. CWM LLC now owns 609 shares of the company’s stock worth $34,000 after purchasing an additional 407 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in Protagonist Therapeutics by 4.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 18,216 shares of the company’s stock worth $1,007,000 after purchasing an additional 818 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Protagonist Therapeutics by 3.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 29,000 shares of the company’s stock worth $1,603,000 after purchasing an additional 900 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in Protagonist Therapeutics by 19.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,400 shares of the company’s stock worth $575,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Protagonist Therapeutics by 16.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,394 shares of the company’s stock worth $132,000 after purchasing an additional 340 shares in the last quarter. 98.63% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on PTGX. JMP Securities boosted their price objective on Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a “market outperform” rating in a report on Thursday, August 7th. Leerink Partners initiated coverage on shares of Protagonist Therapeutics in a research report on Friday, September 12th. They issued an “outperform” rating and a $73.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. Johnson Rice set a $112.00 price objective on shares of Protagonist Therapeutics in a research report on Monday, October 13th. Finally, Citigroup upped their price objective on shares of Protagonist Therapeutics from $72.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.
Protagonist Therapeutics Stock Performance
Shares of PTGX stock opened at $76.72 on Tuesday. Protagonist Therapeutics, Inc. has a 52-week low of $33.31 and a 52-week high of $93.25. The company has a 50-day simple moving average of $63.00 and a two-hundred day simple moving average of $54.36. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 109.60 and a beta of 2.20.
Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. The company had revenue of $5.55 million for the quarter, compared to the consensus estimate of $8.32 million. On average, sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CEO Dinesh V. Ph D. Patel sold 17,520 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $54.79, for a total transaction of $959,920.80. Following the completion of the transaction, the chief executive officer directly owned 531,018 shares of the company’s stock, valued at $29,094,476.22. This represents a 3.19% decrease in their position. 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 12,000 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $81.62, for a total transaction of $979,440.00. Following the transaction, the director directly owned 5,130 shares of the company’s stock, valued at $418,710.60. This represents a 70.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,935 shares of company stock valued at $3,003,895 over the last three months. Insiders own 4.90% of the company’s stock.
Protagonist Therapeutics Company 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.
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