The Manufacturers Life Insurance Company Boosts Stake in Protagonist Therapeutics, Inc. $PTGX

The Manufacturers Life Insurance Company raised its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 12.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 127,818 shares of the company’s stock after acquiring an additional 14,478 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Protagonist Therapeutics were worth $13,472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PTGX. Farther Finance Advisors LLC increased its position in shares of Protagonist Therapeutics by 110.6% in the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 156 shares during the last quarter. Greenline Wealth Management LLC purchased a new position in Protagonist Therapeutics in the 4th quarter worth approximately $27,000. Osaic Holdings Inc. grew its stake in Protagonist Therapeutics by 79.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after buying an additional 525 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Protagonist Therapeutics by 222.4% in the 4th quarter. Hantz Financial Services Inc. now owns 951 shares of the company’s stock worth $83,000 after buying an additional 656 shares during the last quarter. Finally, Canton Hathaway LLC purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at $87,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Insider Activity

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the transaction, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at $52,410,617.36. The trade was a 12.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William D. Waddill sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total value of $1,061,460.00. Following the completion of the sale, the director owned 7,825 shares of the company’s stock, valued at $922,880.50. The trade was a 53.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 161,130 shares of company stock valued at $16,355,220. Insiders own 5.19% of the company’s stock.

Protagonist Therapeutics Price Performance

Protagonist Therapeutics stock opened at $136.64 on Monday. The firm has a fifty day simple moving average of $120.38 and a two-hundred day simple moving average of $103.39. Protagonist Therapeutics, Inc. has a twelve month low of $50.49 and a twelve month high of $143.29. The company has a market capitalization of $8.79 billion, a PE ratio of -75.49 and a beta of 1.79.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.55. The firm had revenue of $56.37 million for the quarter, compared to analysts’ expectations of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. As a group, equities analysts expect that Protagonist Therapeutics, Inc. will post 3.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PTGX has been the subject of a number of research analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a report on Friday, July 17th. TD Cowen reissued a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. Zacks Research upgraded Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Protagonist Therapeutics in a research report on Friday, May 15th. Finally, Truist Financial raised their price objective on Protagonist Therapeutics from $121.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $123.00.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.