Summit Global Investments Acquires New Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Summit Global Investments bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 4th quarter, HoldingsChannel reports. The fund bought 23,557 shares of the company’s stock, valued at approximately $909,000.

Several other large investors also recently made changes to their positions in PTGX. State Street Corp lifted its stake in shares of Protagonist Therapeutics by 52.9% in the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after acquiring an additional 1,101,218 shares during the period. Principal Financial Group Inc. lifted its position in Protagonist Therapeutics by 3,099.4% in the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock worth $14,437,000 after purchasing an additional 310,804 shares during the period. Raymond James Financial Inc. acquired a new stake in Protagonist Therapeutics in the fourth quarter worth approximately $11,708,000. Pacer Advisors Inc. boosted its stake in Protagonist Therapeutics by 8.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company’s stock valued at $72,432,000 after purchasing an additional 142,376 shares in the last quarter. Finally, RTW Investments LP increased its position in shares of Protagonist Therapeutics by 2.6% during the 3rd quarter. RTW Investments LP now owns 5,426,112 shares of the company’s stock valued at $244,175,000 after purchasing an additional 139,708 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 30,514 shares of the business’s 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 directly owns 83,892 shares of the company’s stock, valued at $4,676,140.08. The trade was a 26.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William D. Waddill sold 4,000 shares of Protagonist Therapeutics stock in a transaction on Monday, March 17th. The shares were sold at an average price of $54.25, for a total transaction of $217,000.00. Following the completion of the sale, the director now directly owns 13,130 shares of the company’s stock, valued at approximately $712,302.50. The trade was a 23.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,776 shares of company stock valued at $3,585,010. 5.40% of the stock is owned by insiders.

Protagonist Therapeutics Trading Down 0.8 %

Shares of PTGX stock opened at $52.65 on Monday. The stock’s fifty day simple moving average is $41.21 and its 200-day simple moving average is $42.63. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 19.79 and a beta of 2.34. Protagonist Therapeutics, Inc. has a 1-year low of $24.22 and a 1-year high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Truist Financial raised their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. The Goldman Sachs Group reduced their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. HC Wainwright reiterated a “buy” rating and issued a $54.00 target price on shares of Protagonist Therapeutics in a report on Monday, March 10th. Wedbush restated an “outperform” rating and set a $70.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, March 11th. Finally, BMO Capital Markets upped their price target on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $62.56.

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.