Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,882 shares of the company’s stock after selling 2,300 shares during the quarter. New York State Common Retirement Fund’s holdings in Protagonist Therapeutics were worth $690,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Creative Planning purchased a new position in shares of Protagonist Therapeutics in the third quarter valued at $338,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Protagonist Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock valued at $95,000 after buying an additional 379 shares in the last quarter. New York State Teachers Retirement System purchased a new position in shares of Protagonist Therapeutics in the third quarter valued at $1,107,000. Janney Montgomery Scott LLC purchased a new position in shares of Protagonist Therapeutics in the third quarter valued at $866,000. Finally, Amalgamated Bank increased its position in Protagonist Therapeutics by 756.4% during the 3rd quarter. Amalgamated Bank now owns 17,324 shares of the company’s stock worth $780,000 after purchasing an additional 15,301 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PTGX. HC Wainwright reiterated a “buy” rating and set a $54.00 price objective on shares of Protagonist Therapeutics in a research report on Monday. BMO Capital Markets began coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $62.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Finally, StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $55.44.

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total value of $204,606.62. Following the transaction, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at $20,627,126.80. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Trading Up 2.4 %

Shares of NASDAQ:PTGX opened at $38.50 on Tuesday. The stock’s 50-day moving average price is $37.90 and its two-hundred day moving average price is $41.80. Protagonist Therapeutics, Inc. has a 12-month low of $24.22 and a 12-month high of $48.89. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 14.47 and a beta of 2.22.

Protagonist Therapeutics (NASDAQ:PTGX) last issued 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 firm had revenue of $170.64 million for the quarter, compared to analyst estimates of $56.65 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. As a group, research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

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.