Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 390,788 shares of the company’s stock after purchasing an additional 34,455 shares during the period. Bank of New York Mellon Corp owned about 0.66% of Protagonist Therapeutics worth $15,084,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its stake in Protagonist Therapeutics by 10.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock worth $121,000 after purchasing an additional 295 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Protagonist Therapeutics by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock worth $1,112,000 after buying an additional 300 shares in the last quarter. KBC Group NV boosted its position in Protagonist Therapeutics by 54.4% during the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after acquiring an additional 737 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Protagonist Therapeutics during the 4th quarter valued at about $38,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Protagonist Therapeutics by 11.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,637 shares of the company’s stock valued at $488,000 after acquiring an additional 1,308 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PTGX. Truist Financial boosted their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday. HC Wainwright reissued a “buy” rating and set a $54.00 target price on shares of Protagonist Therapeutics in a research note on Monday. JPMorgan Chase & Co. upped their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. JMP Securities reissued 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 lowered shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.22.

Insider Transactions at Protagonist Therapeutics

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 completion of the transaction, the chief executive officer now owns 540,260 shares in the company, valued at approximately $20,627,126.80. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX opened at $57.65 on Thursday. The firm has a market capitalization of $3.54 billion, a PE ratio of 21.67 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. The firm’s 50-day moving average is $39.00 and its two-hundred day moving average is $42.06.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. The firm had revenue of $170.64 million during the quarter, compared to analysts’ expectations of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

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.