8,700 Shares in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,700 shares of the company’s stock, valued at approximately $336,000.

Several other large investors also recently made changes to their positions in PTGX. Franklin Resources Inc. lifted its stake in Protagonist Therapeutics by 127.2% during the third quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock valued at $3,782,000 after purchasing an additional 45,674 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Protagonist Therapeutics by 3,099.4% in the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after buying an additional 310,804 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at $2,016,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Protagonist Therapeutics by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 578,409 shares of the company’s stock worth $22,327,000 after acquiring an additional 12,906 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Protagonist Therapeutics by 223.6% in the 3rd quarter. Barclays PLC now owns 126,995 shares of the company’s stock worth $5,714,000 after acquiring an additional 87,755 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

Insider Activity at Protagonist Therapeutics

In other news, CFO Asif Ali sold 24,903 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $58.73, for a total transaction of $1,462,553.19. Following the transaction, the chief financial officer now owns 62,821 shares in the company, valued at approximately $3,689,477.33. The trade was a 28.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction 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. This represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,776 shares of company stock worth $3,585,010 in the last 90 days. 5.40% of the stock is owned by company insiders.

Protagonist Therapeutics Stock Down 4.4 %

NASDAQ:PTGX opened at $44.44 on Friday. The company’s 50 day moving average is $43.48 and its 200-day moving average is $42.92. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 16.71 and a beta of 2.30. Protagonist Therapeutics, Inc. has a 12 month low of $24.22 and a 12 month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, topping the consensus estimate of ($0.09) by $2.07. The firm had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Research analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PTGX. Wedbush reiterated an “outperform” rating and issued a $70.00 price target on shares of Protagonist Therapeutics in a research report on Friday, March 28th. JPMorgan Chase & Co. raised their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. BMO Capital Markets boosted their price target on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Truist Financial raised their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Finally, The Goldman Sachs Group cut their target price on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. 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 stock. Based on data from MarketBeat, Protagonist Therapeutics has a consensus 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.