Arrowstreet Capital Limited Partnership Purchases 58,002 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Arrowstreet Capital Limited Partnership boosted its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 36.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 216,069 shares of the company’s stock after purchasing an additional 58,002 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.36% of Protagonist Therapeutics worth $8,340,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in shares of Protagonist Therapeutics during the fourth quarter worth approximately $38,000. KBC Group NV increased its holdings in Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock valued at $81,000 after purchasing an additional 737 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Protagonist Therapeutics by 10.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock valued at $121,000 after purchasing an additional 295 shares during the last quarter. Cibc World Markets Corp acquired a new position in Protagonist Therapeutics in the fourth quarter worth $211,000. Finally, Caprock Group LLC bought a new stake in shares of Protagonist Therapeutics during the fourth quarter worth $224,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PTGX has been the topic of several research reports. Truist Financial upped their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. StockNews.com lowered shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group lowered their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, February 24th. JPMorgan Chase & Co. boosted their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $70.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.56.

Protagonist Therapeutics Stock Down 4.4 %

Shares of Protagonist Therapeutics stock opened at $44.44 on Monday. The business has a fifty day simple moving average of $43.48 and a 200 day simple moving average of $42.91. The stock has a market cap of $2.73 billion, a PE 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 posted its earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $2.07. The company had revenue of $170.64 million during 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%. Analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 30,514 shares of the firm’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 transaction of $1,700,850.36. Following the sale, the insider now directly owns 83,892 shares in the company, valued at approximately $4,676,140.08. This trade represents a 26.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William D. Waddill sold 4,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $54.25, for a total transaction of $217,000.00. Following the sale, the director now owns 13,130 shares in the company, valued at approximately $712,302.50. The trade was a 23.35 % decrease in their ownership of the stock. 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 quarter. Corporate insiders own 5.40% of the company’s stock.

About Protagonist Therapeutics

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.