Covestor Ltd Purchases 1,612 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Covestor Ltd increased its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 5,200.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,643 shares of the company’s stock after buying an additional 1,612 shares during the period. Covestor Ltd’s holdings in Protagonist Therapeutics were worth $63,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PTGX. Wellington Management Group LLP acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter worth approximately $1,354,000. Barclays PLC raised its stake in Protagonist Therapeutics by 223.6% during the third quarter. Barclays PLC now owns 126,995 shares of the company’s stock worth $5,714,000 after acquiring an additional 87,755 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Protagonist Therapeutics by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,374,697 shares of the company’s stock valued at $61,873,000 after acquiring an additional 3,528 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at $909,000. Finally, Franklin Resources Inc. grew its holdings in shares of Protagonist Therapeutics by 127.2% in the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock worth $3,782,000 after purchasing an additional 45,674 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PTGX. JMP Securities reaffirmed a “market outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Wedbush reissued an “outperform” rating and issued a $70.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, March 28th. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group reduced their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.44.

Protagonist Therapeutics Trading Up 5.7 %

NASDAQ PTGX opened at $45.03 on Tuesday. The firm has a market capitalization of $2.76 billion, a P/E ratio of 16.93 and a beta of 2.30. The firm’s fifty day moving average price is $44.19 and its two-hundred day moving average price is $42.74. Protagonist Therapeutics, Inc. has a 1 year low of $24.22 and a 1 year high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last issued 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. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The company had revenue of $170.64 million during the quarter, compared to the consensus estimate of $56.65 million. On average, research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of the sale, the chief executive officer now owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. This represents a 0.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Arturo Md Molina sold 30,514 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $55.74, for a total value of $1,700,850.36. Following the transaction, the insider now directly owns 83,892 shares of the company’s stock, valued at $4,676,140.08. This trade represents a 26.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,776 shares of company stock worth $3,585,010 in the last 90 days. Company 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.