Summit Global Investments Purchases Shares of 23,557 Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Summit Global Investments acquired a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 23,557 shares of the company’s stock, valued at approximately $909,000.

Several other large investors have also modified their holdings of the stock. FNY Investment Advisers LLC purchased a new position in Protagonist Therapeutics during the 4th quarter worth approximately $38,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Protagonist Therapeutics in the third quarter valued at approximately $69,000. KBC Group NV grew its position in shares of 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. Nisa Investment Advisors LLC increased its holdings in shares of 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 acquiring an additional 295 shares during the period. Finally, Cibc World Markets Corp purchased a new stake in Protagonist Therapeutics in the 4th quarter valued at $211,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Trading Down 0.8 %

NASDAQ PTGX opened at $52.65 on Monday. The company has a market capitalization of $3.23 billion, a PE ratio of 19.79 and a beta of 2.34. The business’s 50-day moving average price is $41.21 and its 200 day moving average price is $42.63. Protagonist Therapeutics, Inc. has a twelve month low of $24.22 and a twelve month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) 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 the consensus estimate of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Equities analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William D. Waddill sold 4,000 shares of the business’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 completion of the transaction, the director now owns 13,130 shares in the company, valued at $712,302.50. This represents a 23.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,776 shares of company stock worth $3,585,010. Company insiders own 5.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PTGX. JPMorgan Chase & Co. increased their price target on 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 lifted their target price 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 increased their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $54.00 target price on shares of Protagonist Therapeutics in a research report on Monday, March 10th. Two investment 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. According to data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price 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.