Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,170 shares of the company’s stock after acquiring an additional 278 shares during the period. Maryland State Retirement & Pension System’s holdings in Protagonist Therapeutics were worth $779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Protagonist Therapeutics by 52.9% in the third quarter. State Street Corp now owns 3,183,542 shares of the company’s stock valued at $143,259,000 after purchasing an additional 1,101,218 shares during the period. Principal Financial Group Inc. boosted its position in 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 during the last quarter. Raymond James Financial Inc. acquired a new position in Protagonist Therapeutics in the 4th quarter worth approximately $11,708,000. Pacer Advisors Inc. raised its position in Protagonist Therapeutics by 8.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company’s stock worth $72,432,000 after buying an additional 142,376 shares during the last quarter. Finally, RTW Investments LP lifted its stake in Protagonist Therapeutics by 2.6% during the 3rd quarter. RTW Investments LP now owns 5,426,112 shares of the company’s stock valued at $244,175,000 after acquiring an additional 139,708 shares during the period. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PTGX shares. StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Truist Financial raised their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. BTIG Research set a $73.00 price target on Protagonist Therapeutics in a report on Monday, March 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $54.00 price objective on shares of Protagonist Therapeutics in a research note on Monday, March 10th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.56.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $52.53 on Tuesday. The stock has a market capitalization of $3.22 billion, a P/E ratio of 19.75 and a beta of 2.34. The company’s fifty day moving average price is $41.52 and its 200 day moving average price is $42.70. Protagonist Therapeutics, Inc. has a 1 year low of $24.22 and a 1 year high of $60.60.

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

Insiders Place Their Bets

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics 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 sale, the chief executive officer now owns 540,260 shares of the company’s stock, valued at $20,627,126.80. The trade was a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Arturo Md Molina sold 30,514 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 83,892 shares of the company’s stock, valued at $4,676,140.08. This trade represents a 26.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 64,776 shares of company stock worth $3,585,010. Corporate insiders own 5.40% of the company’s stock.

Protagonist Therapeutics 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.