Protagonist Therapeutics, Inc. $PTGX Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 22.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,736 shares of the company’s stock after selling 6,348 shares during the quarter. State of Alaska Department of Revenue’s holdings in Protagonist Therapeutics were worth $3,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Keating Financial Advisory Services Inc. bought a new stake in Protagonist Therapeutics in the second quarter valued at approximately $30,000. Allworth Financial LP acquired a new stake in Protagonist Therapeutics during the 2nd quarter valued at approximately $31,000. Quantbot Technologies LP acquired a new stake in Protagonist Therapeutics during the 2nd quarter valued at approximately $42,000. Harbor Investment Advisory LLC bought a new position in Protagonist Therapeutics during the 2nd quarter worth approximately $89,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Protagonist Therapeutics by 63.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company’s stock worth $96,000 after purchasing an additional 352 shares during the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. HC Wainwright boosted their price target on shares of Protagonist Therapeutics from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. BMO Capital Markets upped their price objective on shares of Protagonist Therapeutics from $178.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday, September 1st. The Goldman Sachs Group upgraded shares of Protagonist Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $186.00 in a research report on Monday, August 10th. Truist Financial lifted their target price on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Wedbush lifted their target price on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. According to data from MarketBeat, Protagonist Therapeutics presently has an average rating of “Buy” and a consensus price target of $154.44.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 7,278 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $144.10, for a total value of $1,048,759.80. Following the transaction, the chief executive officer directly owned 522,968 shares of the company’s stock, valued at approximately $75,359,688.80. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Asif Ali sold 58,629 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $141.78, for a total value of $8,312,419.62. Following the completion of the transaction, the chief financial officer directly owned 59,003 shares in the company, valued at approximately $8,365,445.34. This trade represents a 49.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 283,629 shares of company stock valued at $41,443,786 in the last ninety days. 5.19% of the stock is currently owned by insiders.

Protagonist Therapeutics Trading Down 5.7%

PTGX stock opened at $128.75 on Friday. The firm has a market cap of $8.33 billion, a PE ratio of 125.00 and a beta of 1.53. The stock has a 50-day moving average price of $145.39 and a 200-day moving average price of $124.94. Protagonist Therapeutics, Inc. has a 1-year low of $73.08 and a 1-year high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.27 by $0.02. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%. The company had revenue of $213.47 million for the quarter, compared to analyst estimates of $212.03 million. The business’s revenue was up 3746.8% on a year-over-year basis. On average, analysts forecast that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current year.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ:PTGX) is a clinical-stage biopharmaceutical company focused on developing peptide-based medicines for chronic immune-mediated and hematologic diseases. The company uses its proprietary technology platform to design peptides intended to selectively interact with disease-relevant biological targets.

Protagonist’s pipeline includes icotrokinra, formerly known as JNJ-2113, an investigational oral peptide that selectively targets the interleukin-23 receptor.