The Manufacturers Life Insurance Company Purchases 8,576 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

The Manufacturers Life Insurance Company lifted its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 7.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 124,341 shares of the company's stock after purchasing an additional 8,576 shares during the period. The Manufacturers Life Insurance Company owned about 0.21% of Protagonist Therapeutics worth $4,800,000 at the end of the most recent reporting period.

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A number of other institutional investors and hedge funds also recently made changes to their positions in PTGX. Wellington Management Group LLP lifted its holdings in shares of Protagonist Therapeutics by 3,025.4% in the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company's stock worth $36,287,000 after buying an additional 909,998 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Protagonist Therapeutics by 61.5% in the fourth quarter. American Century Companies Inc. now owns 928,286 shares of the company's stock valued at $35,832,000 after purchasing an additional 353,511 shares in the last quarter. Principal Financial Group Inc. increased 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 worth $14,437,000 after purchasing an additional 310,804 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Protagonist Therapeutics during the fourth quarter valued at $11,708,000. Finally, Pictet Asset Management Holding SA lifted its position in Protagonist Therapeutics by 3,962.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 296,511 shares of the company's stock valued at $11,445,000 after purchasing an additional 289,213 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company's stock.

Insider Buying and Selling at Protagonist Therapeutics

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 value 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Arturo Md Molina sold 30,514 shares of Protagonist Therapeutics 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 transaction, the insider now directly owns 83,892 shares in the company, valued at approximately $4,676,140.08. The trade was a 26.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,532 shares of company stock valued at $3,665,786 in the last ninety days. Corporate insiders own 5.40% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PTGX. Wedbush reaffirmed an "outperform" rating and issued a $70.00 price target on shares of Protagonist Therapeutics in a report on Friday, March 28th. The Goldman Sachs Group dropped their target price on 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. increased 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. 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. Finally, HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.44.

Get Our Latest Stock Analysis on PTGX

Protagonist Therapeutics Trading Up 2.1 %

NASDAQ PTGX opened at $43.98 on Friday. The stock has a market cap of $2.72 billion, a PE ratio of 16.53 and a beta of 2.65. Protagonist Therapeutics, Inc. has a 12 month low of $26.79 and a 12 month high of $60.60. The company's 50-day moving average price is $46.87 and its 200-day moving average price is $42.75.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.50) by $0.31. The business had revenue of $28.32 million for the quarter, compared to the consensus estimate of $30.44 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. As a group, sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

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.

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