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MetLife Investment Management LLC decreased its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Free Report) by 2.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,790 shares of the company’s stock after selling 1,008 shares during the quarter. MetLife Investment Management LLC’s holdings in Protagonist Therapeutics were worth $1,682,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. Farallon Capital Management LLC boosted its holdings in Protagonist Therapeutics by 1.2% during the fourth quarter. Farallon Capital Management LLC now owns 5,930,006 shares of the company’s stock worth $228,898,000 after purchasing an additional 69,000 shares during the last quarter. RTW Investments LP boosted its holdings in Protagonist Therapeutics by 1.3% during the fourth quarter. RTW Investments LP now owns 5,498,545 shares of the company’s stock worth $212,244,000 after purchasing an additional 72,433 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Protagonist Therapeutics by 1.4% during the first quarter. Vanguard Group Inc. now owns 4,277,218 shares of the company’s stock worth $206,846,000 after purchasing an additional 57,181 shares during the last quarter. Deep Track Capital LP acquired a new position in Protagonist Therapeutics during the fourth quarter worth $38,600,000. Finally, Wellington Management Group LLP boosted its holdings in Protagonist Therapeutics by 5.0% during the first quarter. Wellington Management Group LLP now owns 987,370 shares of the company’s stock worth $47,749,000 after purchasing an additional 47,293 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. Citigroup restated an “outperform” rating on shares of Protagonist Therapeutics in a report on Thursday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. Wall Street Zen raised shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, June 8th. Finally, JMP Securities upped their price target on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Protagonist Therapeutics has a consensus rating of “Buy” and a consensus target price of $67.20.
Read Our Latest Report on Protagonist Therapeutics
Protagonist Therapeutics Trading Down 0.3%
NASDAQ PTGX opened at $58.85 on Wednesday. The firm’s fifty day moving average price is $54.80 and its two-hundred day moving average price is $49.59. Protagonist Therapeutics, Inc. has a 1 year low of $33.31 and a 1 year high of $61.89. The firm has a market capitalization of $3.66 billion, a P/E ratio of 84.07 and a beta of 2.22.
Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%.The company had revenue of $5.55 million for the quarter, compared to analyst estimates of $8.32 million. On average, research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.
Insider Buying and Selling at Protagonist Therapeutics
In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $55.05, for a total value of $1,214,678.25. Following the transaction, the chief executive officer directly owned 548,538 shares of the company’s stock, valued at $30,197,016.90. This represents a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Arturo Md Molina sold 10,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total transaction of $570,300.00. Following the completion of the transaction, the insider directly owned 83,892 shares in the company, valued at approximately $4,784,360.76. This represents a 10.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,859 shares of company stock valued at $4,257,877 in the last three months. 4.90% of the stock is currently owned by company insiders.
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.
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