683 Capital Management LLC Sells 10,000 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

683 Capital Management LLC decreased its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 410,000 shares of the company's stock after selling 10,000 shares during the quarter. Protagonist Therapeutics comprises about 1.0% of 683 Capital Management LLC's investment portfolio, making the stock its 16th largest position. 683 Capital Management LLC owned about 0.69% of Protagonist Therapeutics worth $15,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its stake in Protagonist Therapeutics by 4.5% during the 4th quarter. Bank of Montreal Can now owns 6,250 shares of the company's stock worth $241,000 after buying an additional 270 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of Protagonist Therapeutics by 1.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company's stock worth $779,000 after buying an additional 278 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in 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 buying an additional 295 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Protagonist Therapeutics by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company's stock valued at $1,112,000 after purchasing an additional 300 shares during the period. Finally, KBC Group NV lifted its stake in Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company's stock worth $81,000 after acquiring an additional 737 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on PTGX shares. BMO Capital Markets boosted their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. BTIG Research set a $73.00 target price on Protagonist Therapeutics in a research note on Monday, March 3rd. Wedbush reissued an "outperform" rating and set a $70.00 price target on shares of Protagonist Therapeutics in a report on Friday, March 28th. Truist Financial increased their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group cut their price target on Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $65.44.

Insider Activity

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 30,514 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the transaction, the insider now owns 83,892 shares of the company's stock, valued at approximately $4,676,140.08. This represents a 26.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Waddill sold 4,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.25, for a total value of $217,000.00. Following the transaction, the director now owns 13,130 shares in the company, valued at approximately $712,302.50. This trade represents a 23.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,532 shares of company stock worth $3,665,786. Company insiders own 5.40% of the company's stock.

Protagonist Therapeutics Price Performance

Protagonist Therapeutics stock opened at $44.99 on Friday. The company has a market cap of $2.76 billion, a P/E ratio of 16.91 and a beta of 2.30. The firm's 50 day simple moving average is $46.16 and its 200-day simple moving average is $42.86. Protagonist Therapeutics, Inc. has a fifty-two week low of $25.23 and a fifty-two week high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $56.65 million. On average, analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal 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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