Alliancebernstein L.P. Has $2.63 Million Stock Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Alliancebernstein L.P. reduced its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 16.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,225 shares of the company's stock after selling 13,694 shares during the quarter. Alliancebernstein L.P. owned about 0.11% of Protagonist Therapeutics worth $2,633,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in Protagonist Therapeutics in the 4th quarter valued at $38,000. KBC Group NV grew its stake in Protagonist Therapeutics by 54.4% during the fourth quarter. KBC Group NV now owns 2,093 shares of the company's stock worth $81,000 after buying an additional 737 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Protagonist Therapeutics by 10.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company's stock worth $121,000 after buying an additional 295 shares in the last quarter. Cibc World Markets Corp bought a new position in Protagonist Therapeutics in the 4th quarter valued at about $211,000. Finally, Caprock Group LLC acquired a new position in shares of Protagonist Therapeutics in the 4th quarter valued at approximately $224,000. Institutional investors own 98.63% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PTGX. Wedbush reiterated an "outperform" rating and set a $70.00 price target on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Truist Financial upped their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. BMO Capital Markets raised their price objective on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. increased their target price on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Two research 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $65.44.

Protagonist Therapeutics Stock Up 1.0 %

PTGX traded up $0.48 during midday trading on Friday, hitting $46.28. 517,389 shares of the company were exchanged, compared to its average volume of 845,844. The firm's 50 day moving average price is $44.86 and its 200-day moving average price is $42.79. Protagonist Therapeutics, Inc. has a 1-year low of $24.22 and a 1-year high of $60.60. The firm has a market capitalization of $2.84 billion, a P/E ratio of 17.40 and a beta of 2.30.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings data on Friday, February 21st. The company reported $1.98 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The company had revenue of $170.64 million for the quarter, compared to analyst estimates of $56.65 million. On average, sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In related news, Director William D. Waddill sold 4,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $54.25, for a total transaction of $217,000.00. Following the transaction, the director now owns 13,130 shares in the company, valued at $712,302.50. The trade was a 23.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction 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 $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,776 shares of company stock worth $3,585,010. Company insiders own 5.40% of the company's stock.

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.