Assenagon Asset Management S.A. Sells 7,367 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Assenagon Asset Management S.A. cut its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 14.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,872 shares of the company's stock after selling 7,367 shares during the period. Assenagon Asset Management S.A. owned about 0.07% of Protagonist Therapeutics worth $2,170,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PTGX. GF Fund Management CO. LTD. purchased a new stake in Protagonist Therapeutics in the 4th quarter valued at about $48,000. GAMMA Investing LLC raised its holdings in shares of Protagonist Therapeutics by 153.3% in the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock valued at $58,000 after purchasing an additional 728 shares in the last quarter. Covestor Ltd raised its holdings in shares of Protagonist Therapeutics by 5,200.0% in the 4th quarter. Covestor Ltd now owns 1,643 shares of the company's stock valued at $63,000 after purchasing an additional 1,612 shares in the last quarter. New Vernon Capital Holdings II LLC bought a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at about $118,000. Finally, Cibc World Markets Corp bought a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at about $211,000. 98.63% of the stock is currently owned by institutional investors.

Protagonist Therapeutics Price Performance

Shares of NASDAQ PTGX traded down $1.29 during trading hours on Wednesday, reaching $53.92. The stock had a trading volume of 918,437 shares, compared to its average volume of 880,349. The business's fifty day moving average is $47.23 and its two-hundred day moving average is $43.56. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 73.61 and a beta of 2.25. Protagonist Therapeutics, Inc. has a twelve month low of $30.67 and a twelve month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.31. Protagonist Therapeutics had a net margin of 27.04% and a return on equity of 9.22%. The business had revenue of $28.32 million for the quarter, compared to analyst estimates of $30.44 million. Sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on PTGX shares. The Goldman Sachs Group decreased their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Monday, February 24th. Wedbush reissued an "outperform" rating and issued a $70.00 price target on shares of Protagonist Therapeutics in a research note on Friday, March 28th. BMO Capital Markets boosted their price objective on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. Wall Street Zen upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $66.10.

Insider Activity at Protagonist Therapeutics

In related news, CFO Asif Ali sold 1,756 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total transaction of $80,776.00. Following the completion of the sale, the chief financial officer now owns 61,065 shares of the company's stock, valued at $2,808,990. This trade represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Arturo Md Molina sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $57.03, for a total value of $570,300.00. Following the transaction, the insider now directly owns 83,892 shares in the company, valued at approximately $4,784,360.76. This trade represents a 10.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.90% of the stock is owned by insiders.

Protagonist Therapeutics 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.