Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE lifted its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 13.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,872 shares of the company's stock after acquiring an additional 15,970 shares during the period. Bank of America Corp DE owned 0.23% of Protagonist Therapeutics worth $5,206,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PTGX. Freestone Grove Partners LP purchased a new position in Protagonist Therapeutics in the fourth quarter valued at approximately $256,000. AQR Capital Management LLC raised its holdings in Protagonist Therapeutics by 9.4% in the fourth quarter. AQR Capital Management LLC now owns 150,097 shares of the company's stock valued at $5,794,000 after buying an additional 12,926 shares during the period. Northern Trust Corp raised its holdings in Protagonist Therapeutics by 8.4% in the fourth quarter. Northern Trust Corp now owns 628,580 shares of the company's stock valued at $24,263,000 after buying an additional 48,491 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Protagonist Therapeutics by 7.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 124,341 shares of the company's stock valued at $4,800,000 after buying an additional 8,576 shares during the period. Finally, Artia Global Partners LP grew its position in Protagonist Therapeutics by 136.1% in the fourth quarter. Artia Global Partners LP now owns 293,851 shares of the company's stock valued at $11,343,000 after acquiring an additional 169,411 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Protagonist Therapeutics Price Performance

PTGX traded up $1.83 during trading hours on Thursday, hitting $47.58. 688,454 shares of the stock were exchanged, compared to its average volume of 882,585. The stock has a 50-day simple moving average of $45.42 and a 200-day simple moving average of $42.58. Protagonist Therapeutics, Inc. has a 12 month low of $27.00 and a 12 month high of $60.60. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 17.89 and a beta of 2.65.

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 (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.31. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The firm had revenue of $28.32 million for the quarter, compared to analysts' expectations of $30.44 million. Sell-side analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PTGX. Wedbush reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, March 28th. BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a research report on Monday, March 3rd. Truist Financial raised their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. JMP Securities reissued a "market outperform" rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Finally, 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 research report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $65.44.

Insider Buying and Selling

In other Protagonist Therapeutics news, CFO Asif Ali sold 24,903 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total value of $1,462,553.19. Following the sale, the chief financial officer now directly owns 62,821 shares in the company, valued at approximately $3,689,477.33. This trade represents a 28.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Arturo Md Molina sold 30,514 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $55.74, for a total value of $1,700,850.36. Following the completion of the sale, the insider now owns 83,892 shares in the company, valued at $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 have sold 61,173 shares of company stock worth $3,461,180 over the last ninety days. 4.90% of the stock is owned by insiders.

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.