Bank of New York Mellon Corp Purchases New Position in Protagonist Therapeutics, Inc. $PTGX

Bank of New York Mellon Corp purchased a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 358,300 shares of the company's stock, valued at approximately $43,920,000. Bank of New York Mellon Corp owned 0.56% of Protagonist Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in Protagonist Therapeutics by 110.6% in the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock worth $26,000 after buying an additional 156 shares during the last quarter. Greenline Wealth Management LLC purchased a new position in shares of Protagonist Therapeutics in the fourth quarter worth about $27,000. Osaic Holdings Inc. grew its position in Protagonist Therapeutics by 79.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company's stock worth $65,000 after acquiring an additional 525 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Protagonist Therapeutics by 222.4% in the 4th quarter. Hantz Financial Services Inc. now owns 951 shares of the company's stock worth $83,000 after purchasing an additional 656 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Protagonist Therapeutics during the second quarter valued at approximately $89,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PTGX has been the topic of several research analyst reports. Wall Street Zen raised Protagonist Therapeutics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 22nd. UBS Group upgraded shares of Protagonist Therapeutics to a "buy" rating in a report on Monday, August 10th. Barclays boosted their price objective on shares of Protagonist Therapeutics from $151.00 to $153.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Truist Financial upped their price objective on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Finally, Weiss Ratings raised shares of Protagonist Therapeutics from a "sell (d+)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $140.53.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 9,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the completion of the transaction, the director owned 7,825 shares in the company, valued at approximately $922,880.50. The trade was a 53.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 34,239 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $148.52, for a total value of $5,085,176.28. Following the completion of the sale, the chief executive officer directly owned 523,478 shares in the company, valued at $77,746,952.56. This trade represents a 6.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 118,000 shares of company stock worth $16,921,379 in the last 90 days. 5.19% of the stock is currently owned by company insiders.

Protagonist Therapeutics Trading Down 1.3%

Shares of PTGX stock opened at $149.50 on Friday. The company's fifty day moving average price is $137.88 and its 200-day moving average price is $112.27. The stock has a market cap of $9.67 billion, a PE ratio of 145.15 and a beta of 1.78. Protagonist Therapeutics, Inc. has a 12 month low of $54.50 and a 12 month high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.27 by $0.02. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The business had revenue of $213.47 million for the quarter, compared to analyst estimates of $212.03 million. The company's revenue was up 3746.8% compared to the same quarter last year. On average, sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current fiscal year.

Protagonist Therapeutics Profile

Protagonist Therapeutics, Inc NASDAQ: PTGX is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist's approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn's disease.

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