Bank of New York Mellon Corp Has $18.23 Million Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Bank of New York Mellon Corp decreased its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 3.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 376,863 shares of the company's stock after selling 13,925 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.61% of Protagonist Therapeutics worth $18,225,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in 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 acquiring an additional 728 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Protagonist Therapeutics in the 4th quarter valued at $48,000. Covestor Ltd increased its holdings in 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 acquiring an additional 1,612 shares during the last quarter. New Vernon Capital Holdings II LLC bought a new stake in Protagonist Therapeutics in the 4th quarter valued at $118,000. Finally, Cibc World Markets Corp bought a new stake in shares of Protagonist Therapeutics in the 4th quarter worth about $211,000. 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. Wedbush reaffirmed an "outperform" rating and set a $70.00 price target on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Citigroup started coverage on shares of Protagonist Therapeutics in a research report on Tuesday, June 17th. They issued a "buy" rating and a $72.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. Finally, Wall Street Zen raised shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $66.10.

Protagonist Therapeutics Stock Down 1.7%

Protagonist Therapeutics stock traded down $0.96 during trading on Friday, reaching $55.48. The stock had a trading volume of 471,125 shares, compared to its average volume of 842,978. Protagonist Therapeutics, Inc. has a 52-week low of $32.50 and a 52-week high of $60.60. The business has a 50 day moving average price of $51.29 and a 200 day moving average price of $45.65. The stock has a market cap of $3.44 billion, a PE ratio of 73.97 and a beta of 2.26.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $30.44 million. On average, equities analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Insiders Place Their Bets

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