Bank of New York Mellon Corp Sells 13,925 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Bank of New York Mellon Corp trimmed its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 376,863 shares of the company's stock after selling 13,925 shares during the period. Bank of New York Mellon Corp owned 0.61% of Protagonist Therapeutics worth $18,225,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Deep Track Capital LP purchased a new position in shares of Protagonist Therapeutics in the fourth quarter valued at about $38,600,000. Wellington Management Group LLP increased its position in shares of Protagonist Therapeutics by 3,025.4% in the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company's stock valued at $36,287,000 after acquiring an additional 909,998 shares during the period. American Century Companies Inc. increased its position in shares of Protagonist Therapeutics by 61.5% in the fourth quarter. American Century Companies Inc. now owns 928,286 shares of the company's stock valued at $35,832,000 after acquiring an additional 353,511 shares during the period. Toronto Dominion Bank purchased a new position in shares of Protagonist Therapeutics in the fourth quarter valued at about $13,162,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Protagonist Therapeutics in the fourth quarter valued at about $11,708,000. 98.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PTGX has been the topic of several analyst reports. Citigroup initiated coverage on shares of Protagonist Therapeutics in a research note on Tuesday, June 17th. They issued a "buy" rating and a $72.00 target price on the stock. Wedbush reissued an "outperform" rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a report on Friday, March 28th. Wall Street Zen raised shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $80.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Two 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.10.

Protagonist Therapeutics Trading Down 0.4%

Shares of Protagonist Therapeutics stock traded down $0.23 during mid-day trading on Tuesday, hitting $54.99. 680,283 shares of the stock were exchanged, compared to its average volume of 841,697. Protagonist Therapeutics, Inc. has a twelve month low of $32.50 and a twelve month high of $60.60. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 73.32 and a beta of 2.26. The company has a 50-day simple moving average of $51.29 and a 200 day simple moving average of $45.69.

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, 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 for the quarter, compared to analyst estimates of $30.44 million. Equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 10,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total value of $570,300.00. Following the completion of the transaction, the insider owned 83,892 shares of the company's stock, valued at $4,784,360.76. The trade was a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.90% of the stock is owned by company 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.