Charles Schwab Investment Management Inc. Sells 20,691 Shares of Protagonist Therapeutics, Inc. $PTGX

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Protagonist Therapeutics by 3.6%, selling 20,691 shares to hold 557,718 shares valued at approximately $26.97 million.
• Insider transactions include Arturo Md Molina selling 10,000 shares and CEO Dinesh V. Patel disposing of 22,065 shares, representing decreases in their holdings.
• Protagonist Therapeutics' stock received positive ratings from analysts, with target price upgrades leading to a new average target price of $67.20 and a consensus rating of "Buy."

Charles Schwab Investment Management Inc. trimmed its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 557,718 shares of the company's stock after selling 20,691 shares during the period. Charles Schwab Investment Management Inc. owned 0.90% of Protagonist Therapeutics worth $26,971,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PTGX. GF Fund Management CO. LTD. bought a new stake in Protagonist Therapeutics in the fourth quarter worth approximately $48,000. GAMMA Investing LLC grew its position in Protagonist Therapeutics by 153.3% in the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock worth $58,000 after acquiring an additional 728 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Protagonist Therapeutics by 38.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,992 shares of the company's stock worth $96,000 after acquiring an additional 551 shares in the last quarter. Penserra Capital Management LLC bought a new stake in Protagonist Therapeutics in the first quarter worth approximately $117,000. Finally, New Vernon Capital Holdings II LLC bought a new stake in Protagonist Therapeutics in the fourth quarter worth approximately $118,000. 98.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Arturo Md Molina sold 10,000 shares of the 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 in the company, valued at approximately $4,784,360.76. This represents a 10.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $55.05, for a total transaction of $1,214,678.25. Following the completion of the transaction, the chief executive officer owned 548,538 shares of the company's stock, valued at approximately $30,197,016.90. This represents a 3.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,859 shares of company stock valued at $4,020,877. Corporate insiders own 4.90% of the company's stock.

Wall Street Analyst Weigh In

PTGX has been the subject of several recent research reports. JMP Securities boosted their target price on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Finally, Citigroup reaffirmed an "outperform" rating on shares of Protagonist Therapeutics in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Protagonist Therapeutics has a consensus rating of "Buy" and a consensus target price of $67.20.

Protagonist Therapeutics Price Performance

NASDAQ:PTGX opened at $56.23 on Thursday. The stock has a market cap of $3.50 billion, a P/E ratio of 80.33 and a beta of 2.33. Protagonist Therapeutics, Inc. has a one year low of $33.31 and a one year high of $60.60. The company has a fifty day moving average price of $54.13 and a 200 day moving average price of $48.26.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.02). The company had revenue of $5.55 million for the quarter, compared to analyst estimates of $8.32 million. Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. As a group, equities research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

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.

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