Hennion & Walsh Asset Management Inc. Sells 6,008 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Hennion & Walsh Asset Management Inc. decreased its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 18.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 26,066 shares of the company's stock after selling 6,008 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Protagonist Therapeutics were worth $1,261,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new stake in Protagonist Therapeutics during the 4th quarter worth $48,000. Covestor Ltd grew its position in Protagonist Therapeutics by 5,200.0% during the 4th quarter. Covestor Ltd now owns 1,643 shares of the company's stock worth $63,000 after acquiring an additional 1,612 shares during the last quarter. KBC Group NV grew its position in Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company's stock worth $81,000 after acquiring an additional 737 shares during the last quarter. New Vernon Capital Holdings II LLC bought a new stake in Protagonist Therapeutics during the 4th quarter worth $118,000. Finally, Cibc World Markets Corp bought a new stake in Protagonist Therapeutics during the 4th quarter worth $211,000. Institutional investors own 98.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PTGX shares. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research report on Monday, March 3rd. Wedbush restated an "outperform" rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, March 28th. BMO Capital Markets lifted their target price on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a report on Tuesday, March 11th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 target price on shares of Protagonist Therapeutics in a report on Tuesday. Finally, Wall Street Zen downgraded Protagonist Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Protagonist Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $65.44.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $54.38 on Friday. The company has a market cap of $3.37 billion, a P/E ratio of 20.44 and a beta of 2.65. Protagonist Therapeutics, Inc. has a fifty-two week low of $30.67 and a fifty-two week high of $60.60. The stock's 50 day simple moving average is $45.60 and its 200 day simple moving average is $43.01.

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, beating the consensus estimate of ($0.50) by $0.31. The business had revenue of $28.32 million during the quarter, compared to analyst estimates of $30.44 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. Equities analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 30,514 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the transaction, the insider now owns 83,892 shares in the company, valued at approximately $4,676,140.08. This represents a 26.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Asif Ali sold 24,903 shares of the stock in a transaction on Wednesday, March 12th. The shares were 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 owns 62,821 shares in the company, valued at approximately $3,689,477.33. This represents a 28.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,173 shares of company stock valued at $3,461,180 over the last 90 days. Insiders own 4.90% of the company's stock.

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.

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