Hennion & Walsh Asset Management Inc. Has $1.26 Million Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Hennion & Walsh Asset Management Inc. cut its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 18.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BTIG Research set a $73.00 target price on Protagonist Therapeutics in a report on Monday, March 3rd. Truist Financial boosted their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. BMO Capital Markets upped their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $65.44.

Insiders Place Their Bets

In other news, CFO Asif Ali sold 24,903 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total value of $1,462,553.19. Following the transaction, the chief financial officer now owns 62,821 shares of the company's stock, valued at approximately $3,689,477.33. This represents a 28.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arturo Md Molina sold 30,514 shares of Protagonist Therapeutics stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $55.74, for a total value of $1,700,850.36. Following the sale, the insider now directly owns 83,892 shares of the company's stock, valued at approximately $4,676,140.08. The trade was a 26.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,173 shares of company stock valued at $3,461,180 over the last 90 days. 4.90% of the stock is currently owned by insiders.

Protagonist Therapeutics Stock Up 1.2%

Shares of NASDAQ:PTGX traded up $0.69 during midday trading on Tuesday, reaching $56.37. 1,267,341 shares of the company were exchanged, compared to its average volume of 892,183. The stock has a fifty day simple moving average of $45.95 and a two-hundred day simple moving average of $43.19. Protagonist Therapeutics, Inc. has a fifty-two week low of $30.67 and a fifty-two week high of $60.60. The firm has a market cap of $3.49 billion, a PE ratio of 21.19 and a beta of 2.25.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.31. The business had revenue of $28.32 million during the quarter, compared to analysts' expectations of $30.44 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. As a group, analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share 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.