Illinois Municipal Retirement Fund Decreases Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Illinois Municipal Retirement Fund decreased its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 41.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,509 shares of the company's stock after selling 14,000 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Protagonist Therapeutics were worth $943,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Protagonist Therapeutics by 153.3% in the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock valued at $58,000 after purchasing an additional 728 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Protagonist Therapeutics in the fourth quarter valued at about $48,000. Covestor Ltd raised its position in shares of Protagonist Therapeutics by 5,200.0% during the fourth 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. New Vernon Capital Holdings II LLC acquired a new position in shares of Protagonist Therapeutics in the fourth quarter worth approximately $118,000. Finally, Cibc World Markets Corp bought a new stake in Protagonist Therapeutics in the fourth quarter valued at approximately $211,000. Institutional investors own 98.63% of the company's stock.

Insider Buying and Selling

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

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX traded up $0.48 during trading on Wednesday, hitting $50.69. The company's stock had a trading volume of 1,209,144 shares, compared to its average volume of 891,944. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 67.59 and a beta of 2.26. The company has a 50-day moving average of $49.05 and a 200-day moving average of $44.44. Protagonist Therapeutics, Inc. has a 12 month low of $32.50 and a 12 month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $30.44 million. As a group, research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PTGX. Wall Street Zen raised Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. Citigroup assumed coverage on shares of Protagonist Therapeutics in a research note on Tuesday, June 17th. They issued a "buy" rating and a $72.00 price objective for the company. JPMorgan Chase & Co. boosted their target price 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. HC Wainwright restated a "buy" rating and issued a $80.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Finally, BMO Capital Markets lifted their price target 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. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $66.10.

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.