Jennison Associates LLC Makes New Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Jennison Associates LLC bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,317 shares of the company's stock, valued at approximately $886,000.

Other large investors have also bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new stake in Protagonist Therapeutics during the 4th quarter worth about $48,000. GAMMA Investing LLC grew its holdings in Protagonist Therapeutics by 153.3% during the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock worth $58,000 after acquiring an additional 728 shares during the period. Covestor Ltd grew its holdings 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 period. Penserra Capital Management LLC acquired a new stake in Protagonist Therapeutics during the 1st quarter worth about $117,000. Finally, New Vernon Capital Holdings II LLC acquired a new stake in Protagonist Therapeutics during the 4th quarter worth about $118,000. 98.63% of the stock is owned by institutional investors.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 22,065 shares of Protagonist Therapeutics stock in a transaction that occurred 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 transaction, the chief executive officer owned 548,538 shares of the company's stock, valued at $30,197,016.90. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Arturo Md Molina sold 10,000 shares of Protagonist Therapeutics 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 transaction, the insider directly owned 83,892 shares in the company, valued at approximately $4,784,360.76. This represents a 10.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,444 shares of company stock valued at $3,450,344 in the last quarter. Company insiders own 4.90% of the company's stock.

Protagonist Therapeutics Stock Up 2.6%

PTGX stock traded up $1.41 during mid-day trading on Friday, reaching $55.15. 490,995 shares of the company traded hands, compared to its average volume of 765,993. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 73.53 and a beta of 2.26. Protagonist Therapeutics, Inc. has a fifty-two week low of $32.50 and a fifty-two week high of $60.60. The firm's 50 day moving average price is $52.31 and its 200 day moving average price is $46.15.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.31. The business had revenue of $28.32 million during the quarter, compared to the consensus estimate of $30.44 million. Protagonist Therapeutics had a return on equity of 9.22% and a net margin of 27.04%. On average, analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PTGX shares. Citigroup started coverage on Protagonist Therapeutics in a report on Tuesday, June 17th. They set a "buy" rating and a $72.00 price target for the company. Wall Street Zen upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. Wedbush restated an "outperform" rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Finally, HC Wainwright restated a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $66.10.

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.