Man Group plc Acquires 102,132 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Man Group plc boosted its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 182.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,963 shares of the company's stock after purchasing an additional 102,132 shares during the period. Man Group plc owned about 0.27% of Protagonist Therapeutics worth $6,097,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Covestor Ltd increased its holdings in 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 in the last quarter. KBC Group NV lifted its stake in shares of Protagonist Therapeutics by 54.4% in the 4th quarter. KBC Group NV now owns 2,093 shares of the company's stock valued at $81,000 after purchasing an additional 737 shares during the period. New Vernon Capital Holdings II LLC bought a new position in shares of Protagonist Therapeutics during the 4th quarter worth approximately $118,000. Nisa Investment Advisors LLC boosted its stake in Protagonist Therapeutics by 10.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company's stock worth $121,000 after acquiring an additional 295 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of Protagonist Therapeutics during the 4th quarter worth about $211,000. Institutional investors and hedge funds own 98.63% of the company's stock.

Analyst Upgrades and Downgrades

PTGX has been the topic of a number of recent research reports. BTIG Research set a $73.00 target price on Protagonist Therapeutics in a report on Monday, March 3rd. Wedbush reiterated an "outperform" rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a research note on Friday, March 28th. The Goldman Sachs Group cut their target price on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a research report on Monday, February 24th. Truist Financial increased their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.44.

Protagonist Therapeutics Price Performance

PTGX stock traded down $0.25 during mid-day trading on Monday, hitting $45.66. 486,198 shares of the stock were exchanged, compared to its average volume of 881,795. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 17.17 and a beta of 2.65. The business has a fifty day moving average price of $45.86 and a 200 day moving average price of $42.53. Protagonist Therapeutics, Inc. has a 12 month low of $27.00 and a 12 month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its earnings results 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. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The company had revenue of $28.32 million during the quarter, compared to analysts' expectations of $30.44 million. As a group, equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction of $1,700,850.36. Following the sale, the insider now directly owns 83,892 shares in the company, valued at $4,676,140.08. The trade was a 26.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Asif Ali sold 24,903 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total transaction of $1,462,553.19. Following the completion of the sale, the chief financial officer now directly owns 62,821 shares in the company, valued at $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 61,173 shares of company stock valued at $3,461,180 over the last quarter. 4.90% of the stock is owned by company insiders.

About Protagonist Therapeutics

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.