New York State Teachers Retirement System Boosts Stake in Protagonist Therapeutics, Inc. $PTGX

New York State Teachers Retirement System grew its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 18.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,713 shares of the company's stock after acquiring an additional 8,858 shares during the period. New York State Teachers Retirement System owned about 0.09% of Protagonist Therapeutics worth $3,079,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Yousif Capital Management LLC boosted its holdings in Protagonist Therapeutics by 4.8% in the 2nd quarter. Yousif Capital Management LLC now owns 23,404 shares of the company's stock worth $1,294,000 after buying an additional 1,067 shares during the period. CWM LLC boosted its holdings in Protagonist Therapeutics by 201.5% in the 2nd quarter. CWM LLC now owns 609 shares of the company's stock worth $34,000 after buying an additional 407 shares during the period. Maryland State Retirement & Pension System lifted its stake in Protagonist Therapeutics by 4.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 18,216 shares of the company's stock worth $1,007,000 after purchasing an additional 818 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Protagonist Therapeutics by 3.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 29,000 shares of the company's stock worth $1,603,000 after purchasing an additional 900 shares in the last quarter. Finally, KLP Kapitalforvaltning AS lifted its stake in Protagonist Therapeutics by 19.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,400 shares of the company's stock worth $575,000 after purchasing an additional 1,700 shares in the last quarter. 98.63% of the stock is owned by institutional investors.

Protagonist Therapeutics Trading Down 2.2%

Shares of PTGX opened at $75.00 on Wednesday. The firm's 50-day moving average price is $63.41 and its 200-day moving average price is $54.51. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 107.14 and a beta of 2.20. Protagonist Therapeutics, Inc. has a 1-year low of $33.31 and a 1-year high of $93.25.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). The company had revenue of $5.55 million for the quarter, compared to the consensus estimate of $8.32 million. Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. On average, research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on PTGX shares. HC Wainwright reiterated a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, October 8th. Leerink Partnrs upgraded shares of Protagonist Therapeutics to a "strong-buy" rating in a research report on Friday, September 12th. Citigroup raised their price objective on shares of Protagonist Therapeutics from $72.00 to $96.00 and gave the company a "buy" rating in a research report on Friday. Johnson Rice set a $112.00 price objective on shares of Protagonist Therapeutics in a research report on Monday, October 13th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Protagonist Therapeutics in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.00.

Insider Transactions at Protagonist Therapeutics

In related news, Director William D. Waddill sold 12,000 shares of Protagonist Therapeutics stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $81.62, for a total transaction of $979,440.00. Following the completion of the transaction, the director directly owned 5,130 shares of the company's stock, valued at $418,710.60. This trade represents a 70.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 10,415 shares of Protagonist Therapeutics stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $54.78, for a total transaction of $570,533.70. Following the completion of the transaction, the chief executive officer directly owned 520,603 shares of the company's stock, valued at $28,518,632.34. This trade represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,415 shares of company stock worth $2,043,974 in the last ninety 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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