New York State Teachers Retirement System Grows Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

New York State Teachers Retirement System raised its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 90.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,855 shares of the company's stock after purchasing an additional 22,263 shares during the period. New York State Teachers Retirement System owned about 0.08% of Protagonist Therapeutics worth $2,266,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PTGX. Deep Track Capital LP acquired a new stake in Protagonist Therapeutics in the fourth quarter valued at approximately $38,600,000. Wellington Management Group LLP grew its holdings in Protagonist Therapeutics by 3,025.4% in the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company's stock valued at $36,287,000 after purchasing an additional 909,998 shares during the period. American Century Companies Inc. grew its holdings in Protagonist Therapeutics by 61.5% in the fourth quarter. American Century Companies Inc. now owns 928,286 shares of the company's stock valued at $35,832,000 after purchasing an additional 353,511 shares during the period. Toronto Dominion Bank acquired a new stake in Protagonist Therapeutics in the fourth quarter valued at approximately $13,162,000. Finally, Raymond James Financial Inc. acquired a new stake in Protagonist Therapeutics in the fourth quarter valued at approximately $11,708,000. 98.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Ratings Changes

Several brokerages recently commented on PTGX. Wedbush reiterated an "outperform" rating and set a $70.00 price target on shares of Protagonist Therapeutics in a research report on Friday, March 28th. HC Wainwright restated a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Citigroup assumed coverage on Protagonist Therapeutics in a report on Tuesday, June 17th. They issued a "buy" rating and a $72.00 target price for the company. Wall Street Zen upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. Finally, BMO Capital Markets upped their target price on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.10.

Protagonist Therapeutics Stock Performance

Shares of Protagonist Therapeutics stock traded up $2.59 during trading hours on Wednesday, hitting $52.29. The company's stock had a trading volume of 665,112 shares, compared to its average volume of 841,384. Protagonist Therapeutics, Inc. has a twelve month low of $32.50 and a twelve month high of $60.60. The firm has a fifty day moving average of $49.60 and a 200-day moving average of $44.79. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 69.72 and a beta of 2.26.

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

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.