Northern Trust Corp Increases Position in Protagonist Therapeutics, Inc. $PTGX

Key Points

• Northern Trust Corp increased its holdings in Protagonist Therapeutics by 1.7%, acquiring an additional 10,927 shares, bringing its total ownership to approximately $30.9 million.
• Protagonist Therapeutics' stock reached $59.05, with a market cap of $3.67 billion and a P/E ratio of 84.36.
• Analysts have largely rated Protagonist Therapeutics positively, with a consensus rating of "Buy" and a price target averaging $67.20.

Northern Trust Corp boosted its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 639,507 shares of the company's stock after buying an additional 10,927 shares during the period. Northern Trust Corp owned approximately 1.03% of Protagonist Therapeutics worth $30,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in PTGX. GF Fund Management CO. LTD. increased its holdings in shares of Protagonist Therapeutics by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 1,526 shares of the company's stock valued at $74,000 after acquiring an additional 275 shares in the last quarter. Covestor Ltd raised its holdings in shares of Protagonist Therapeutics by 27.0% in the first quarter. Covestor Ltd now owns 2,087 shares of the company's stock worth $101,000 after buying an additional 444 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Protagonist Therapeutics by 38.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,992 shares of the company's stock worth $96,000 after buying an additional 551 shares during the period. GAMMA Investing LLC increased its position in shares of Protagonist Therapeutics by 153.3% in the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock valued at $58,000 after acquiring an additional 728 shares during the period. Finally, State of Wyoming lifted its position in Protagonist Therapeutics by 11.9% during the 4th quarter. State of Wyoming now owns 7,832 shares of the company's stock worth $302,000 after acquiring an additional 832 shares during the period. Institutional investors and hedge funds own 98.63% of the company's stock.

Protagonist Therapeutics Stock Performance

Shares of PTGX traded down $1.19 during trading hours on Wednesday, hitting $57.66. 562,466 shares of the stock were exchanged, compared to its average volume of 921,587. The stock's 50-day moving average price is $54.80 and its two-hundred day moving average price is $49.59. Protagonist Therapeutics, Inc. has a 12-month low of $33.31 and a 12-month high of $61.89. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 82.37 and a beta of 2.22.

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

Insider Buying and Selling

In other news, Director William D. Waddill sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $59.25, for a total transaction of $237,000.00. Following the completion of the sale, the director owned 9,130 shares in the company, valued at $540,952.50. This trade represents a 30.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the chief executive officer directly owned 548,538 shares in the company, valued at approximately $30,197,016.90. The trade was a 3.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,859 shares of company stock worth $4,257,877. 4.90% of the stock is owned by insiders.

Analysts Set New Price Targets

PTGX has been the subject of several research reports. Citigroup restated an "outperform" rating on shares of Protagonist Therapeutics in a research note on Thursday, August 7th. JMP Securities upped their price objective on Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $67.20.

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.