Northwestern Mutual Wealth Management Co. Purchases New Shares in Protagonist Therapeutics, Inc. $PTGX

Key Points

• Northwestern Mutual Wealth Management acquired 48,894 Protagonist Therapeutics shares worth approximately $5.99 million, while institutional investors and hedge funds collectively own 98.63% of the company.
• Protagonist reported quarterly EPS of $2.29, slightly exceeding estimates, and revenue of $213.47 million, up 3,746.8% year over year. Shares opened at $154.32, near their 52-week high of $160.81.
• Analysts maintain a broadly positive outlook, with a “Moderate Buy” consensus and an average price target of $140.53, while insiders have sold 127,000 shares worth $17.82 million over the past 90 days.

Northwestern Mutual Wealth Management Co. acquired a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 48,894 shares of the company's stock, valued at approximately $5,993,000. Northwestern Mutual Wealth Management Co. owned approximately 0.08% of Protagonist Therapeutics at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PTGX. Farther Finance Advisors LLC increased its position in shares of Protagonist Therapeutics by 110.6% during the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock worth $26,000 after acquiring an additional 156 shares during the last quarter. Greenline Wealth Management LLC purchased a new position in Protagonist Therapeutics in the fourth quarter valued at about $27,000. Keating Financial Advisory Services Inc. purchased a new position in Protagonist Therapeutics in the second quarter valued at about $30,000. Allworth Financial LP acquired a new stake in Protagonist Therapeutics during the 2nd quarter valued at approximately $31,000. Finally, Quantbot Technologies LP acquired a new stake in Protagonist Therapeutics during the 2nd quarter valued at approximately $42,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Stock Performance

Shares of PTGX opened at $154.32 on Monday. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 149.83 and a beta of 1.78. The stock has a 50 day moving average of $134.70 and a 200-day moving average of $110.35. Protagonist Therapeutics, Inc. has a 52 week low of $54.50 and a 52 week high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.27 by $0.02. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The business had revenue of $213.47 million during the quarter, compared to analyst estimates of $212.03 million. The company's quarterly revenue was up 3746.8% compared to the same quarter last year. On average, sell-side analysts predict that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PTGX shares. Wolfe Research started coverage on Protagonist Therapeutics in a research report on Thursday, May 21st. They issued an "outperform" rating and a $135.00 target price on the stock. BMO Capital Markets raised their price target on shares of Protagonist Therapeutics from $112.00 to $178.00 and gave the stock an "outperform" rating in a research report on Monday, August 17th. Barclays lifted their price target on shares of Protagonist Therapeutics from $151.00 to $153.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. UBS Group raised shares of Protagonist Therapeutics to a "buy" rating in a report on Monday, August 10th. Finally, Wedbush increased their price objective on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $140.53.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 9,000 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the sale, the director owned 7,825 shares in the company, valued at approximately $922,880.50. The trade was a 53.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 34,239 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $148.52, for a total transaction of $5,085,176.28. Following the sale, the chief executive officer directly owned 523,478 shares of the company's stock, valued at $77,746,952.56. This represents a 6.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 127,000 shares of company stock valued at $17,818,139. 5.19% of the stock is currently owned by company insiders.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc NASDAQ: PTGX is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist's approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn's disease.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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