Nuveen Asset Management LLC Reduces Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Nuveen Asset Management LLC lowered its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 34.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 151,197 shares of the company's stock after selling 80,877 shares during the period. Nuveen Asset Management LLC owned 0.25% of Protagonist Therapeutics worth $5,836,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Covestor Ltd boosted its position in Protagonist Therapeutics by 5,200.0% during the fourth quarter. Covestor Ltd now owns 1,643 shares of the company's stock valued at $63,000 after acquiring an additional 1,612 shares during 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 acquired a new position in shares of Protagonist Therapeutics in the 4th quarter valued at about $118,000. Nisa Investment Advisors LLC boosted its position in shares of Protagonist Therapeutics by 10.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company's stock valued at $121,000 after purchasing an additional 295 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $211,000. 98.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Monday, February 24th. JPMorgan Chase & Co. upped their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Truist Financial boosted their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Wall Street Zen cut shares of Protagonist Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, BTIG Research set a $73.00 price target on Protagonist Therapeutics in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $65.44.

Insider Activity

In related news, CFO Asif Ali sold 24,903 shares of Protagonist Therapeutics stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $58.73, for a total value of $1,462,553.19. Following the transaction, the chief financial officer now directly owns 62,821 shares of the company's stock, valued at $3,689,477.33. The trade was a 28.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Waddill sold 4,000 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $54.25, for a total transaction of $217,000.00. Following the sale, the director now owns 13,130 shares of the company's stock, valued at $712,302.50. This represents a 23.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,173 shares of company stock valued at $3,461,180. 4.90% of the stock is currently owned by insiders.

Protagonist Therapeutics Trading Up 0.4%

Shares of Protagonist Therapeutics stock traded up $0.23 on Wednesday, hitting $51.29. 100,661 shares of the company traded hands, compared to its average volume of 998,077. Protagonist Therapeutics, Inc. has a 12-month low of $28.96 and a 12-month high of $60.60. The company has a market cap of $3.18 billion, a P/E ratio of 19.29 and a beta of 2.65. The firm's 50-day simple moving average is $45.29 and its 200 day simple moving average is $42.74.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.50) by $0.31. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $28.32 million for the quarter, compared to the consensus estimate of $30.44 million. Analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

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.