Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Holdings Increased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 2.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,095 shares of the company's stock after purchasing an additional 9,286 shares during the period. Principal Financial Group Inc. owned about 0.57% of Protagonist Therapeutics worth $16,786,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Protagonist Therapeutics by 36.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 216,069 shares of the company's stock worth $8,340,000 after purchasing an additional 58,002 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Protagonist Therapeutics by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 578,409 shares of the company's stock worth $22,327,000 after purchasing an additional 12,906 shares during the last quarter. GAMMA Investing LLC grew its stake 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 worth $58,000 after purchasing an additional 728 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Protagonist Therapeutics by 84.1% in the 4th quarter. Victory Capital Management Inc. now owns 240,817 shares of the company's stock worth $9,296,000 after purchasing an additional 110,020 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of Protagonist Therapeutics by 18.7% in the 4th quarter. Teacher Retirement System of Texas now owns 13,099 shares of the company's stock worth $506,000 after purchasing an additional 2,067 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company's stock.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $53.00 on Friday. The stock has a market cap of $3.28 billion, a P/E ratio of 70.67 and a beta of 2.26. The firm has a 50 day simple moving average of $50.03 and a 200 day simple moving average of $45.02. Protagonist Therapeutics, Inc. has a 52 week low of $32.50 and a 52 week high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.31. The business had revenue of $28.32 million during the quarter, compared to analysts' expectations of $30.44 million. Protagonist Therapeutics had a net margin of 27.04% and a return on equity of 9.22%. Sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

PTGX has been the topic of several recent research reports. Citigroup initiated coverage on shares of Protagonist Therapeutics in a research note on Tuesday, June 17th. They issued a "buy" rating and a $72.00 price objective on the stock. Wall Street Zen raised shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. Finally, Wedbush reissued an "outperform" rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.10.

Insider Activity at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total transaction of $570,300.00. Following the completion of the sale, the insider directly owned 83,892 shares in the company, valued at approximately $4,784,360.76. This trade represents a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Asif Ali sold 1,756 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total transaction of $80,776.00. Following the sale, the chief financial officer owned 61,065 shares of the company's stock, valued at approximately $2,808,990. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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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