Protagonist Therapeutics, Inc. $PTGX Shares Acquired by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Protagonist Therapeutics stake by 22.2% in the first quarter, bringing its holdings to 58,677 shares valued at approximately $6.2 million. Institutional investors collectively own 98.63% of the company.
• Company insiders sold 113,130 shares worth approximately $11.5 million over the past 90 days, including sales by CEO Dinesh Patel and Director William Waddill.
• Analysts maintain a generally bullish outlook, with a consensus “Moderate Buy” rating and a $123 price target. Protagonist reported quarterly EPS of $2.29, beating estimates, while revenue reached $213.47 million, up sharply year over year.

California State Teachers Retirement System increased its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 22.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,677 shares of the company's stock after buying an additional 10,644 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Protagonist Therapeutics worth $6,185,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in shares of Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock worth $26,000 after acquiring an additional 156 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Protagonist Therapeutics by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,393 shares of the company's stock valued at $1,170,000 after purchasing an additional 193 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of Protagonist Therapeutics by 2.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 8,603 shares of the company's stock valued at $751,000 after buying an additional 196 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Protagonist Therapeutics by 7.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,760 shares of the company's stock worth $291,000 after purchasing an additional 200 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Protagonist Therapeutics by 8.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,959 shares of the company's stock worth $258,000 after buying an additional 221 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company's stock.

Insider Activity

In other Protagonist Therapeutics news, Director William D. Waddill sold 9,000 shares of the 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 completion of the transaction, the director owned 7,825 shares in the company, valued at approximately $922,880.50. This represents a 53.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the transaction, the chief executive officer owned 523,478 shares of the company's stock, valued at approximately $52,410,617.36. The trade was a 12.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 113,130 shares of company stock worth $11,549,340 in the last 90 days. Corporate insiders own 5.19% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PTGX shares. Barclays raised their target price on Protagonist Therapeutics from $119.00 to $151.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Citigroup reiterated an "outperform" rating on shares of Protagonist Therapeutics in a research report on Friday, July 17th. TD Cowen reissued a "buy" rating on shares of Protagonist Therapeutics in a research report on Wednesday, July 1st. Wedbush boosted their target price on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Finally, Johnson Rice set a $165.00 target price on shares of Protagonist Therapeutics in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.

Protagonist Therapeutics Trading Up 1.1%

Shares of NASDAQ:PTGX opened at $137.32 on Thursday. Protagonist Therapeutics, Inc. has a 1-year low of $50.49 and a 1-year high of $143.29. The stock has a market capitalization of $8.83 billion, a P/E ratio of -75.87 and a beta of 1.78. The business has a 50-day moving average price of $122.46 and a two-hundred day moving average price of $104.48.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $2.24 by $0.05. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The business had revenue of $213.47 million during the quarter, compared to the consensus estimate of $199.81 million. The company's quarterly revenue was up 3746.8% compared to the same quarter last year. As a group, equities analysts predict that Protagonist Therapeutics, Inc. will post 3.69 EPS for the current year.

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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