Protagonist Therapeutics, Inc. $PTGX Shares Bought by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue increased its stake in Protagonist Therapeutics by 11.8%, owning approximately 36,906 shares valued at $2,039,000.
• Insider selling occurred with Director William D. Waddill selling 4,000 shares and CEO Dinesh V. Ph D. Patel selling 10,415 shares, indicating significant transactions by company executives.
• Protagonist Therapeutics' stock is currently trading at $64.98, with analysts giving it a consensus rating of "Buy" and an average target price of $68.36.

State of Alaska Department of Revenue raised its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 11.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,906 shares of the company's stock after buying an additional 3,883 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Protagonist Therapeutics worth $2,039,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PTGX. GAMMA Investing LLC boosted its holdings in Protagonist Therapeutics by 12,147.8% in the 1st quarter. GAMMA Investing LLC now owns 58,177 shares of the company's stock worth $2,813,000 after buying an additional 57,702 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Protagonist Therapeutics by 2,572.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 27,392 shares of the company's stock worth $1,325,000 after buying an additional 26,367 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Protagonist Therapeutics by 90.5% in the 1st quarter. New York State Teachers Retirement System now owns 46,855 shares of the company's stock worth $2,266,000 after buying an additional 22,263 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Protagonist Therapeutics by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 347,095 shares of the company's stock worth $16,786,000 after purchasing an additional 9,286 shares in the last quarter. Finally, Moody Aldrich Partners LLC lifted its stake in Protagonist Therapeutics by 142.5% in the 1st quarter. Moody Aldrich Partners LLC now owns 163,483 shares of the company's stock worth $7,906,000 after purchasing an additional 96,068 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 4,000 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $64.25, for a total value of $257,000.00. Following the sale, the director owned 5,130 shares of the company's stock, valued at $329,602.50. The trade was a 43.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $54.78, for a total value of $570,533.70. Following the sale, the chief executive officer directly owned 520,603 shares in the company, valued at $28,518,632.34. This represents a 1.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 70,859 shares of company stock worth $3,944,577. 4.90% of the stock is owned by corporate insiders.

Protagonist Therapeutics Stock Up 1.5%

Shares of NASDAQ PTGX opened at $64.98 on Friday. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 92.83 and a beta of 2.20. Protagonist Therapeutics, Inc. has a 52-week low of $33.31 and a 52-week high of $68.26. The business's 50 day moving average is $58.38 and its two-hundred day moving average is $52.39.

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 analysts' consensus estimates of ($0.53) by ($0.02). The firm had revenue of $5.55 million during the quarter, compared to analysts' expectations of $8.32 million. Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. Analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PTGX. Wall Street Zen raised shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. JMP Securities raised their target price on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Leerink Partners began coverage on shares of Protagonist Therapeutics in a research note on Friday, September 12th. They issued an "outperform" rating and a $73.00 target price on the stock. HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, September 17th. Finally, Leerink Partnrs raised shares of Protagonist Therapeutics to a "strong-buy" rating in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $68.36.

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.

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