State of New Jersey Common Pension Fund D Purchases Shares of 53,736 Protagonist Therapeutics, Inc. $PTGX

Key Points

• The State of New Jersey Common Pension Fund D purchased 53,736 shares of Protagonist Therapeutics, Inc. for approximately $2.6 million, representing a 0.09% ownership stake in the company.
• Multiple institutional investors have increased their positions in Protagonist Therapeutics, with GAMMA Investing LLC raising its stake by 153.3% during the first quarter.
• Analysts generally favor the stock, with an average rating of "Buy" and a price target around $67.20, despite the company recently reporting a quarterly earnings miss.

State of New Jersey Common Pension Fund D bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 53,736 shares of the company's stock, valued at approximately $2,599,000. State of New Jersey Common Pension Fund D owned approximately 0.09% of Protagonist Therapeutics at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Protagonist Therapeutics by 153.3% during the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock worth $58,000 after purchasing an additional 728 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Protagonist Therapeutics during the fourth quarter worth $48,000. PNC Financial Services Group Inc. lifted its position in shares of Protagonist Therapeutics by 38.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,992 shares of the company's stock worth $96,000 after purchasing an additional 551 shares in the last quarter. Covestor Ltd lifted its position in shares of Protagonist Therapeutics by 27.0% during the first quarter. Covestor Ltd now owns 2,087 shares of the company's stock worth $101,000 after purchasing an additional 444 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new position in shares of Protagonist Therapeutics during the first quarter worth $117,000. 98.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Citigroup reissued an "outperform" rating on shares of Protagonist Therapeutics in a research report on Thursday, August 7th. HC Wainwright reissued a "buy" rating and set a $80.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. JMP Securities lifted their price target 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. Finally, Wall Street Zen upgraded shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $67.20.

Protagonist Therapeutics Price Performance

PTGX stock opened at $56.04 on Friday. Protagonist Therapeutics, Inc. has a 1-year low of $33.31 and a 1-year high of $60.60. The firm has a fifty day moving average price of $54.13 and a two-hundred day moving average price of $48.39. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 80.06 and a beta of 2.33.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. The business had revenue of $5.55 million for the quarter, compared to the consensus estimate of $8.32 million. As a group, analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 10,000 shares of the business's stock in a transaction 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 owned 83,892 shares in the company, valued at $4,784,360.76. The trade was a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $54.78, for a total transaction of $570,533.70. Following the sale, the chief executive officer owned 520,603 shares of the company's stock, valued at approximately $28,518,632.34. The trade was a 1.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,859 shares of company stock valued at $4,020,877. 4.90% of the stock is owned by insiders.

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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