State of Wyoming Sells 6,375 Shares of Protagonist Therapeutics, Inc. $PTGX

Key Points

• The State of Wyoming has reduced its holdings in Protagonist Therapeutics by 81.4% during Q1, owning 1,457 shares valued at approximately $70,000 after selling 6,375 shares.
• In contrast, Principal Financial Group and New York State Common Retirement Fund both increased their stakes in Protagonist Therapeutics by 2.7% and 9.5%, respectively, during the same quarter.
• Protagonist Therapeutics reported a loss of ($0.55) earnings per share in its latest quarter, missing analysts' expectations, while revenue for that period was $5.55 million, lower than the consensus estimate of $8.32 million.

State of Wyoming trimmed its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 81.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,457 shares of the company's stock after selling 6,375 shares during the quarter. State of Wyoming's holdings in Protagonist Therapeutics were worth $70,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in 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 buying an additional 728 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Protagonist Therapeutics by 141.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company's stock worth $59,000 after buying an additional 710 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Protagonist Therapeutics in the 4th quarter worth about $48,000. Brooklyn Investment Group bought a new stake in Protagonist Therapeutics in the 1st quarter worth about $68,000. Finally, PNC Financial Services Group Inc. increased its holdings in Protagonist Therapeutics by 38.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,992 shares of the company's stock worth $96,000 after buying an additional 551 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors.

Protagonist Therapeutics Stock Down 1.4%

NASDAQ PTGX traded down $0.82 during trading hours on Friday, reaching $58.86. The company's stock had a trading volume of 685,841 shares, compared to its average volume of 869,797. The firm's 50-day moving average price is $55.70 and its 200-day moving average price is $50.77. Protagonist Therapeutics, Inc. has a 1 year low of $33.31 and a 1 year high of $61.89. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 84.09 and a beta of 2.22.

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

Analyst Ratings Changes

PTGX has been the subject of several research analyst reports. Leerink Partnrs upgraded Protagonist Therapeutics to a "strong-buy" rating in a report on Friday. Leerink Partners assumed coverage on Protagonist Therapeutics in a research report on Friday. They issued an "outperform" rating and a $73.00 target price 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 issued a $80.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. Finally, JMP Securities raised their target price on Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $67.73.

Insiders Place Their Bets

In related news, Director William D. Waddill sold 4,000 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $59.25, for a total value of $237,000.00. Following the completion of the transaction, the director directly owned 9,130 shares of the company's stock, valued at approximately $540,952.50. This trade represents a 30.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the firm's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $55.05, for a total transaction of $1,214,678.25. Following the completion of the transaction, the chief executive officer directly owned 548,538 shares of the company's stock, valued at approximately $30,197,016.90. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,859 shares of company stock valued at $3,687,577. 4.90% of the stock is currently owned by insiders.

About Protagonist Therapeutics

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.