Protagonist Therapeutics, Inc. $PTGX Shares Sold by State of Wyoming

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 reduced its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 81.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (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 institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in Protagonist Therapeutics by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 347,095 shares of the company's stock worth $16,786,000 after buying an additional 9,286 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Protagonist Therapeutics by 9.5% during the 1st quarter. New York State Common Retirement Fund now owns 19,582 shares of the company's stock worth $947,000 after buying an additional 1,700 shares in the last quarter. Royce & Associates LP acquired a new position in Protagonist Therapeutics during the 1st quarter worth $593,000. Hsbc Holdings PLC lifted its holdings in Protagonist Therapeutics by 4.1% during the 1st quarter. Hsbc Holdings PLC now owns 8,458 shares of the company's stock worth $405,000 after buying an additional 330 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Protagonist Therapeutics by 153.3% during 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. 98.63% of the stock is owned by institutional investors and hedge funds.

Protagonist Therapeutics Price Performance

NASDAQ:PTGX traded down $0.25 during trading hours on Friday, hitting $59.44. 214,503 shares of the company were exchanged, compared to its average volume of 936,051. The company's 50 day moving average price is $55.55 and its 200-day moving average price is $50.51. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 84.94 and a beta of 2.22. Protagonist Therapeutics, Inc. has a 52-week low of $33.31 and a 52-week high of $61.89.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). The company had revenue of $5.55 million for the quarter, compared to analyst estimates of $8.32 million. Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%. On average, equities analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $54.78, for a total value of $570,533.70. Following the completion of the sale, the chief executive officer owned 520,603 shares in the company, valued at $28,518,632.34. This represents a 1.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Waddill sold 4,000 shares of the business's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $59.25, for a total transaction of $237,000.00. Following the sale, the director owned 9,130 shares in the company, valued at $540,952.50. The trade was a 30.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,859 shares of company stock worth $3,687,577. 4.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PTGX has been the subject of several recent research reports. Leerink Partners initiated coverage on shares of Protagonist Therapeutics in a research report on Friday. They set an "outperform" rating and a $73.00 target price for the company. Wall Street Zen upgraded shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. HC Wainwright reiterated a "buy" rating and set a $80.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. Citigroup restated an "outperform" rating on shares of Protagonist Therapeutics in a research report on Thursday, August 7th. Finally, JMP Securities upped their price objective on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $67.73.

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.