The Manufacturers Life Insurance Company Purchases 14,478 Shares of Protagonist Therapeutics, Inc. $PTGX

The Manufacturers Life Insurance Company boosted its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,818 shares of the company's stock after buying an additional 14,478 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.20% of Protagonist Therapeutics worth $13,472,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PTGX. Janus Henderson Group PLC grew its holdings in Protagonist Therapeutics by 140.7% during the 4th quarter. Janus Henderson Group PLC now owns 2,649,981 shares of the company's stock worth $231,355,000 after acquiring an additional 1,549,160 shares during the period. Wellington Management Group LLP lifted its stake in shares of Protagonist Therapeutics by 66.2% in the 4th quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company's stock valued at $276,992,000 after purchasing an additional 1,262,977 shares during the period. Vanguard Group Inc. lifted its stake in shares of Protagonist Therapeutics by 27.2% in the 4th quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company's stock valued at $472,832,000 after purchasing an additional 1,156,461 shares during the period. Marshall Wace LLP bought a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at about $72,114,000. Finally, Commodore Capital LP bought a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at about $59,415,000. Institutional investors own 98.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PTGX. Wolfe Research started coverage on Protagonist Therapeutics in a report on Thursday, May 21st. They issued an "outperform" rating and a $135.00 target price for the company. Truist Financial increased their price target on Protagonist Therapeutics from $121.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Citizens Jmp raised their price objective on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a "market outperform" rating in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Protagonist Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 8th. Finally, Wedbush boosted their target price on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $123.00.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director Bryan Giraudo sold 6,000 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $100.00, for a total value of $600,000.00. Following the completion of the transaction, the director owned 31,825 shares in the company, valued at $3,182,500. This trade represents a 15.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the completion of the transaction, the chief executive officer owned 523,478 shares of the company's stock, valued at $52,410,617.36. This trade represents a 12.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 161,130 shares of company stock valued at $16,355,220. 5.19% of the stock is owned by company insiders.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $136.64 on Monday. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of -75.49 and a beta of 1.79. Protagonist Therapeutics, Inc. has a one year low of $50.49 and a one year high of $143.29. The business has a 50-day simple moving average of $120.38 and a 200 day simple moving average of $103.39.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The firm had revenue of $56.37 million during the quarter, compared to the consensus estimate of $11.70 million. On average, sell-side analysts expect that Protagonist Therapeutics, Inc. will post 3.69 EPS for the current year.

Protagonist Therapeutics Company Profile

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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