Northern Trust Corp Raises Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Northern Trust Corp grew its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 628,580 shares of the company's stock after buying an additional 48,491 shares during the quarter. Northern Trust Corp owned 1.05% of Protagonist Therapeutics worth $24,263,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PTGX. Wellington Management Group LLP grew its holdings in shares of Protagonist Therapeutics by 3,025.4% during the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company's stock valued at $36,287,000 after buying an additional 909,998 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Protagonist Therapeutics by 61.5% during the fourth quarter. American Century Companies Inc. now owns 928,286 shares of the company's stock valued at $35,832,000 after buying an additional 353,511 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Protagonist Therapeutics by 3,099.4% during the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company's stock valued at $14,437,000 after buying an additional 310,804 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Protagonist Therapeutics during the fourth quarter valued at approximately $11,708,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Protagonist Therapeutics by 3,962.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 296,511 shares of the company's stock valued at $11,445,000 after buying an additional 289,213 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BTIG Research set a $73.00 price objective on shares of Protagonist Therapeutics in a research report on Monday, March 3rd. Truist Financial increased their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. JPMorgan Chase & Co. increased their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Wedbush restated an "outperform" rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Finally, BMO Capital Markets increased their price objective on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Protagonist Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $65.44.

Insider Activity

In other news, CFO Asif Ali sold 1,756 shares of the firm's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total transaction of $80,776.00. Following the sale, the chief financial officer now directly owns 61,065 shares in the company, valued at $2,808,990. This trade represents a 2.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the transaction, the chief executive officer now directly owns 540,260 shares of the company's stock, valued at $20,627,126.80. The trade was a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,532 shares of company stock worth $3,665,786 in the last three months. Company insiders own 4.90% of the company's stock.

Protagonist Therapeutics Stock Up 0.2%

PTGX traded up $0.08 during trading on Friday, hitting $44.49. The company's stock had a trading volume of 647,034 shares, compared to its average volume of 877,339. Protagonist Therapeutics, Inc. has a one year low of $27.00 and a one year high of $60.60. The firm has a market cap of $2.76 billion, a PE ratio of 16.73 and a beta of 2.65. The business's 50 day simple moving average is $46.77 and its 200-day simple moving average is $42.57.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.31. The firm had revenue of $28.32 million for the quarter, compared to the consensus estimate of $30.44 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Equities research analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

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.