Algert Global LLC Cuts Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Algert Global LLC trimmed its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 84.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,720 shares of the company's stock after selling 97,959 shares during the period. Algert Global LLC's holdings in Protagonist Therapeutics were worth $684,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP raised its stake in Protagonist Therapeutics by 3,025.4% during the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company's stock worth $36,287,000 after purchasing an additional 909,998 shares during the period. American Century Companies Inc. boosted its stake in shares of Protagonist Therapeutics by 61.5% in the fourth quarter. American Century Companies Inc. now owns 928,286 shares of the company's stock valued at $35,832,000 after purchasing an additional 353,511 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Protagonist Therapeutics by 3,099.4% in the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company's stock valued at $14,437,000 after purchasing an additional 310,804 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $11,708,000. Finally, Pictet Asset Management Holding SA lifted its stake in Protagonist Therapeutics by 3,962.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 296,511 shares of the company's stock worth $11,445,000 after acquiring an additional 289,213 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PTGX. Truist Financial lifted their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. BMO Capital Markets lifted their price target on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a research note on Monday, March 3rd. The Goldman Sachs Group decreased their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $65.44.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 24,903 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $58.73, for a total transaction of $1,462,553.19. Following the sale, the chief financial officer now directly owns 62,821 shares in the company, valued at approximately $3,689,477.33. The trade was a 28.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the sale, the chief executive officer now owns 540,260 shares in the company, 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. In the last three months, insiders have sold 66,532 shares of company stock valued at $3,665,786. 5.40% of the stock is owned by company insiders.

Protagonist Therapeutics Trading Up 0.2%

Shares of Protagonist Therapeutics stock traded up $0.11 during trading on Friday, reaching $44.52. The company's stock had a trading volume of 154,011 shares, compared to its average volume of 1,023,232. The company has a 50-day moving average price of $47.07 and a two-hundred day moving average price of $42.65. The firm has a market cap of $2.76 billion, a PE ratio of 16.73 and a beta of 2.65. Protagonist Therapeutics, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $60.60.

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

Protagonist Therapeutics Company 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.