Renaissance Technologies LLC Grows Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Renaissance Technologies LLC grew its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 53.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 221,167 shares of the company's stock after buying an additional 77,000 shares during the quarter. Renaissance Technologies LLC owned approximately 0.37% of Protagonist Therapeutics worth $8,537,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new stake in Protagonist Therapeutics in the fourth quarter valued at $38,000. KBC Group NV lifted its position in shares of Protagonist Therapeutics by 54.4% in the 4th quarter. KBC Group NV now owns 2,093 shares of the company's stock worth $81,000 after purchasing an additional 737 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Protagonist Therapeutics by 10.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company's stock valued at $121,000 after purchasing an additional 295 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of Protagonist Therapeutics during the fourth quarter valued at about $211,000. Finally, Caprock Group LLC bought a new position in Protagonist Therapeutics in the fourth quarter worth about $224,000. 98.63% of the stock is currently owned by institutional investors.

Protagonist Therapeutics Trading Up 2.3 %

PTGX stock traded up $1.06 during midday trading on Wednesday, hitting $46.91. The company's stock had a trading volume of 182,121 shares, compared to its average volume of 846,634. The firm's 50-day moving average is $45.17 and its 200-day moving average is $42.82. Protagonist Therapeutics, Inc. has a 12 month low of $24.22 and a 12 month high of $60.60. The company has a market cap of $2.88 billion, a PE ratio of 17.64 and a beta of 2.30.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $2.07. The firm had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Insider Transactions at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics 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 owns 540,260 shares in the company, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arturo Md Molina sold 30,514 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $55.74, for a total value of $1,700,850.36. Following the completion of the transaction, the insider now directly owns 83,892 shares of the company's stock, valued at approximately $4,676,140.08. This trade represents a 26.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,776 shares of company stock worth $3,585,010 in the last three months. Corporate insiders own 5.40% of the company's stock.

Analyst Ratings Changes

PTGX has been the topic of several research reports. The Goldman Sachs Group cut their price objective on Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Truist Financial increased their price objective on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Wedbush restated an "outperform" rating and set a $70.00 target price on shares of Protagonist Therapeutics in a report on Friday, March 28th. JPMorgan Chase & Co. increased their price target on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Finally, HC Wainwright reissued a "buy" rating and set a $80.00 price objective on shares of Protagonist Therapeutics in a research note on Thursday, April 10th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.44.

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.