Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stake Boosted by RTW Investments LP

RTW Investments LP raised its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,498,545 shares of the company's stock after purchasing an additional 72,433 shares during the period. Protagonist Therapeutics comprises approximately 3.2% of RTW Investments LP's holdings, making the stock its 10th largest holding. RTW Investments LP owned about 9.23% of Protagonist Therapeutics worth $212,244,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Deep Track Capital LP acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at approximately $38,600,000. Wellington Management Group LLP raised its position in shares of Protagonist Therapeutics by 3,025.4% during the 4th quarter. Wellington Management Group LLP now owns 940,077 shares of the company's stock valued at $36,287,000 after acquiring an additional 909,998 shares in the last quarter. American Century Companies Inc. raised its position in shares of Protagonist Therapeutics by 61.5% during the 4th quarter. American Century Companies Inc. now owns 928,286 shares of the company's stock valued at $35,832,000 after acquiring an additional 353,511 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Protagonist Therapeutics by 3,099.4% during the 3rd quarter. Principal Financial Group Inc. now owns 320,832 shares of the company's stock valued at $14,437,000 after acquiring an additional 310,804 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at approximately $11,708,000. 98.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PTGX shares. JPMorgan Chase & Co. upped their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. JMP Securities reissued a "market outperform" rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Truist Financial upped their price target on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. BMO Capital Markets increased their target price on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. Finally, The Goldman Sachs Group dropped their target price 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. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $65.44.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX traded up $1.08 on Monday, hitting $45.57. The company's stock had a trading volume of 551,847 shares, compared to its average volume of 876,037. Protagonist Therapeutics, Inc. has a 12 month low of $27.00 and a 12 month high of $60.60. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 17.13 and a beta of 2.65. The stock's 50-day moving average is $46.77 and its two-hundred day moving average is $42.57.

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

Insider Transactions at Protagonist Therapeutics

In related news, CFO Asif Ali sold 1,756 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total transaction of $80,776.00. Following the completion of the transaction, the chief financial officer now owns 61,065 shares of the company's stock, valued at $2,808,990. This trade represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Arturo Md Molina sold 30,514 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the sale, the insider now directly owns 83,892 shares of the company's stock, valued at approximately $4,676,140.08. This represents a 26.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,532 shares of company stock valued at $3,665,786. 4.90% of the stock is currently owned by corporate insiders.

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.