Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 124,341 shares of the company's stock after acquiring an additional 8,576 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.21% of Protagonist Therapeutics worth $4,800,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in Protagonist Therapeutics by 127.2% in the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company's stock valued at $3,782,000 after purchasing an additional 45,674 shares in the last quarter. Principal Financial Group Inc. increased its position in Protagonist Therapeutics by 3,099.4% during the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company's stock worth $14,437,000 after buying an additional 310,804 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Protagonist Therapeutics by 36.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 216,069 shares of the company's stock worth $8,340,000 after buying an additional 58,002 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Protagonist Therapeutics during the fourth quarter worth $2,016,000. Finally, Charles Schwab Investment Management Inc. increased its position in Protagonist Therapeutics by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 578,409 shares of the company's stock worth $22,327,000 after buying an additional 12,906 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PTGX shares. JMP Securities reaffirmed a "market outperform" rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, February 7th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research report on Thursday, April 10th. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research report on Monday, March 3rd. Wedbush reiterated an "outperform" rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a report on Friday, March 28th. Finally, Truist Financial lifted their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Protagonist Therapeutics has an average rating of "Moderate Buy" and an average price target of $65.44.

Protagonist Therapeutics Trading Up 5.4%

Shares of NASDAQ:PTGX traded up $2.30 on Monday, reaching $45.27. 1,000,793 shares of the company's stock were exchanged, compared to its average volume of 872,406. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 17.02 and a beta of 2.65. The company has a fifty day moving average of $46.95 and a 200-day moving average of $42.67. Protagonist Therapeutics, Inc. has a twelve month low of $27.00 and a twelve month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.31. The business had revenue of $28.32 million during 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%. As a group, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 1,756 shares of Protagonist Therapeutics stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total value of $80,776.00. Following the completion of the transaction, the chief financial officer now directly owns 61,065 shares of the company's stock, valued at $2,808,990. This trade represents a 2.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company's stock in a transaction that occurred 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,532 shares of company stock valued at $3,665,786. Corporate insiders own 5.40% of the company's stock.

About Protagonist Therapeutics

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.