Tower Research Capital LLC TRC Buys 7,009 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Tower Research Capital LLC TRC grew its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 1,946.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,369 shares of the company's stock after acquiring an additional 7,009 shares during the period. Tower Research Capital LLC TRC's holdings in Protagonist Therapeutics were worth $284,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its position in shares of Protagonist Therapeutics by 3,025.4% in the 4th quarter. Wellington Management Group LLP now owns 940,077 shares of the company's stock worth $36,287,000 after buying an additional 909,998 shares during the last quarter. American Century Companies Inc. boosted its holdings in 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 acquiring an additional 353,511 shares in the last quarter. Principal Financial Group Inc. increased its position in 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 purchasing an additional 310,804 shares during the period. Raymond James Financial Inc. bought a new position in Protagonist Therapeutics in the 4th quarter worth $11,708,000. Finally, Pictet Asset Management Holding SA lifted its position in shares of Protagonist Therapeutics by 3,962.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 296,511 shares of the company's stock worth $11,445,000 after purchasing an additional 289,213 shares during the period. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Arturo Md Molina sold 30,514 shares of Protagonist Therapeutics stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the completion of the sale, the insider now directly owns 83,892 shares in the company, valued at approximately $4,676,140.08. This trade represents a 26.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William D. Waddill sold 4,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.25, for a total value of $217,000.00. Following the transaction, the director now directly owns 13,130 shares of the company's stock, valued at approximately $712,302.50. The trade was a 23.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,532 shares of company stock valued at $3,665,786 in the last 90 days. 5.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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. BMO Capital Markets upped their price target on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. Wedbush reissued an "outperform" rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Truist Financial upped their target price on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. lifted their price target 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. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $65.44.

Protagonist Therapeutics Stock Down 1.3 %

Shares of NASDAQ PTGX traded down $0.55 during midday trading on Thursday, hitting $42.54. The stock had a trading volume of 179,660 shares, compared to its average volume of 866,201. The business's 50 day moving average is $46.76 and its 200-day moving average is $42.77. Protagonist Therapeutics, Inc. has a 52 week low of $25.75 and a 52 week high of $60.60. The company has a market cap of $2.64 billion, a P/E ratio of 15.99 and a beta of 2.65.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released 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. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $28.32 million for the quarter, compared to analysts' expectations of $30.44 million. As a group, analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS 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.