Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Position Increased by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 32.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,796 shares of the company's stock after buying an additional 9,423 shares during the quarter. Wells Fargo & Company MN owned approximately 0.07% of Protagonist Therapeutics worth $1,498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PTGX. Barclays PLC boosted its stake in Protagonist Therapeutics by 223.6% during the 3rd quarter. Barclays PLC now owns 126,995 shares of the company's stock valued at $5,714,000 after acquiring an additional 87,755 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of 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. lifted its position in shares of 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 purchasing an additional 310,804 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Protagonist Therapeutics in the fourth quarter worth about $38,000. Finally, Assenagon Asset Management S.A. bought a new stake in Protagonist Therapeutics in the fourth quarter valued at about $2,016,000. Institutional investors and hedge funds own 98.63% of the company's stock.

Protagonist Therapeutics Stock Up 1.3 %

NASDAQ PTGX traded up $0.61 on Friday, hitting $45.60. The stock had a trading volume of 104,867 shares, compared to its average volume of 857,506. The company's 50-day moving average is $46.16 and its two-hundred day moving average is $42.86. Protagonist Therapeutics, Inc. has a one year low of $25.23 and a one year high of $60.60. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 17.17 and a beta of 2.30.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $2.07. The business had revenue of $170.64 million during the quarter, compared to the consensus estimate of $56.65 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. On average, sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Insider Transactions at Protagonist Therapeutics

In related news, CFO Asif Ali sold 1,756 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total transaction of $80,776.00. Following the transaction, the chief financial officer now owns 61,065 shares in the company, valued at $2,808,990. This trade represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Arturo Md Molina sold 30,514 shares of the company's stock in a transaction that occurred on 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 sale, the insider now owns 83,892 shares of the company's stock, valued at $4,676,140.08. This trade 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. 5.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on PTGX shares. JMP Securities reiterated a "market outperform" rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. The Goldman Sachs Group decreased their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Monday, February 24th. JPMorgan Chase & Co. increased their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a report on Monday, March 3rd. Finally, BMO Capital Markets boosted their price objective on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. Two equities 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, Protagonist Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $65.44.

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.