Great Lakes Advisors LLC Reduces Stock Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Great Lakes Advisors LLC reduced its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,947 shares of the company’s stock after selling 7,678 shares during the period. Great Lakes Advisors LLC owned about 0.10% of Protagonist Therapeutics worth $2,391,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PTGX. Janney Montgomery Scott LLC purchased a new stake in Protagonist Therapeutics during the third quarter worth $866,000. Amalgamated Bank boosted its holdings in Protagonist Therapeutics by 756.4% during the third quarter. Amalgamated Bank now owns 17,324 shares of the company’s stock worth $780,000 after buying an additional 15,301 shares in the last quarter. Entropy Technologies LP purchased a new stake in Protagonist Therapeutics during the third quarter worth $312,000. Victory Capital Management Inc. boosted its holdings in Protagonist Therapeutics by 1,729.3% during the third quarter. Victory Capital Management Inc. now owns 130,797 shares of the company’s stock worth $5,886,000 after buying an additional 123,647 shares in the last quarter. Finally, Mutual of America Capital Management LLC purchased a new stake in Protagonist Therapeutics during the third quarter worth $399,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Stock Down 0.2 %

Shares of NASDAQ PTGX opened at $54.78 on Friday. The firm has a 50-day simple moving average of $39.63 and a 200-day simple moving average of $42.24. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 20.59 and a beta of 2.34. Protagonist Therapeutics, Inc. has a 52 week low of $24.22 and a 52 week high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. The business had revenue of $170.64 million during the quarter, compared to analysts’ expectations of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. As a group, equities research analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the sale, the chief executive officer now owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. This represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Asif Ali sold 24,903 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $58.73, for a total transaction of $1,462,553.19. Following the completion of the sale, the chief financial officer now directly owns 62,821 shares of the company’s stock, valued at $3,689,477.33. This represents a 28.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,776 shares of company stock valued at $3,368,010. 5.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PTGX. JMP Securities reissued a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Friday, February 7th. Truist Financial upped their price objective 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. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. BMO Capital Markets upped their price objective on shares of 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 reduced their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Two 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.22.

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.