Allspring Global Investments Holdings LLC Sells 5,973 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Allspring Global Investments Holdings LLC decreased its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 70.2% during the 4th quarter, HoldingsChannel reports. The fund owned 2,533 shares of the company’s stock after selling 5,973 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Protagonist Therapeutics were worth $58,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its stake in shares of Protagonist Therapeutics by 96.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,473 shares of the company’s stock valued at $25,000 after purchasing an additional 723 shares in the last quarter. Simplicity Solutions LLC acquired a new stake in Protagonist Therapeutics during the 3rd quarter worth approximately $174,000. Teacher Retirement System of Texas grew its holdings in Protagonist Therapeutics by 6.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,954 shares of the company’s stock worth $216,000 after acquiring an additional 740 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp grew its holdings in Protagonist Therapeutics by 9.4% during the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 13,792 shares of the company’s stock worth $230,000 after acquiring an additional 1,180 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Protagonist Therapeutics by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 14,971 shares of the company’s stock valued at $250,000 after acquiring an additional 1,068 shares during the period. Institutional investors own 98.63% of the company’s stock.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 30,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $31.62, for a total value of $948,600.00. Following the completion of the sale, the chief executive officer now directly owns 574,590 shares in the company, valued at $18,168,535.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director William D. Waddill sold 12,975 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $31.34, for a total transaction of $406,636.50. Following the transaction, the director now owns 12,000 shares in the company, valued at $376,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 30,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $31.62, for a total value of $948,600.00. Following the completion of the sale, the chief executive officer now owns 574,590 shares of the company’s stock, valued at $18,168,535.80. The disclosure for this sale can be found here. Insiders have sold a total of 83,457 shares of company stock worth $2,553,328 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Protagonist Therapeutics Stock Up 1.6 %

PTGX opened at $25.56 on Tuesday. Protagonist Therapeutics, Inc. has a twelve month low of $13.72 and a twelve month high of $33.34. The company has a fifty day moving average of $28.26 and a 200-day moving average of $23.42. The stock has a market cap of $1.49 billion, a PE ratio of -17.15 and a beta of 2.01.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.39. The business had revenue of $60.00 million for the quarter, compared to analyst estimates of $60.00 million. Sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 1.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PTGX shares. JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price on shares of Protagonist Therapeutics in a report on Wednesday, February 28th. Finally, StockNews.com upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

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.