ProShare Advisors LLC Sells 3,075 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

ProShare Advisors LLC lowered its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 21.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,270 shares of the company’s stock after selling 3,075 shares during the period. ProShare Advisors LLC’s holdings in Protagonist Therapeutics were worth $391,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Protagonist Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after buying an additional 39,055 shares in the last quarter. Kynam Capital Management LP increased its stake in Protagonist Therapeutics by 10.2% in the fourth quarter. Kynam Capital Management LP now owns 2,004,875 shares of the company’s stock valued at $45,972,000 after acquiring an additional 186,218 shares during the last quarter. Superstring Capital Management LP bought a new stake in Protagonist Therapeutics during the fourth quarter worth $8,694,000. Renaissance Technologies LLC lifted its stake in Protagonist Therapeutics by 813.4% during the second quarter. Renaissance Technologies LLC now owns 297,467 shares of the company’s stock worth $10,307,000 after purchasing an additional 264,900 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Protagonist Therapeutics by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock valued at $7,079,000 after purchasing an additional 17,065 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Insider Activity

In related news, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the transaction, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Asif Ali sold 14,203 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the sale, the chief financial officer now directly owns 34,960 shares in the company, valued at $1,555,370.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the transaction, the director now owns 12,000 shares in the company, valued at approximately $540,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,203 shares of company stock valued at $1,311,891. Company insiders own 5.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PTGX. JPMorgan Chase & Co. upped their price objective on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. JMP Securities reduced their price target on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 7th. Truist Financial started coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective for the company. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, HC Wainwright upped their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $49.86.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ PTGX opened at $44.37 on Wednesday. The firm has a 50 day moving average price of $41.94 and a two-hundred day moving average price of $34.40. The stock has a market cap of $2.60 billion, a P/E ratio of 18.18 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 52-week low of $13.72 and a 52-week high of $48.00.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50). The company had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. Analysts predict that Protagonist Therapeutics, Inc. will post 2.31 earnings per share for the current fiscal year.

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.