Geode Capital Management LLC Buys 2,366 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Geode Capital Management LLC grew its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,377,063 shares of the company’s stock after acquiring an additional 2,366 shares during the quarter. Geode Capital Management LLC owned about 2.31% of Protagonist Therapeutics worth $53,167,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new stake in Protagonist Therapeutics during the 4th quarter valued at about $38,000. KBC Group NV lifted its position in Protagonist Therapeutics by 54.4% in the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock valued at $81,000 after acquiring an additional 737 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Protagonist Therapeutics by 10.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock valued at $121,000 after purchasing an additional 295 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Protagonist Therapeutics in the 4th quarter worth $211,000. Finally, Caprock Group LLC purchased a new position in shares of Protagonist Therapeutics in the fourth quarter worth $224,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX opened at $42.62 on Monday. The stock has a 50-day simple moving average of $44.06 and a two-hundred day simple moving average of $42.74. Protagonist Therapeutics, Inc. has a 52-week low of $24.22 and a 52-week high of $60.60. The firm has a market capitalization of $2.62 billion, a PE ratio of 16.02 and a beta of 2.30.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The company had revenue of $170.64 million during the quarter, compared to the consensus estimate of $56.65 million. Equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William D. Waddill sold 4,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $712,302.50. The trade was a 23.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total value of $204,606.62. Following the sale, the chief executive officer now owns 540,260 shares of the company’s stock, valued at $20,627,126.80. This represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,776 shares of company stock worth $3,585,010 in the last three months. Company insiders own 5.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PTGX shares. Truist Financial lifted their price objective on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. increased their price objective 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. JMP Securities reaffirmed a “market outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Wedbush reissued an “outperform” rating and set a $70.00 price target on shares of Protagonist Therapeutics in a report on Friday, March 28th. Finally, BMO Capital Markets raised 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. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus 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.