Legal & General Group Plc Lowers Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Legal & General Group Plc trimmed its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,562 shares of the company’s stock after selling 4,852 shares during the quarter. Legal & General Group Plc owned approximately 0.26% of Protagonist Therapeutics worth $5,889,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Protagonist Therapeutics by 3,025.4% during the 4th quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock worth $36,287,000 after acquiring an additional 909,998 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Protagonist Therapeutics by 61.5% during the 4th quarter. American Century Companies Inc. now owns 928,286 shares of the company’s stock valued at $35,832,000 after purchasing an additional 353,511 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Protagonist Therapeutics by 3,099.4% in the 3rd 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Protagonist Therapeutics during the 4th quarter worth $11,708,000. Finally, Pictet Asset Management Holding SA increased its position in Protagonist Therapeutics by 3,962.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 296,511 shares of the company’s stock valued at $11,445,000 after buying an additional 289,213 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

Insider Activity at Protagonist Therapeutics

In related news, CFO Asif Ali sold 24,903 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total value of $1,462,553.19. Following the completion of the transaction, the chief financial officer now owns 62,821 shares in the company, valued at $3,689,477.33. The trade was a 28.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arturo Md Molina sold 30,514 shares of the 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 transaction, the insider now owns 83,892 shares in the company, valued at $4,676,140.08. This represents a 26.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JMP Securities restated a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. BTIG Research set a $73.00 target price on shares of Protagonist Therapeutics in a research report on Monday, March 3rd. Truist Financial lifted their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. The Goldman Sachs Group cut their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.44.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $46.28 on Monday. The firm has a market capitalization of $2.84 billion, a P/E ratio of 17.40 and a beta of 2.30. The stock has a 50-day simple moving average of $44.86 and a two-hundred day simple moving average of $42.79. Protagonist Therapeutics, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $60.60.

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

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.