BNP Paribas Financial Markets Has $751,000 Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

BNP Paribas Financial Markets lowered its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,465 shares of the company’s stock after selling 829 shares during the period. BNP Paribas Financial Markets’ holdings in Protagonist Therapeutics were worth $751,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. raised its stake in shares of Protagonist Therapeutics by 8.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company’s stock worth $72,432,000 after acquiring an additional 142,376 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Protagonist Therapeutics by 6.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,392,652 shares of the company’s stock valued at $53,758,000 after purchasing an additional 83,185 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Protagonist Therapeutics by 3,025.4% in the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock valued at $36,287,000 after purchasing an additional 909,998 shares in the last quarter. American Century Companies Inc. raised its position in Protagonist Therapeutics by 61.5% in the 4th quarter. American Century Companies Inc. now owns 928,286 shares of the company’s stock worth $35,832,000 after purchasing an additional 353,511 shares during the last quarter. Finally, Invesco Ltd. raised its position in Protagonist Therapeutics by 13.1% in the 4th quarter. Invesco Ltd. now owns 738,952 shares of the company’s stock worth $28,524,000 after purchasing an additional 85,800 shares during the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research report on Monday, March 3rd. The Goldman Sachs Group decreased their price target on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. boosted their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Truist Financial upped their target price on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Protagonist Therapeutics in a research report on Monday. Two investment 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 company. According to MarketBeat, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $65.44.

Protagonist Therapeutics Trading Up 0.2%

NASDAQ:PTGX opened at $45.91 on Friday. Protagonist Therapeutics, Inc. has a 1-year low of $27.00 and a 1-year high of $60.60. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 17.26 and a beta of 2.65. The business’s 50-day moving average price is $46.04 and its two-hundred day moving average price is $42.60.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.31. The business had revenue of $28.32 million for the quarter, compared to the consensus estimate of $30.44 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director William D. Waddill sold 4,000 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $54.25, for a total transaction of $217,000.00. Following the completion of the sale, the director now owns 13,130 shares of the company’s stock, valued at $712,302.50. This represents 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, CFO Asif Ali sold 1,756 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total transaction of $80,776.00. Following the sale, the chief financial officer now owns 61,065 shares in the company, valued at approximately $2,808,990. The trade was a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,173 shares of company stock worth $3,461,180. Company insiders own 4.90% of the company’s stock.

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.