Handelsbanken Fonder AB Sells 3,200 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Handelsbanken Fonder AB decreased its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 18.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,400 shares of the company’s stock after selling 3,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Protagonist Therapeutics were worth $696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Farallon Capital Management LLC increased its holdings in shares of Protagonist Therapeutics by 1.2% during the fourth quarter. Farallon Capital Management LLC now owns 5,930,006 shares of the company’s stock valued at $228,898,000 after acquiring an additional 69,000 shares in the last quarter. RTW Investments LP boosted its position in shares of Protagonist Therapeutics by 1.3% during the fourth quarter. RTW Investments LP now owns 5,498,545 shares of the company’s stock valued at $212,244,000 after buying an additional 72,433 shares during the last quarter. BVF Inc. IL boosted its position in shares of Protagonist Therapeutics by 2.7% during the fourth quarter. BVF Inc. IL now owns 1,900,015 shares of the company’s stock valued at $73,341,000 after buying an additional 49,848 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position 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 buying an additional 83,185 shares during the last quarter. Finally, Deep Track Capital LP purchased a new position in shares of Protagonist Therapeutics during the fourth quarter valued at approximately $38,600,000. Institutional investors own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. 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. BTIG Research set a $73.00 target price on Protagonist Therapeutics in a research report on Monday, March 3rd. Truist Financial lifted their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Wedbush reaffirmed an “outperform” rating and set a $70.00 target price on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. lifted their target price on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Two investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.44.

Protagonist Therapeutics Trading Up 0.1%

PTGX stock opened at $56.37 on Monday. The stock’s fifty day simple moving average is $46.72 and its two-hundred day simple moving average is $43.41. Protagonist Therapeutics, Inc. has a 1-year low of $30.67 and a 1-year high of $60.60. The stock has a market cap of $3.49 billion, a P/E ratio of 21.19 and a beta of 2.25.

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

Insider Activity

In other news, insider Arturo Md Molina sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $57.03, for a total transaction of $570,300.00. Following the transaction, the insider now owns 83,892 shares of the company’s stock, valued at $4,784,360.76. This represents a 10.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Asif Ali sold 1,756 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total value of $80,776.00. Following the sale, the chief financial officer now directly owns 61,065 shares in the company, valued at $2,808,990. This trade represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

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.