Assenagon Asset Management S.A. Sells 7,367 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Assenagon Asset Management S.A. lowered its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 14.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 44,872 shares of the company’s stock after selling 7,367 shares during the period. Assenagon Asset Management S.A. owned about 0.07% of Protagonist Therapeutics worth $2,170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PTGX. Louisiana State Employees Retirement System increased its position in shares of Protagonist Therapeutics by 1.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock worth $1,112,000 after acquiring an additional 300 shares during the period. Principal Financial Group Inc. boosted its stake in Protagonist Therapeutics by 5.3% in the fourth quarter. Principal Financial Group Inc. now owns 337,809 shares of the company’s stock valued at $13,039,000 after acquiring an additional 16,977 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in Protagonist Therapeutics in the fourth quarter valued at approximately $679,000. Hussman Strategic Advisors Inc. acquired a new stake in Protagonist Therapeutics in the fourth quarter valued at approximately $4,053,000. Finally, Bank of New York Mellon Corp boosted its stake in Protagonist Therapeutics by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 390,788 shares of the company’s stock valued at $15,084,000 after acquiring an additional 34,455 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

Analyst Upgrades and Downgrades

PTGX has been the subject of several research reports. BTIG Research set a $73.00 price objective on shares of Protagonist Therapeutics in a research note on Monday, March 3rd. Truist Financial lifted 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. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. boosted their price target on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Finally, BMO Capital Markets boosted their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.44.

Protagonist Therapeutics Stock Down 3.0%

Shares of PTGX opened at $54.66 on Tuesday. Protagonist Therapeutics, Inc. has a fifty-two week low of $30.67 and a fifty-two week high of $60.60. The firm’s 50 day moving average price is $46.98 and its 200 day moving average price is $43.48. The company has a market cap of $3.39 billion, a P/E ratio of 20.55 and a beta of 2.25.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data 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 net margin of 52.76% and a return on equity of 34.68%. The company had revenue of $28.32 million for the quarter, compared to the consensus estimate of $30.44 million. Research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Insider Activity

In related news, CFO Asif Ali sold 1,756 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total transaction of $80,776.00. Following the completion of the sale, the chief financial officer now owns 61,065 shares in the company, valued at $2,808,990. This represents a 2.80% 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 10,000 shares of the 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 sale, the insider now owns 83,892 shares of the company’s stock, valued at approximately $4,784,360.76. This represents a 10.65% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

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.