State of Alaska Department of Revenue Reduces Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

State of Alaska Department of Revenue decreased its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,023 shares of the company’s stock after selling 848 shares during the quarter. State of Alaska Department of Revenue owned 0.05% of Protagonist Therapeutics worth $1,596,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Deep Track Capital LP acquired a new stake in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $38,600,000. Wellington Management Group LLP lifted its stake in Protagonist Therapeutics by 3,025.4% in the 4th quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock valued at $36,287,000 after buying an additional 909,998 shares in the last quarter. American Century Companies Inc. lifted its stake in Protagonist Therapeutics by 61.5% in the 4th quarter. American Century Companies Inc. now owns 928,286 shares of the company’s stock valued at $35,832,000 after buying an additional 353,511 shares in the last quarter. Toronto Dominion Bank acquired a new stake in Protagonist Therapeutics during the 4th quarter valued at $13,162,000. Finally, Raymond James Financial Inc. purchased a new position in Protagonist Therapeutics during the fourth quarter worth $11,708,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Insider Buying and Selling

In other news, insider Arturo Md Molina sold 10,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total value of $570,300.00. Following the completion of the sale, 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 ownership of the stock. The transaction 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 shares were sold at an average price of $46.00, for a total transaction of $80,776.00. Following the completion of the transaction, the chief financial officer now directly owns 61,065 shares in the company, valued at approximately $2,808,990. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

Analyst Upgrades and Downgrades

PTGX has been the topic of several recent research reports. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research report on Monday, March 3rd. Citigroup assumed coverage on shares of Protagonist Therapeutics in a research note on Tuesday, June 17th. They issued a “buy” rating and a $72.00 target price for the company. Truist Financial raised their price target 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. JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Finally, BMO Capital Markets boosted their price objective on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Protagonist Therapeutics has an average rating of “Moderate Buy” and an average price target of $66.10.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $53.68 on Wednesday. The firm’s 50-day simple moving average is $48.24 and its 200-day simple moving average is $43.98. Protagonist Therapeutics, Inc. has a 1-year low of $30.67 and a 1-year high of $60.60. The firm has a market cap of $3.33 billion, a P/E ratio of 71.57 and a beta of 2.25.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.31. Protagonist Therapeutics had a net margin of 27.04% and a return on equity of 9.22%. The company had revenue of $28.32 million for the quarter, compared to the consensus estimate of $30.44 million. Analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

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.