Nisa Investment Advisors LLC Sells 301 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Nisa Investment Advisors LLC decreased its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 9.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,832 shares of the company’s stock after selling 301 shares during the period. Nisa Investment Advisors LLC’s holdings in Protagonist Therapeutics were worth $137,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Protagonist Therapeutics in the fourth quarter worth about $11,708,000. Swiss National Bank increased its holdings in Protagonist Therapeutics by 1.2% during the 4th quarter. Swiss National Bank now owns 86,900 shares of the company’s stock worth $3,354,000 after purchasing an additional 1,000 shares during the period. Cibc World Markets Corp purchased a new position in Protagonist Therapeutics during the 4th quarter worth approximately $211,000. Maryland State Retirement & Pension System boosted its stake in shares of Protagonist Therapeutics by 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company’s stock valued at $779,000 after buying an additional 278 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in Protagonist Therapeutics by 18.7% during the fourth quarter. Teacher Retirement System of Texas now owns 13,099 shares of the company’s stock worth $506,000 after purchasing an additional 2,067 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

Insider Transactions at Protagonist Therapeutics

In related news, CFO Asif Ali sold 1,756 shares of the firm’s stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total value of $80,776.00. Following the completion of the transaction, the chief financial officer directly owned 61,065 shares of the company’s stock, valued at $2,808,990. This trade represents a 2.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Arturo Md Molina sold 10,000 shares of Protagonist Therapeutics 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 directly owned 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. 4.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PTGX shares. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Wall Street Zen raised shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, June 8th. Citigroup initiated coverage on shares of Protagonist Therapeutics in a research note on Tuesday, June 17th. They set a “buy” rating and a $72.00 price objective on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.10.

Protagonist Therapeutics Price Performance

Shares of PTGX opened at $56.44 on Friday. The business’s 50 day simple moving average is $51.04 and its 200-day simple moving average is $45.48. Protagonist Therapeutics, Inc. has a 1 year low of $32.50 and a 1 year high of $60.60. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 75.25 and a beta of 2.26.

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 the consensus estimate of ($0.50) by $0.31. The company had revenue of $28.32 million during the quarter, compared to analysts’ expectations of $30.44 million. Protagonist Therapeutics had a return on equity of 9.22% and a net margin of 27.04%. On average, sell-side analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current 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.