Protagonist Therapeutics, Inc. $PTGX Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 38.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,992 shares of the company’s stock after acquiring an additional 551 shares during the period. PNC Financial Services Group Inc.’s holdings in Protagonist Therapeutics were worth $96,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of Montreal Can grew its holdings in shares of Protagonist Therapeutics by 4.5% during the 4th quarter. Bank of Montreal Can now owns 6,250 shares of the company’s stock worth $241,000 after purchasing an additional 270 shares during the period. GF Fund Management CO. LTD. lifted its position in Protagonist Therapeutics by 22.0% in the first quarter. GF Fund Management CO. LTD. now owns 1,526 shares of the company’s stock valued at $74,000 after buying an additional 275 shares during the last quarter. GAMMA Investing LLC lifted its position in Protagonist Therapeutics by 153.3% in the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company’s stock valued at $58,000 after buying an additional 728 shares during the last quarter. State of Wyoming boosted its stake in Protagonist Therapeutics by 11.9% during the fourth quarter. State of Wyoming now owns 7,832 shares of the company’s stock worth $302,000 after buying an additional 832 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of Protagonist Therapeutics by 6.3% during the first quarter. Mackenzie Financial Corp now owns 22,698 shares of the company’s stock valued at $1,098,000 after acquiring an additional 1,349 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Down 0.0%

Shares of Protagonist Therapeutics stock opened at $56.23 on Thursday. Protagonist Therapeutics, Inc. has a 52-week low of $33.31 and a 52-week high of $60.60. The company has a market capitalization of $3.50 billion, a P/E ratio of 80.33 and a beta of 2.33. The company has a 50 day moving average of $54.13 and a 200 day moving average of $48.26.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. The firm had revenue of $5.55 million during the quarter, compared to analysts’ expectations of $8.32 million. As a group, research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $57.03, for a total value of $570,300.00. Following the sale, the insider directly owned 83,892 shares in the company, valued at $4,784,360.76. This trade represents a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $55.05, for a total value of $1,214,678.25. Following the transaction, the chief executive officer directly owned 548,538 shares of the company’s stock, valued at approximately $30,197,016.90. This represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,859 shares of company stock worth $4,020,877 in the last three months. 4.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PTGX has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Wall Street Zen raised Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 8th. JMP Securities boosted their price objective on Protagonist Therapeutics from $67.00 to $69.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. Finally, Citigroup restated an “outperform” rating on shares of Protagonist Therapeutics in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $67.20.

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.