Protagonist Therapeutics, Inc. $PTGX Stock Position Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 341,465 shares of the company’s stock after selling 8,923 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of Protagonist Therapeutics worth $35,990,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PTGX. Farther Finance Advisors LLC boosted its holdings in Protagonist Therapeutics by 110.6% during the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after acquiring an additional 156 shares during the period. Greenline Wealth Management LLC acquired a new position in shares of Protagonist Therapeutics in the 4th quarter valued at $27,000. Osaic Holdings Inc. raised its position in Protagonist Therapeutics by 79.5% in the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after purchasing an additional 525 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Protagonist Therapeutics by 222.4% in the 4th quarter. Hantz Financial Services Inc. now owns 951 shares of the company’s stock valued at $83,000 after buying an additional 656 shares in the last quarter. Finally, Canton Hathaway LLC acquired a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at $87,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Bryan Giraudo sold 6,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $100.00, for a total value of $600,000.00. Following the transaction, the director directly owned 31,825 shares in the company, valued at approximately $3,182,500. This represents a 15.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William D. Waddill sold 9,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the completion of the sale, the director owned 7,825 shares of the company’s stock, valued at approximately $922,880.50. The trade was a 53.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 161,130 shares of company stock valued at $16,355,220. 5.19% of the stock is owned by company insiders.

Protagonist Therapeutics Trading Up 0.5%

PTGX stock opened at $136.11 on Friday. The firm has a market capitalization of $8.75 billion, a PE ratio of -75.20 and a beta of 1.79. The business’s 50 day simple moving average is $116.79 and its 200 day simple moving average is $101.33. Protagonist Therapeutics, Inc. has a 1-year low of $50.49 and a 1-year high of $143.29.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.55. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. The company had revenue of $56.37 million during the quarter, compared to analysts’ expectations of $11.70 million. As a group, sell-side analysts predict that Protagonist Therapeutics, Inc. will post 3.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PTGX has been the subject of several research analyst reports. Zacks Research upgraded Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Barclays increased their price target on Protagonist Therapeutics from $119.00 to $151.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $110.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. Johnson Rice set a $165.00 target price on Protagonist Therapeutics in a research note on Friday, July 17th. Finally, Wedbush upped their price objective on Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $123.00.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.