Allspring Global Investments Holdings LLC Increases Stock Position in Protagonist Therapeutics, Inc. $PTGX

Allspring Global Investments Holdings LLC raised its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 650.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,916 shares of the company’s stock after purchasing an additional 25,931 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Protagonist Therapeutics were worth $3,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC lifted its position in Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after acquiring an additional 156 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Protagonist Therapeutics by 1.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,393 shares of the company’s stock valued at $1,170,000 after buying an additional 193 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in shares of Protagonist Therapeutics by 2.3% during the 4th quarter. Maryland State Retirement & Pension System now owns 8,603 shares of the company’s stock worth $751,000 after buying an additional 196 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Protagonist Therapeutics by 7.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,760 shares of the company’s stock valued at $291,000 after purchasing an additional 200 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Protagonist Therapeutics by 8.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,959 shares of the company’s stock valued at $258,000 after purchasing an additional 221 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Wolfe Research started coverage on Protagonist Therapeutics in a research report on Thursday, May 21st. They issued an “outperform” rating and a $135.00 target price on the stock. Johnson Rice set a $165.00 price target on Protagonist Therapeutics in a research note on Friday, July 17th. Wall Street Zen upgraded Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $110.00 price objective on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Protagonist Therapeutics Trading Up 0.5%

PTGX stock opened at $136.11 on Friday. The stock has a 50-day moving average price of $116.79 and a two-hundred day moving average price of $101.33. The company has a market cap of $8.75 billion, a PE ratio of -75.20 and a beta of 1.79. Protagonist Therapeutics, Inc. has a 12-month low of $50.49 and a 12-month 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, beating analysts’ consensus estimates of ($0.50) by $0.55. The business had revenue of $56.37 million during the quarter, compared to analyst estimates of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. Equities analysts forecast that Protagonist Therapeutics, Inc. will post 3.69 EPS for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the sale, the chief executive officer owned 523,478 shares in the company, valued at $52,410,617.36. This represents a 12.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Bryan Giraudo sold 36,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $100.14, for a total value of $3,605,040.00. Following the completion of the transaction, the director owned 27,825 shares of the company’s stock, valued at approximately $2,786,395.50. The trade was a 56.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 161,130 shares of company stock worth $16,355,220 in the last ninety days. 5.19% of the stock is owned by insiders.

Protagonist Therapeutics Company Profile

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.