Resona Asset Management Co. Ltd. Acquires New Holdings in Protagonist Therapeutics, Inc. $PTGX

Resona Asset Management Co. Ltd. bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,731 shares of the company’s stock, valued at approximately $580,000.

A number of other institutional investors have also made changes to their positions in the stock. Royal Bank of Canada lifted its stake in Protagonist Therapeutics by 30.6% during the first quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after purchasing an additional 2,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Protagonist Therapeutics by 0.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after buying an additional 348 shares during the period. Millennium Management LLC lifted its stake in Protagonist Therapeutics by 283.6% during the 1st quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock worth $6,493,000 after acquiring an additional 99,269 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Protagonist Therapeutics by 11.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 36,906 shares of the company’s stock worth $2,039,000 after acquiring an additional 3,883 shares in the last quarter. Finally, Precision Wealth Strategies LLC purchased a new position in Protagonist Therapeutics during the 2nd quarter valued at about $793,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $82.00, for a total value of $410,000.00. Following the transaction, the insider directly owned 84,115 shares in the company, valued at $6,897,430. This represents a 5.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Asif Ali sold 46,203 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $83.13, for a total transaction of $3,840,855.39. Following the sale, the chief financial officer directly owned 60,320 shares in the company, valued at approximately $5,014,401.60. The trade was a 43.37% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 165,167 shares of company stock valued at $13,732,039. Corporate insiders own 4.90% of the company’s stock.

Protagonist Therapeutics Trading Down 2.5%

Shares of PTGX stock opened at $79.73 on Friday. The company has a market cap of $4.98 billion, a P/E ratio of 128.60 and a beta of 2.26. The firm has a fifty day moving average price of $86.33 and a 200 day moving average price of $72.53. Protagonist Therapeutics, Inc. has a 12 month low of $33.70 and a 12 month high of $96.54.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). The business had revenue of $4.71 million for the quarter, compared to analysts’ expectations of $5.41 million. Protagonist Therapeutics had a return on equity of 6.86% and a net margin of 21.94%. On average, equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PTGX shares. Citigroup raised their price objective on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Wedbush increased their price objective on Protagonist Therapeutics from $70.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. BMO Capital Markets reiterated an “outperform” rating on shares of Protagonist Therapeutics in a report on Monday, October 13th. Truist Financial upped their price target on Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Finally, Johnson Rice set a $112.00 price target on Protagonist Therapeutics in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $86.77.

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.