New York State Teachers Retirement System Trims Stock Holdings in Protagonist Therapeutics, Inc. $PTGX

New York State Teachers Retirement System trimmed its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 11.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 49,550 shares of the company’s stock after selling 6,163 shares during the quarter. New York State Teachers Retirement System’s holdings in Protagonist Therapeutics were worth $3,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC raised its position in Protagonist Therapeutics by 2,043.8% during the 3rd quarter. SG Americas Securities LLC now owns 41,246 shares of the company’s stock worth $2,740,000 after buying an additional 39,322 shares during the last quarter. Moran Wealth Management LLC raised its holdings in shares of Protagonist Therapeutics by 2.9% during the third quarter. Moran Wealth Management LLC now owns 16,212 shares of the company’s stock worth $1,077,000 after purchasing an additional 451 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in Protagonist Therapeutics during the third quarter valued at $29,000. Voya Investment Management LLC lifted its position in Protagonist Therapeutics by 8.9% during the third quarter. Voya Investment Management LLC now owns 305,419 shares of the company’s stock valued at $20,289,000 after purchasing an additional 25,065 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Protagonist Therapeutics by 53.0% in the third quarter. GAMMA Investing LLC now owns 1,648 shares of the company’s stock valued at $109,000 after purchasing an additional 571 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PTGX has been the subject of a number of recent research reports. BMO Capital Markets reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Monday, October 13th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Protagonist Therapeutics in a report on Wednesday, October 8th. Barclays lifted their price target on Protagonist Therapeutics from $88.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. Weiss Ratings raised Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, December 24th. Finally, Truist Financial raised their price objective on shares of Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.77.

Protagonist Therapeutics Trading Down 3.3%

Shares of PTGX opened at $81.99 on Friday. Protagonist Therapeutics, Inc. has a 12 month low of $33.70 and a 12 month high of $96.54. The stock’s 50 day moving average is $86.65 and its two-hundred day moving average is $70.70. The firm has a market cap of $5.13 billion, a P/E ratio of 132.24 and a beta of 2.26.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its 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). Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. The business had revenue of $4.71 million for the quarter, compared to analysts’ expectations of $5.41 million. Equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Protagonist Therapeutics 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.