Rhumbline Advisers Raises Position in Protagonist Therapeutics, Inc. $PTGX

Rhumbline Advisers boosted its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 6.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 173,028 shares of the company’s stock after purchasing an additional 10,963 shares during the period. Rhumbline Advisers’ holdings in Protagonist Therapeutics were worth $9,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in shares of Protagonist Therapeutics in the second quarter worth about $27,000. Bessemer Group Inc. boosted its holdings in Protagonist Therapeutics by 171.0% during the 2nd quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock valued at $28,000 after acquiring an additional 318 shares during the period. CWM LLC grew its position in Protagonist Therapeutics by 201.5% during the 2nd quarter. CWM LLC now owns 609 shares of the company’s stock worth $34,000 after acquiring an additional 407 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Protagonist Therapeutics by 141.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company’s stock worth $59,000 after acquiring an additional 710 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in Protagonist Therapeutics in the 1st quarter worth approximately $68,000. 98.63% of the stock is owned by institutional investors.

Protagonist Therapeutics Trading Down 4.8%

Shares of NASDAQ PTGX opened at $85.64 on Tuesday. The firm has a fifty day simple moving average of $77.08 and a two-hundred day simple moving average of $62.35. Protagonist Therapeutics, Inc. has a 12 month low of $33.70 and a 12 month high of $93.25. The firm has a market capitalization of $5.35 billion, a PE ratio of 138.13 and a beta of 2.19.

Protagonist Therapeutics (NASDAQ:PTGX) last released 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). Protagonist Therapeutics had a return on equity of 6.86% and a net margin of 21.94%.The company had revenue of $4.71 million during the quarter, compared to the consensus estimate of $5.41 million. On average, sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

PTGX has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Protagonist Therapeutics in a research note on Wednesday, October 8th. Truist Financial increased their price target on shares of Protagonist Therapeutics from $76.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. Citigroup increased their target price on shares of Protagonist Therapeutics from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, BTIG Research reissued a “buy” rating and issued a $82.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.23.

Insider Activity

In other news, Director William D. Waddill sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $81.62, for a total value of $979,440.00. Following the completion of the transaction, the director owned 5,130 shares in the company, valued at $418,710.60. This trade represents a 70.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.90% of the company’s stock.

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.