State of New Jersey Common Pension Fund D Sells 20,969 Shares of Protagonist Therapeutics, Inc. $PTGX

State of New Jersey Common Pension Fund D reduced its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 55.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,987 shares of the company’s stock after selling 20,969 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Protagonist Therapeutics were worth $1,484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farallon Capital Management LLC lifted its holdings in Protagonist Therapeutics by 0.4% during the third quarter. Farallon Capital Management LLC now owns 6,196,006 shares of the company’s stock valued at $411,601,000 after purchasing an additional 24,000 shares in the last quarter. SG Americas Securities LLC raised its holdings in Protagonist Therapeutics by 2,043.8% during the third quarter. SG Americas Securities LLC now owns 41,246 shares of the company’s stock valued at $2,740,000 after acquiring an additional 39,322 shares during the period. Mangrove Partners IM LLC boosted its stake in shares of Protagonist Therapeutics by 21.0% in the third quarter. Mangrove Partners IM LLC now owns 478,413 shares of the company’s stock worth $31,781,000 after acquiring an additional 83,030 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Protagonist Therapeutics by 123.1% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 90,317 shares of the company’s stock worth $6,000,000 after purchasing an additional 49,833 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Protagonist Therapeutics by 8.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 228,146 shares of the company’s stock valued at $15,156,000 after buying an additional 16,865 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 54,641 shares of Protagonist Therapeutics stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $101.00, for a total value of $5,518,741.00. Following the completion of the transaction, the chief executive officer directly owned 524,938 shares of the company’s stock, valued at $53,018,738. This trade represents a 9.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Asif Ali sold 24,765 shares of the company’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $104.24, for a total transaction of $2,581,503.60. Following the sale, the chief financial officer owned 60,753 shares in the company, valued at $6,332,892.72. This represents a 28.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 138,215 shares of company stock valued at $13,866,186 over the last ninety days. Corporate insiders own 5.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on PTGX shares. HC Wainwright boosted their target price on shares of Protagonist Therapeutics from $80.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, January 30th. TD Cowen raised their target price on shares of Protagonist Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Truist Financial lifted their price target on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Barclays boosted their price target on shares of Protagonist Therapeutics from $113.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Finally, Citizens Jmp increased their price objective on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a report on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $113.69.

Protagonist Therapeutics Price Performance

Shares of PTGX opened at $99.36 on Monday. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of -54.90 and a beta of 1.89. Protagonist Therapeutics, Inc. has a 1 year low of $42.85 and a 1 year high of $107.84. The business’s 50 day simple moving average is $99.40 and its 200-day simple moving average is $89.42.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, beating 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 firm had revenue of $56.37 million during the quarter, compared to analyst estimates of $11.70 million. On average, sell-side analysts expect that Protagonist Therapeutics, Inc. will post 2.32 earnings per share 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.