Arizona State Retirement System Lowers Stock Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Arizona State Retirement System cut its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,236 shares of the company’s stock after selling 445 shares during the quarter. Arizona State Retirement System’s holdings in Protagonist Therapeutics were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PTGX. Russell Investments Group Ltd. acquired a new position in shares of Protagonist Therapeutics during the 1st quarter valued at about $35,000. Lazard Asset Management LLC acquired a new position in Protagonist Therapeutics during the first quarter worth approximately $69,000. Seven Eight Capital LP purchased a new position in Protagonist Therapeutics during the first quarter worth approximately $202,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Protagonist Therapeutics by 74.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock valued at $263,000 after purchasing an additional 3,870 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at $379,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total value of $320,000.00. Following the transaction, the director now owns 12,000 shares in the company, valued at $480,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total transaction of $320,000.00. Following the sale, the director now directly owns 12,000 shares in the company, valued at approximately $480,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the transaction, the chief financial officer now directly owns 34,960 shares in the company, valued at $1,555,370.40. The disclosure for this sale can be found here. Insiders sold 30,203 shares of company stock worth $1,311,891 over the last ninety days. Corporate insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Stock Down 2.8 %

NASDAQ PTGX opened at $44.91 on Wednesday. Protagonist Therapeutics, Inc. has a fifty-two week low of $13.72 and a fifty-two week high of $48.00. The business has a 50 day moving average price of $40.20 and a two-hundred day moving average price of $33.43. The stock has a market cap of $2.65 billion, a PE ratio of 18.41 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, meeting the consensus estimate of ($0.50). The firm had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $40.00 million. Sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 2.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PTGX. BTIG Research increased their target price on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. JMP Securities dropped their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 7th. HC Wainwright lifted their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $47.33.

Protagonist Therapeutics Company Profile

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.