ProShare Advisors LLC Sells 3,075 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

ProShare Advisors LLC cut its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 21.4% during the 2nd quarter, Holdings Channel reports. The fund owned 11,270 shares of the company’s stock after selling 3,075 shares during the period. ProShare Advisors LLC’s holdings in Protagonist Therapeutics were worth $391,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Russell Investments Group Ltd. bought a new position in shares of Protagonist Therapeutics during the 1st quarter worth about $35,000. Lazard Asset Management LLC acquired a new position in Protagonist Therapeutics during the 1st quarter worth approximately $69,000. Seven Eight Capital LP bought a new position in Protagonist Therapeutics in the first quarter worth approximately $202,000. CANADA LIFE ASSURANCE Co grew its stake in Protagonist Therapeutics by 74.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock valued at $263,000 after acquiring an additional 3,870 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Protagonist Therapeutics during the second quarter valued at approximately $379,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Stock Down 1.4 %

PTGX stock opened at $44.37 on Wednesday. The firm has a market cap of $2.60 billion, a PE ratio of 18.18 and a beta of 2.17. The business has a 50 day moving average of $41.94 and a 200-day moving average of $34.40. Protagonist Therapeutics, Inc. has a 12-month low of $13.72 and a 12-month high of $48.00.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.50). The business had revenue of $4.17 million during the quarter, compared to the consensus estimate of $40.00 million. On average, research analysts expect that Protagonist Therapeutics, Inc. will post 2.31 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on PTGX shares. HC Wainwright boosted their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Truist Financial assumed coverage on Protagonist Therapeutics in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Protagonist Therapeutics has an average rating of “Buy” and a consensus target price of $49.86.

Insider Activity at Protagonist Therapeutics

In related news, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the sale, the chief financial officer now owns 34,960 shares in the company, valued at $1,555,370.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the sale, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director now owns 12,000 shares in the company, valued at $540,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,203 shares of company stock worth $1,311,891. 5.40% of the stock is owned by company insiders.

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.