108,555 Shares in Protagonist Therapeutics, Inc. $PTGX Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the second quarter, Holdings Channel reports. The institutional investor acquired 108,555 shares of the company’s stock, valued at approximately $13,307,000.

Several other institutional investors have also recently added to or reduced their stakes in PTGX. Keating Financial Advisory Services Inc. purchased a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at $30,000. Allworth Financial LP purchased a new position in Protagonist Therapeutics in the second quarter worth approximately $31,000. Farther Finance Advisors LLC lifted its position in shares of Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 156 shares during the last quarter. Greenline Wealth Management LLC purchased a new stake in Protagonist Therapeutics during the 4th quarter worth about $27,000. Finally, Quantbot Technologies LP acquired a new position in Protagonist Therapeutics in the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

PTGX has been the subject of several research analyst reports. Citigroup upped their price objective on shares of Protagonist Therapeutics from $130.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wedbush boosted their price objective on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Wall Street Zen upgraded Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 22nd. Truist Financial increased their price target on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, UBS Group raised Protagonist Therapeutics to a “buy” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.53.

Protagonist Therapeutics Stock Down 3.5%

PTGX opened at $144.33 on Friday. The firm has a market cap of $9.34 billion, a P/E ratio of 140.13 and a beta of 1.78. The business’s fifty day simple moving average is $138.51 and its 200 day simple moving average is $112.49. Protagonist Therapeutics, Inc. has a 52 week low of $54.50 and a 52 week high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.02. The firm had revenue of $213.47 million during the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The company’s revenue was up 3746.8% compared to the same quarter last year. As a group, equities analysts expect that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 34,239 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $148.52, for a total value of $5,085,176.28. Following the completion of the transaction, the chief executive officer owned 523,478 shares of the company’s stock, valued at $77,746,952.56. The trade was a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William D. Waddill sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the completion of the transaction, the director directly owned 7,825 shares of the company’s stock, valued at approximately $922,880.50. This represents a 53.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 118,000 shares of company stock valued at $16,921,379. Insiders own 5.19% of the company’s stock.

Protagonist Therapeutics Company 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 ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.