Glenmede Trust Co. NA Sells 3,520 Shares of Protagonist Therapeutics, Inc. $PTGX

Glenmede Trust Co. NA cut its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 27.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 9,235 shares of the company’s stock after selling 3,520 shares during the quarter. Glenmede Trust Co. NA’s holdings in Protagonist Therapeutics were worth $973,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. NEXTBio Capital Management LP bought a new position in Protagonist Therapeutics in the 4th quarter valued at about $20,055,000. Jennison Associates LLC bought a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $28,924,000. Clearbridge Investments LLC acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $42,783,000. Keystone Investors PTE Ltd. acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $2,305,000. Finally, Stempoint Capital LP increased its stake in Protagonist Therapeutics by 22.1% in the first quarter. Stempoint Capital LP now owns 72,577 shares of the company’s stock valued at $7,650,000 after acquiring an additional 13,147 shares during the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citizens Jmp raised their target price on Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a report on Wednesday, May 6th. Wall Street Zen raised Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Johnson Rice set a $165.00 target price on shares of Protagonist Therapeutics in a report on Friday, July 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. Finally, Wedbush upped their price objective on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $126.71.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ PTGX opened at $146.18 on Friday. The firm has a 50 day moving average price of $123.38 and a two-hundred day moving average price of $104.93. The stock has a market cap of $9.40 billion, a P/E ratio of 141.92 and a beta of 1.78. Protagonist Therapeutics, Inc. has a 52-week low of $50.49 and a 52-week high of $148.00.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.02. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.98%. The company had revenue of $213.47 million for the quarter, compared to analyst estimates of $210.91 million. The business’s revenue for the quarter was up 3746.8% on a year-over-year basis. Analysts predict that Protagonist Therapeutics, Inc. will post 3.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 9,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the transaction, the director directly owned 7,825 shares of the company’s stock, valued at approximately $922,880.50. The trade was a 53.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total value of $7,509,000.00. Following the completion of the sale, the chief executive officer owned 523,478 shares in the company, valued at $52,410,617.36. This trade represents a 12.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 102,000 shares of company stock valued at $10,436,340. 5.19% of the stock is owned by corporate insiders.

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.