New York State Teachers Retirement System Grows Stock Holdings in Protagonist Therapeutics, Inc. $PTGX

New York State Teachers Retirement System increased its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 18.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,713 shares of the company’s stock after purchasing an additional 8,858 shares during the period. New York State Teachers Retirement System’s holdings in Protagonist Therapeutics were worth $3,079,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PTGX. CWM LLC raised its holdings in shares of Protagonist Therapeutics by 201.5% during the second quarter. CWM LLC now owns 609 shares of the company’s stock valued at $34,000 after purchasing an additional 407 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Protagonist Therapeutics by 153.3% during the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company’s stock valued at $58,000 after purchasing an additional 728 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Protagonist Therapeutics by 141.7% during the first quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company’s stock valued at $59,000 after purchasing an additional 710 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Protagonist Therapeutics during the first quarter valued at approximately $68,000. Finally, GF Fund Management CO. LTD. raised its holdings in shares of Protagonist Therapeutics by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 1,526 shares of the company’s stock valued at $74,000 after purchasing an additional 275 shares during 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 news, Director William D. Waddill sold 12,000 shares of the business’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $81.62, for a total value of $979,440.00. Following the transaction, the director owned 5,130 shares of the company’s stock, valued at approximately $418,710.60. The trade was a 70.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $54.78, for a total transaction of $570,533.70. Following the completion of the transaction, the chief executive officer directly owned 520,603 shares in the company, valued at $28,518,632.34. This trade represents a 1.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock worth $2,043,974 in the last three months. Insiders own 4.90% of the company’s stock.

Analyst Upgrades and Downgrades

PTGX has been the subject of several recent research reports. Leerink Partnrs upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Friday, September 12th. BMO Capital Markets restated an “outperform” rating on shares of Protagonist Therapeutics in a research report on Monday, October 13th. Citigroup boosted their target price on shares of Protagonist Therapeutics from $72.00 to $96.00 and gave the company a “buy” rating in a research report on Friday. Johnson Rice set a $112.00 target price on shares of Protagonist Therapeutics in a research report on Monday, October 13th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.00.

Protagonist Therapeutics Price Performance

PTGX opened at $75.00 on Wednesday. Protagonist Therapeutics, Inc. has a 1-year low of $33.31 and a 1-year high of $93.25. The company has a 50 day simple moving average of $63.41 and a two-hundred day simple moving average of $54.51. The firm has a market cap of $4.67 billion, a P/E ratio of 107.14 and a beta of 2.20.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Wednesday, August 6th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%.The company had revenue of $5.55 million during the quarter, compared to analysts’ expectations of $8.32 million. Equities analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Protagonist Therapeutics 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.