Swedbank AB Buys New Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Swedbank AB purchased a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 50,000 shares of the company’s stock, valued at approximately $2,250,000. Swedbank AB owned approximately 0.09% of Protagonist Therapeutics at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC raised its holdings in Protagonist Therapeutics by 236.8% during the first quarter. Los Angeles Capital Management LLC now owns 30,827 shares of the company’s stock worth $892,000 after purchasing an additional 21,673 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Protagonist Therapeutics by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 34,895 shares of the company’s stock worth $1,010,000 after buying an additional 849 shares in the last quarter. Privium Fund Management B.V. acquired a new stake in shares of Protagonist Therapeutics in the first quarter valued at $3,299,000. GSA Capital Partners LLP boosted its stake in Protagonist Therapeutics by 179.8% during the first quarter. GSA Capital Partners LLP now owns 55,359 shares of the company’s stock valued at $1,602,000 after buying an additional 35,571 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Protagonist Therapeutics by 12.2% during the first quarter. Sei Investments Co. now owns 41,758 shares of the company’s stock worth $1,208,000 after acquiring an additional 4,529 shares during the period. 98.63% of the stock is owned by institutional investors and hedge funds.

Protagonist Therapeutics Trading Down 0.1 %

Shares of PTGX stock opened at $46.97 on Friday. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 17.93 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 1-year low of $13.72 and a 1-year high of $48.32. The stock’s fifty day simple moving average is $43.91 and its 200-day simple moving average is $35.95.

Protagonist Therapeutics (NASDAQ:PTGX) last released 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 business had revenue of $4.17 million for the quarter, compared to analysts’ expectations of $40.00 million. On average, sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PTGX. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. HC Wainwright lifted their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. lifted 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. Finally, JMP Securities cut their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $49.86.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the 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 sale, the chief financial officer now owns 34,960 shares in the company, valued at $1,555,370.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the transaction, the chief financial officer now owns 34,960 shares in the company, valued at $1,555,370.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the sale, the director now directly owns 12,000 shares of the company’s stock, valued at $540,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,203 shares of company stock valued at $1,311,891. Corporate insiders own 5.40% of the company’s stock.

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.