VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 11,200 Protagonist Therapeutics, Inc. $PTGX

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,200 shares of the company’s stock, valued at approximately $1,373,000.

Several other institutional investors also recently modified their holdings of the stock. Greenline Wealth Management LLC bought a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at about $27,000. Keating Financial Advisory Services Inc. bought a new position in Protagonist Therapeutics during the 2nd quarter worth approximately $30,000. Allworth Financial LP acquired a new position in Protagonist Therapeutics during the second quarter valued at approximately $31,000. Quantbot Technologies LP acquired a new position in Protagonist Therapeutics during the second quarter valued at approximately $42,000. Finally, Osaic Holdings Inc. increased its stake in Protagonist Therapeutics by 79.5% in the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock valued at $65,000 after purchasing an additional 525 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Citigroup increased their target price on shares of Protagonist Therapeutics from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, August 31st. The Goldman Sachs Group upgraded shares of Protagonist Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $186.00 in a research report on Monday, August 10th. Wolfe Research reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a research note on Monday, August 31st. Wall Street Zen upgraded Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 22nd. Finally, Zacks Research cut Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Sixteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $147.13.

Insiders Place Their Bets

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 65,761 shares of Protagonist Therapeutics stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $149.11, for a total value of $9,805,622.71. Following the sale, the chief executive officer owned 523,478 shares of the company’s stock, valued at $78,055,804.58. This trade represents a 11.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 dated Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total value of $1,061,460.00. Following the completion of the sale, the director owned 7,825 shares in the company, valued at approximately $922,880.50. This trade represents a 53.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 234,000 shares of company stock valued at $34,192,827. Company insiders own 5.19% of the company’s stock.

Protagonist Therapeutics Stock Up 2.1%

Protagonist Therapeutics stock opened at $148.18 on Friday. The stock has a market capitalization of $9.59 billion, a PE ratio of 143.87 and a beta of 1.80. Protagonist Therapeutics, Inc. has a twelve month low of $57.90 and a twelve month high of $160.81. The company has a 50 day moving average of $143.14 and a 200-day moving average of $116.95.

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

Protagonist Therapeutics Profile

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on developing peptide-based medicines for immune-mediated diseases and hematologic disorders. The company uses its peptide discovery and development platform to create therapies designed to selectively modulate disease-related biological pathways.

Protagonist’s pipeline has included icotrokinra (also known as JNJ-2113), an oral peptide that targets the interleukin-23 receptor and is being developed for inflammatory and immune-mediated conditions in collaboration with Johnson & Johnson.