Protagonist Therapeutics, Inc. $PTGX Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 650.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,916 shares of the company’s stock after purchasing an additional 25,931 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Protagonist Therapeutics were worth $3,101,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its position in shares of Protagonist Therapeutics by 110.6% in the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after purchasing an additional 156 shares during the period. Greenline Wealth Management LLC bought a new position in Protagonist Therapeutics during the fourth quarter valued at approximately $27,000. Osaic Holdings Inc. raised its holdings in Protagonist Therapeutics by 79.5% during the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock valued at $65,000 after buying an additional 525 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Protagonist Therapeutics by 222.4% in the 4th quarter. Hantz Financial Services Inc. now owns 951 shares of the company’s stock valued at $83,000 after acquiring an additional 656 shares in the last quarter. Finally, Canton Hathaway LLC acquired a new position in Protagonist Therapeutics during the 4th quarter worth $87,000. 98.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PTGX has been the topic of several research reports. The Goldman Sachs Group restated a “neutral” rating and set a $110.00 price target on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. Wall Street Zen upgraded Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wedbush increased their price objective on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Citizens Jmp boosted their price objective on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 6th. Finally, Truist Financial raised their target price on shares of Protagonist Therapeutics from $121.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Insiders Place Their Bets

In related news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer owned 523,478 shares in the company, valued at $52,410,617.36. The trade was a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Waddill sold 9,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, June 23rd. The stock was 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 of the company’s stock, valued at approximately $922,880.50. The trade was a 53.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 161,130 shares of company stock valued at $16,355,220 in the last ninety days. 5.19% of the stock is currently owned by insiders.

Protagonist Therapeutics Stock Up 0.5%

Shares of NASDAQ:PTGX opened at $136.11 on Friday. Protagonist Therapeutics, Inc. has a 12-month low of $50.49 and a 12-month high of $143.29. The company’s 50 day moving average price is $116.79 and its two-hundred day moving average price is $101.33. The firm has a market cap of $8.75 billion, a PE ratio of -75.20 and a beta of 1.79.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.55. The business had revenue of $56.37 million during the quarter, compared to the consensus estimate of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. On average, research analysts expect that Protagonist Therapeutics, Inc. will post 3.69 EPS for the current year.

Protagonist Therapeutics 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 α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.