Bank of New York Mellon Corp Sells 8,923 Shares of Protagonist Therapeutics, Inc. $PTGX

Bank of New York Mellon Corp lowered its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 341,465 shares of the company’s stock after selling 8,923 shares during the quarter. Bank of New York Mellon Corp’s holdings in Protagonist Therapeutics were worth $35,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. NEXTBio Capital Management LP acquired a new stake in shares of Protagonist Therapeutics in the 4th quarter worth about $20,055,000. Jennison Associates LLC purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at $28,924,000. Clearbridge Investments LLC purchased a new position in Protagonist Therapeutics in the fourth quarter valued at about $42,783,000. Keystone Investors PTE Ltd. purchased a new position in Protagonist Therapeutics in the fourth quarter valued at approximately $2,305,000. Finally, Eagle Health Investments LP purchased a new stake in Protagonist Therapeutics in the 4th quarter worth about $5,005,000. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Up 0.5%

Shares of PTGX opened at $136.11 on Friday. Protagonist Therapeutics, Inc. has a twelve month low of $50.49 and a twelve month high of $143.29. The firm has a 50 day moving average of $116.79 and a 200 day moving average of $101.33. The company has a market capitalization of $8.75 billion, a P/E ratio of -75.20 and a beta of 1.79.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.50) by $0.55. The company had revenue of $56.37 million for the quarter, compared to analysts’ expectations 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, sell-side analysts expect that Protagonist Therapeutics, Inc. will post 3.69 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on PTGX. Citizens Jmp boosted their target price on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a report on Wednesday, May 6th. Zacks Research raised shares of Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Truist Financial raised their price target on shares of Protagonist Therapeutics from $121.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $110.00 price target on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Insider Buying and Selling at Protagonist Therapeutics

In related news, Director Bryan Giraudo sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $100.00, for a total transaction of $600,000.00. Following the completion of the sale, the director directly owned 31,825 shares in the company, valued at approximately $3,182,500. The trade was a 15.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William D. Waddill sold 9,000 shares of the company’s stock in a transaction dated 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 161,130 shares of company stock worth $16,355,220 in the last three months. 5.19% of the stock is currently owned by company insiders.

About Protagonist Therapeutics

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.