Sierra Summit Advisors LLC Grows Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Sierra Summit Advisors LLC raised its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 5.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,282 shares of the company’s stock after purchasing an additional 1,115 shares during the period. Sierra Summit Advisors LLC’s holdings in Protagonist Therapeutics were worth $860,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PTGX. State Street Corp boosted its position in Protagonist Therapeutics by 52.9% during the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock valued at $143,259,000 after acquiring an additional 1,101,218 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Protagonist Therapeutics by 3,025.4% during the 4th quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock worth $36,287,000 after purchasing an additional 909,998 shares during the last quarter. American Century Companies Inc. boosted its position in Protagonist Therapeutics by 61.5% during the fourth quarter. American Century Companies Inc. now owns 928,286 shares of the company’s stock valued at $35,832,000 after purchasing an additional 353,511 shares in the last quarter. Principal Financial Group Inc. boosted its position in Protagonist Therapeutics by 3,099.4% during the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after purchasing an additional 310,804 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Protagonist Therapeutics in the fourth quarter valued at about $11,708,000. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Performance

Shares of PTGX stock opened at $44.44 on Monday. Protagonist Therapeutics, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $60.60. The firm has a market capitalization of $2.73 billion, a PE ratio of 16.71 and a beta of 2.30. The stock’s 50-day simple moving average is $43.48 and its 200-day simple moving average is $42.91.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The company had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. Sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the sale, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at $20,627,126.80. This trade represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arturo Md Molina sold 30,514 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $55.74, for a total value of $1,700,850.36. Following the completion of the transaction, the insider now directly owns 83,892 shares of the company’s stock, valued at $4,676,140.08. The trade was a 26.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,776 shares of company stock valued at $3,585,010 over the last 90 days. Insiders own 5.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PTGX. JMP Securities restated a “market outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a report on Friday, February 7th. Wedbush reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Protagonist Therapeutics in a report on Friday, March 28th. The Goldman Sachs Group reduced their price target on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. raised their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $54.00 price target on shares of Protagonist Therapeutics in a research note on Monday, March 10th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $62.56.

About Protagonist Therapeutics

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.