Erste Asset Management GmbH Invests $526,000 in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Erste Asset Management GmbH bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 13,500 shares of the company’s stock, valued at approximately $526,000.

Several other institutional investors have also recently made changes to their positions in PTGX. FNY Investment Advisers LLC purchased a new stake in shares of Protagonist Therapeutics in the 4th quarter worth approximately $38,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Protagonist Therapeutics in the 3rd quarter worth approximately $69,000. KBC Group NV grew its stake in shares of Protagonist Therapeutics by 54.4% in the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after buying an additional 737 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Protagonist Therapeutics by 10.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock worth $121,000 after buying an additional 295 shares during the last quarter. Finally, Caprock Group LLC purchased a new stake in Protagonist Therapeutics during the 4th quarter valued at $224,000. Institutional investors own 98.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. The Goldman Sachs Group cut their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. StockNews.com downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets increased their target price on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. BTIG Research set a $73.00 target price on Protagonist Therapeutics in a research note on Monday, March 3rd. Finally, Wedbush reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.22.

Protagonist Therapeutics Stock Performance

Shares of Protagonist Therapeutics stock opened at $54.78 on Friday. Protagonist Therapeutics, Inc. has a one year low of $24.22 and a one year high of $60.60. The stock’s fifty day moving average is $39.63 and its 200 day moving average is $42.24. The stock has a market cap of $3.36 billion, a P/E ratio of 20.59 and a beta of 2.34.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The company had revenue of $170.64 million for the quarter, compared to analysts’ expectations of $56.65 million. Analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 24,903 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total transaction of $1,462,553.19. Following the sale, the chief financial officer now directly owns 62,821 shares of the company’s stock, valued at $3,689,477.33. This trade represents a 28.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the sale, the chief executive officer now directly owns 540,260 shares in the company, valued at approximately $20,627,126.80. This represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,776 shares of company stock valued at $3,368,010 over the last ninety days. 5.40% of the stock is currently owned by company insiders.

Protagonist Therapeutics Company 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.