Protagonist Therapeutics, Inc. $PTGX Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 22.6% in the third quarter, HoldingsChannel reports. The firm owned 21,736 shares of the company’s stock after selling 6,348 shares during the period. State of Alaska Department of Revenue’s holdings in Protagonist Therapeutics were worth $3,060,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Protagonist Therapeutics in the second quarter valued at $1,263,535,000. Janus Henderson Group PLC raised its holdings in shares of Protagonist Therapeutics by 9.1% during the first quarter. Janus Henderson Group PLC now owns 2,891,527 shares of the company’s stock valued at $304,866,000 after purchasing an additional 241,546 shares during the period. Johnson & Johnson acquired a new position in shares of Protagonist Therapeutics during the second quarter valued at about $300,220,852. Jupiter Topco LLC acquired a new position in shares of Protagonist Therapeutics during the second quarter valued at about $261,039,000. Finally, Bank of America Corp DE acquired a new position in shares of Protagonist Therapeutics during the second quarter valued at about $162,357,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Stock Down 5.7%

Shares of PTGX opened at $128.75 on Friday. Protagonist Therapeutics, Inc. has a 12-month low of $73.08 and a 12-month high of $160.81. The business’s fifty day moving average is $145.39 and its 200 day moving average is $124.94. The stock has a market cap of $8.33 billion, a P/E ratio of 125.00 and a beta of 1.53.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.02. The business had revenue of $213.47 million during the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The business’s revenue was up 3746.8% on a year-over-year basis. On average, analysts expect that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 65,761 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $149.11, for a total value of $9,805,622.71. Following the transaction, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at approximately $78,055,804.58. This trade represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Asif Ali sold 58,629 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $141.78, for a total transaction of $8,312,419.62. Following the transaction, the chief financial officer owned 59,003 shares of the company’s stock, valued at $8,365,445.34. This represents a 49.84% 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. In the last 90 days, insiders have sold 283,629 shares of company stock worth $41,443,786. Corporate insiders own 5.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Johnson Rice set a $165.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, July 17th. Wall Street Zen lowered Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 10th. Barclays boosted their target price on Protagonist Therapeutics from $153.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Zacks Research raised Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Weiss Ratings raised Protagonist Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $154.44.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ:PTGX) is a clinical-stage biopharmaceutical company focused on developing peptide-based medicines for chronic immune-mediated and hematologic diseases. The company uses its proprietary technology platform to design peptides intended to selectively interact with disease-relevant biological targets.

Protagonist’s pipeline includes icotrokinra, formerly known as JNJ-2113, an investigational oral peptide that selectively targets the interleukin-23 receptor.