Great Lakes Advisors LLC Invests $6.97 Million in Protagonist Therapeutics, Inc. $PTGX

Great Lakes Advisors LLC acquired a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 56,904 shares of the company’s stock, valued at approximately $6,975,000. Great Lakes Advisors LLC owned about 0.09% of Protagonist Therapeutics as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in Protagonist Therapeutics by 110.6% in the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after buying an additional 156 shares during the period. Greenline Wealth Management LLC acquired a new stake in Protagonist Therapeutics during the 4th quarter worth about $27,000. Osaic Holdings Inc. grew its holdings in Protagonist Therapeutics by 79.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after acquiring an additional 525 shares during the period. Hantz Financial Services Inc. lifted 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 purchasing an additional 656 shares during the period. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at about $89,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PTGX shares. Zacks Research downgraded shares of Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Truist Financial boosted their target price on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Weiss Ratings raised shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. TD Cowen restated a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, July 1st. Finally, Wolfe Research started coverage on shares of Protagonist Therapeutics in a report on Thursday, May 21st. They issued an “outperform” rating and a $135.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $140.53.

Protagonist Therapeutics Stock Down 1.5%

Shares of NASDAQ:PTGX opened at $154.94 on Thursday. Protagonist Therapeutics, Inc. has a twelve month low of $54.50 and a twelve month high of $160.81. The stock’s 50 day moving average is $132.99 and its 200-day moving average is $109.36. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 150.43 and a beta of 1.78.

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. Equities research analysts anticipate that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

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, Director William D. Waddill sold 9,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the transaction, the director owned 7,825 shares of the company’s stock, valued at $922,880.50. This represents 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 sold 127,000 shares of company stock worth $17,818,139 over the last ninety days. Insiders own 5.19% of the company’s stock.

Protagonist Therapeutics Company 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.