Protagonist Therapeutics, Inc. $PTGX Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. cut its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 17.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,894 shares of the company’s stock after selling 10,000 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.08% of Protagonist Therapeutics worth $4,270,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada increased its position in Protagonist Therapeutics by 30.6% in the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock valued at $482,000 after acquiring an additional 2,334 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Protagonist Therapeutics by 0.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after purchasing an additional 348 shares in the last quarter. Millennium Management LLC lifted its position in shares of Protagonist Therapeutics by 283.6% during the 1st quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock valued at $6,493,000 after acquiring an additional 99,269 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at $987,000. Finally, Guggenheim Capital LLC lifted its position in shares of Protagonist Therapeutics by 1.6% during the 2nd quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock valued at $1,062,000 after acquiring an additional 303 shares during the last quarter. 98.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total value of $7,509,000.00. Following the completion of the sale, the chief executive officer owned 523,478 shares of the company’s stock, valued at $52,410,617.36. This trade represents a 12.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Harold E. Selick sold 24,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $105.00, for a total transaction of $2,520,000.00. Following the completion of the sale, the director directly owned 60,845 shares of the company’s stock, valued at approximately $6,388,725. This represents a 28.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 263,345 shares of company stock valued at $26,707,266 over the last quarter. Company insiders own 5.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PTGX. Wolfe Research began coverage on Protagonist Therapeutics in a report on Thursday, May 21st. They issued an “outperform” rating and a $135.00 target price for the company. Citizens Jmp increased their price objective on Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Barclays raised their price target on Protagonist Therapeutics from $113.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Finally, TD Cowen raised their price target on Protagonist Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $115.21.

Protagonist Therapeutics Stock Up 2.3%

Shares of PTGX opened at $95.41 on Thursday. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of -52.71 and a beta of 1.85. Protagonist Therapeutics, Inc. has a 12 month low of $49.38 and a 12 month high of $107.84. The company has a 50-day moving average price of $101.42 and a two-hundred day moving average price of $92.32.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.55. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. The company had revenue of $56.37 million during the quarter, compared to analysts’ expectations of $11.70 million. Equities research analysts expect that Protagonist Therapeutics, Inc. will post 3.29 EPS for the current fiscal year.

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.