Wellington Management Group LLP Grows Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Wellington Management Group LLP increased its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 3,025.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 940,077 shares of the company’s stock after purchasing an additional 909,998 shares during the period. Wellington Management Group LLP’s holdings in Protagonist Therapeutics were worth $36,287,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. FNY Investment Advisers LLC bought a new stake in shares of Protagonist Therapeutics in the fourth quarter worth approximately $38,000. KBC Group NV grew its position in 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 purchasing an additional 737 shares during the period. Nisa Investment Advisors LLC raised its stake in Protagonist Therapeutics by 10.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock valued at $121,000 after buying an additional 295 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Protagonist Therapeutics during the 4th quarter valued at $211,000. Finally, Caprock Group LLC purchased a new position in shares of Protagonist Therapeutics in the 4th quarter worth $224,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Analyst Ratings Changes

PTGX has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, March 28th. JMP Securities reaffirmed a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 7th. BMO Capital Markets raised their price objective on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Truist Financial upped their target price on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Finally, HC Wainwright reissued a “buy” rating and set a $54.00 price objective on shares of Protagonist Therapeutics in a research report on Monday, March 10th. Two research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.56.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX opened at $44.44 on Monday. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 16.71 and a beta of 2.30. The firm has a fifty day moving average price of $43.48 and a 200 day moving average price of $42.91. Protagonist Therapeutics, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last posted 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. The company had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. As a group, research analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Insider Activity

In related news, Director William D. Waddill sold 4,000 shares of Protagonist Therapeutics stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.25, for a total value of $217,000.00. Following the completion of the transaction, the director now owns 13,130 shares in the company, valued at approximately $712,302.50. This trade represents a 23.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Asif Ali sold 24,903 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $58.73, for a total value of $1,462,553.19. Following the sale, the chief financial officer now owns 62,821 shares in the company, valued at approximately $3,689,477.33. This trade represents a 28.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,776 shares of company stock worth $3,585,010. 5.40% of the stock is currently owned by 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.