50,000 Shares in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Acquired by Swedbank AB

Swedbank AB purchased a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 50,000 shares of the company’s stock, valued at approximately $2,250,000.

A number of other institutional investors also recently modified their holdings of the company. Creative Planning bought a new stake in shares of Protagonist Therapeutics during the 3rd quarter worth $338,000. Exchange Traded Concepts LLC bought a new stake in Protagonist Therapeutics during the third quarter valued at about $43,000. Inspire Investing LLC grew its position in shares of Protagonist Therapeutics by 256.8% in the third quarter. Inspire Investing LLC now owns 36,514 shares of the company’s stock valued at $1,643,000 after purchasing an additional 26,280 shares during the last quarter. CWM LLC increased its stake in shares of Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after purchasing an additional 1,147 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Protagonist Therapeutics by 749.2% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after purchasing an additional 487 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Performance

Shares of Protagonist Therapeutics stock opened at $46.97 on Friday. The firm has a market cap of $2.77 billion, a P/E ratio of 17.93 and a beta of 2.17. The firm’s 50-day simple moving average is $43.91 and its 200-day simple moving average is $35.95. Protagonist Therapeutics, Inc. has a twelve month low of $13.72 and a twelve month high of $48.32.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50). The company had revenue of $4.17 million for the quarter, compared to analyst estimates of $40.00 million. On average, equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PTGX has been the topic of several recent analyst reports. Truist Financial started coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock. BTIG Research upped their target price on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price objective on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Protagonist Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $49.86.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the transaction, the chief financial officer now directly owns 34,960 shares in the company, valued at $1,555,370.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total value of $320,000.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $480,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Asif Ali sold 14,203 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now owns 34,960 shares in the company, valued at approximately $1,555,370.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,203 shares of company stock valued at $1,311,891 in the last 90 days. 5.40% of the stock is owned by corporate insiders.

Protagonist Therapeutics 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.