Everence Capital Management Inc. Makes New $317,000 Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Everence Capital Management Inc. purchased a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,050 shares of the company’s stock, valued at approximately $317,000.

Several other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in Protagonist Therapeutics by 24,162.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 103,842 shares of the company’s stock worth $4,673,000 after acquiring an additional 103,414 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in Protagonist Therapeutics in the third quarter worth about $316,000. Swedbank AB acquired a new stake in shares of Protagonist Therapeutics during the third quarter worth about $2,250,000. Creative Planning acquired a new stake in shares of Protagonist Therapeutics during the third quarter worth about $338,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Protagonist Therapeutics during the third quarter worth about $43,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Trading Down 2.2 %

Shares of PTGX stock opened at $45.96 on Tuesday. The stock has a 50 day moving average of $44.02 and a 200 day moving average of $36.19. The stock has a market cap of $2.70 billion, a P/E ratio of 18.84 and a beta of 2.17. Protagonist Therapeutics, Inc. has a twelve month low of $13.72 and a twelve month high of $48.32.

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

Insider Activity

In other news, CFO Asif Ali sold 14,203 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 34,960 shares in the company, valued at $1,555,370.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now directly owns 12,000 shares in the company, valued at approximately $540,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Asif Ali sold 14,203 shares of the business’s 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 of the company’s stock, valued at $1,555,370.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,203 shares of company stock worth $1,311,891 over the last three months. 5.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BTIG Research lifted their target price on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Truist Financial assumed coverage on Protagonist Therapeutics in a report on Monday, September 9th. They set a “buy” rating and a $60.00 target price for the company. HC Wainwright lifted their target price on Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. lifted their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $49.86.

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.