Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stake Decreased by American Century Companies Inc.

American Century Companies Inc. trimmed its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 83.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,311 shares of the company’s stock after selling 133,009 shares during the quarter. American Century Companies Inc.’s holdings in Protagonist Therapeutics were worth $946,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kynam Capital Management LP boosted its position in Protagonist Therapeutics by 10.2% during the 4th quarter. Kynam Capital Management LP now owns 2,004,875 shares of the company’s stock worth $45,972,000 after acquiring an additional 186,218 shares during the period. Superstring Capital Management LP bought a new position in Protagonist Therapeutics in the 4th quarter valued at about $8,694,000. ADAR1 Capital Management LLC acquired a new position in Protagonist Therapeutics during the 4th quarter valued at about $4,606,000. Birchview Capital LP raised its position in shares of Protagonist Therapeutics by 26.3% during the 4th quarter. Birchview Capital LP now owns 48,000 shares of the company’s stock worth $1,101,000 after buying an additional 10,000 shares in the last quarter. Finally, Opaleye Management Inc. bought a new position in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $2,584,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PTGX shares. BTIG Research boosted 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. JMP Securities cut their price objective on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. 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. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective for the company. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $49.86.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the sale, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $540,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the transaction, the chief financial officer now owns 34,960 shares in the company, valued at approximately $1,555,370.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,203 shares of company stock valued at $1,311,891. Company insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Stock Down 1.4 %

NASDAQ:PTGX opened at $44.37 on Wednesday. The stock has a fifty day simple moving average of $41.94 and a 200 day simple moving average of $34.40. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 18.18 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 1-year low of $13.72 and a 1-year high of $48.00.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). The firm had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. Equities analysts predict that Protagonist Therapeutics, Inc. will post 2.31 earnings per share for the current year.

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.