American Century Companies Inc. Purchases 353,511 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

American Century Companies Inc. boosted its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 61.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 928,286 shares of the company’s stock after purchasing an additional 353,511 shares during the period. American Century Companies Inc. owned about 1.56% of Protagonist Therapeutics worth $35,832,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. State Street Corp raised its holdings in shares of Protagonist Therapeutics by 52.9% during the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after buying an additional 1,101,218 shares in the last quarter. Principal Financial Group Inc. grew its position in Protagonist Therapeutics by 3,099.4% in the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after acquiring an additional 310,804 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Protagonist Therapeutics during the fourth quarter worth about $11,708,000. Pacer Advisors Inc. lifted its holdings in shares of Protagonist Therapeutics by 8.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company’s stock worth $72,432,000 after acquiring an additional 142,376 shares during the last quarter. Finally, RTW Investments LP boosted its stake in shares of Protagonist Therapeutics by 2.6% in the 3rd quarter. RTW Investments LP now owns 5,426,112 shares of the company’s stock valued at $244,175,000 after purchasing an additional 139,708 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Price Performance

Shares of PTGX opened at $48.88 on Friday. The business has a 50-day moving average of $42.54 and a 200-day moving average of $42.90. Protagonist Therapeutics, Inc. has a 1 year low of $24.22 and a 1 year high of $60.60. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 18.38 and a beta of 2.34.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The firm had revenue of $170.64 million during the quarter, compared to analyst estimates of $56.65 million. As a group, sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PTGX. The Goldman Sachs Group lowered their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Truist Financial increased their price target on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Wedbush restated an “outperform” rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a research report on Friday. HC Wainwright reiterated a “buy” rating and issued a $54.00 target price on shares of Protagonist Therapeutics in a research report on Monday, March 10th. Finally, BTIG Research set a $73.00 price target on Protagonist Therapeutics in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $62.56.

Insider Buying and Selling

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of the sale, the chief executive officer now owns 540,260 shares of the company’s stock, valued at $20,627,126.80. This trade represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Arturo Md Molina sold 30,514 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $55.74, for a total value of $1,700,850.36. Following the completion of the transaction, the insider now directly owns 83,892 shares in the company, valued at approximately $4,676,140.08. This trade represents a 26.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,776 shares of company stock valued at $3,585,010 over the last quarter. Insiders own 5.40% of the company’s stock.

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.