Glenmede Trust Co. NA Has $973,000 Stock Holdings in Protagonist Therapeutics, Inc. $PTGX

by · The Markets Daily

Glenmede Trust Co. NA trimmed its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Free Report) by 27.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,235 shares of the company’s stock after selling 3,520 shares during the quarter. Glenmede Trust Co. NA’s holdings in Protagonist Therapeutics were worth $973,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PTGX. Vanguard Group Inc. increased its holdings in Protagonist Therapeutics by 27.2% during the fourth quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company’s stock worth $472,832,000 after buying an additional 1,156,461 shares during the last quarter. State Street Corp grew its position in shares of Protagonist Therapeutics by 18.5% in the 2nd quarter. State Street Corp now owns 3,207,543 shares of the company’s stock valued at $177,281,000 after acquiring an additional 500,924 shares during the period. Wellington Management Group LLP increased its stake in shares of Protagonist Therapeutics by 66.2% during the 4th quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company’s stock worth $276,992,000 after purchasing an additional 1,262,977 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Protagonist Therapeutics by 9.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,891,527 shares of the company’s stock worth $304,866,000 after purchasing an additional 241,546 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of Protagonist Therapeutics by 46.1% in the 4th quarter. UBS Group AG now owns 2,770,021 shares of the company’s stock valued at $241,934,000 after purchasing an additional 874,013 shares during the period. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Trading Up 6.5%

Shares of NASDAQ PTGX opened at $146.18 on Friday. The firm has a market cap of $9.40 billion, a P/E ratio of 141.92 and a beta of 1.78. The business’s 50 day moving average is $123.38 and its 200-day moving average is $104.93. Protagonist Therapeutics, Inc. has a 1-year low of $50.49 and a 1-year high of $148.00.

Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.02. Protagonist Therapeutics had a return on equity of 12.98% and a net margin of 29.40%.The business had revenue of $213.47 million during the quarter, compared to the consensus estimate of $210.91 million. The firm’s revenue for the quarter was up 3746.8% compared to the same quarter last year. Analysts forecast that Protagonist Therapeutics, Inc. will post 3.69 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the transaction, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at approximately $52,410,617.36. This trade represents a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Waddill sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the transaction, the director directly owned 7,825 shares in the company, valued at approximately $922,880.50. This represents a 53.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 102,000 shares of company stock valued at $10,436,340 in the last three months. Insiders own 5.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PTGX shares. Citigroup raised their target price on shares of Protagonist Therapeutics from $130.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday. Citizens Jmp upped their price objective on Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Weiss Ratings reissued a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. Finally, TD Cowen restated a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $126.71.

Check Out Our Latest Analysis on PTGX

Protagonist Therapeutics Company Profile

(Free Report)

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.

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