E Fund Management Co. Ltd. Sells 9,034 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

E Fund Management Co. Ltd. trimmed its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 50.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,957 shares of the company’s stock after selling 9,034 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Protagonist Therapeutics were worth $205,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PTGX. China Universal Asset Management Co. Ltd. lifted its stake in Protagonist Therapeutics by 96.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,473 shares of the company’s stock worth $25,000 after purchasing an additional 723 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Protagonist Therapeutics in the fourth quarter worth about $210,000. Teacher Retirement System of Texas increased its stake in Protagonist Therapeutics by 6.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 12,954 shares of the company’s stock worth $216,000 after buying an additional 740 shares during the period. Obermeyer Wood Investment Counsel Lllp lifted its holdings in Protagonist Therapeutics by 9.4% during the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 13,792 shares of the company’s stock valued at $230,000 after buying an additional 1,180 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Protagonist Therapeutics by 11.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,338 shares of the company’s stock worth $237,000 after acquiring an additional 1,093 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PTGX. JPMorgan Chase & Co. increased their price objective on Protagonist Therapeutics from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. StockNews.com upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of Protagonist Therapeutics in a report on Thursday. Finally, JMP Securities raised their target price on shares of Protagonist Therapeutics from $42.00 to $45.00 and gave the company a “market outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Protagonist Therapeutics Stock Up 4.3 %

Shares of PTGX opened at $28.27 on Friday. The company has a 50 day moving average of $27.85 and a two-hundred day moving average of $23.92. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 11.59 and a beta of 2.09. Protagonist Therapeutics, Inc. has a twelve month low of $13.72 and a twelve month high of $33.34.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, February 27th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.39. The business had revenue of $60.00 million for the quarter, compared to analysts’ expectations of $60.00 million. On average, sell-side analysts expect that Protagonist Therapeutics, Inc. will post 1.18 EPS for the current year.

Insider Activity

In other Protagonist Therapeutics news, Director William D. Waddill sold 12,975 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $31.34, for a total transaction of $406,636.50. Following the sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $376,080. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Protagonist Therapeutics news, Director William D. Waddill sold 12,975 shares of Protagonist Therapeutics stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $31.34, for a total transaction of $406,636.50. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $376,080. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Asif Ali sold 14,248 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $32.24, for a total value of $459,355.52. Following the completion of the transaction, the chief financial officer now directly owns 38,397 shares in the company, valued at $1,237,919.28. The disclosure for this sale can be found here. Insiders have sold a total of 83,457 shares of company stock worth $2,553,328 over the last 90 days. 5.00% of the stock is currently 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.