Northwestern Mutual Wealth Management Co. Sells 10,000 Shares of Protagonist Therapeutics, Inc. $PTGX

Northwestern Mutual Wealth Management Co. reduced its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 17.0% during the 4th quarter, HoldingsChannel reports. The fund owned 48,894 shares of the company’s stock after selling 10,000 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Protagonist Therapeutics were worth $4,270,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PTGX. Royal Bank of Canada lifted its position in Protagonist Therapeutics by 30.6% during the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after buying an additional 2,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Protagonist Therapeutics by 0.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after purchasing an additional 348 shares during the last quarter. Millennium Management LLC lifted its stake in Protagonist Therapeutics by 283.6% in the 1st quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock valued at $6,493,000 after purchasing an additional 99,269 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Protagonist Therapeutics in the 2nd quarter valued at about $987,000. Finally, Guggenheim Capital LLC lifted its stake in Protagonist Therapeutics by 1.6% in the 2nd quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock valued at $1,062,000 after purchasing an additional 303 shares during the last quarter. 98.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Bryan Giraudo sold 36,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $100.14, for a total transaction of $3,605,040.00. Following the completion of the transaction, the director owned 27,825 shares of the company’s stock, valued at approximately $2,786,395.50. This trade represents a 56.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arturo Md Molina sold 15,000 shares of the firm’s stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $104.79, for a total transaction of $1,571,850.00. Following the transaction, the insider directly owned 84,115 shares of the company’s stock, valued at $8,814,410.85. The trade was a 15.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 263,345 shares of company stock worth $26,707,266 over the last 90 days. Insiders own 5.19% of the company’s stock.

Protagonist Therapeutics Trading Up 2.3%

Shares of Protagonist Therapeutics stock opened at $95.41 on Thursday. The company has a 50 day moving average of $101.42 and a 200-day moving average of $92.32. Protagonist Therapeutics, Inc. has a 1-year low of $49.38 and a 1-year high of $107.84. The company has a market cap of $6.14 billion, a PE ratio of -52.71 and a beta of 1.85.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.55. The company had revenue of $56.37 million during the quarter, compared to the consensus estimate of $11.70 million. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. Research analysts forecast that Protagonist Therapeutics, Inc. will post 3.29 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on PTGX. Wedbush upped their price target on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Leerink Partners upped their price target on shares of Protagonist Therapeutics from $107.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, March 19th. JPMorgan Chase & Co. upped their price target on shares of Protagonist Therapeutics from $95.00 to $106.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Jefferies Financial Group reiterated a “buy” rating and issued a $121.00 price target on shares of Protagonist Therapeutics in a research note on Wednesday, March 18th. Finally, Truist Financial upped their price target on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.21.

About Protagonist Therapeutics

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 ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.