Nan Fung Trinity HK Ltd. Invests $7.46 Million in Protagonist Therapeutics, Inc. $PTGX

Nan Fung Trinity HK Ltd. purchased a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 135,050 shares of the company’s stock, valued at approximately $7,464,000.

A number of other large investors have also recently bought and sold shares of the business. Hsbc Holdings PLC lifted its position in shares of Protagonist Therapeutics by 4.1% in the first quarter. Hsbc Holdings PLC now owns 8,458 shares of the company’s stock worth $405,000 after buying an additional 330 shares during the last quarter. Fred Alger Management LLC bought a new position in shares of Protagonist Therapeutics in the 1st quarter valued at approximately $362,000. Inspire Investing LLC raised its stake in shares of Protagonist Therapeutics by 106.9% in the 1st quarter. Inspire Investing LLC now owns 21,834 shares of the company’s stock valued at $1,056,000 after acquiring an additional 11,279 shares in the last quarter. Axiom Investors LLC DE acquired a new stake in Protagonist Therapeutics in the 1st quarter worth approximately $1,933,000. Finally, Palumbo Wealth Management LLC bought a new stake in Protagonist Therapeutics during the second quarter worth approximately $416,000. 98.63% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director William D. Waddill sold 12,000 shares of Protagonist Therapeutics stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $81.62, for a total value of $979,440.00. Following the completion of the transaction, the director directly owned 5,130 shares of the company’s stock, valued at $418,710.60. The trade was a 70.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 20,000 shares of company stock valued at $1,473,440 in the last three months. Insiders own 4.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PTGX. Leerink Partnrs upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. Johnson Rice set a $112.00 target price on shares of Protagonist Therapeutics in a report on Monday, October 13th. Truist Financial boosted their target price on shares of Protagonist Therapeutics from $76.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. BTIG Research reaffirmed a “buy” rating and issued a $82.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. Finally, Citigroup boosted their price objective on Protagonist Therapeutics from $96.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $82.23.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $85.56 on Wednesday. Protagonist Therapeutics, Inc. has a twelve month low of $33.31 and a twelve month high of $93.25. The stock has a market cap of $5.35 billion, a PE ratio of 138.00 and a beta of 2.22. The firm has a 50-day simple moving average of $69.56 and a 200 day simple moving average of $58.20.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Thursday, November 6th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. The business had revenue of $4.71 million during the quarter, compared to the consensus estimate of $5.41 million. Research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal 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.