EFG International AG bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 40,501 shares of the company’s stock, valued at approximately $4,963,000.
A number of other large investors have also modified their holdings of PTGX. Keating Financial Advisory Services Inc. purchased a new position in Protagonist Therapeutics in the 2nd quarter worth approximately $30,000. Allworth Financial LP acquired a new position in shares of Protagonist Therapeutics during the second quarter worth $31,000. Farther Finance Advisors LLC boosted its stake in shares of Protagonist Therapeutics by 110.6% in the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after purchasing an additional 156 shares during the period. Greenline Wealth Management LLC purchased a new position in shares of Protagonist Therapeutics in the fourth quarter valued at $27,000. Finally, Quantbot Technologies LP acquired a new stake in Protagonist Therapeutics during the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 98.63% of the company’s stock.
Wall Street Analyst Weigh In
PTGX has been the topic of several analyst reports. Citigroup lifted their price target on shares of Protagonist Therapeutics from $130.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wolfe Research initiated coverage on Protagonist Therapeutics in a research note on Thursday, May 21st. They set an “outperform” rating and a $135.00 target price for the company. Zacks Research lowered Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Barclays lifted their target price on Protagonist Therapeutics from $151.00 to $153.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings raised Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.53.
Protagonist Therapeutics Trading Down 2.7%
Shares of NASDAQ:PTGX opened at $150.59 on Wednesday. The firm has a market cap of $9.74 billion, a PE ratio of 146.21 and a beta of 1.78. The company has a fifty day simple moving average of $136.34 and a 200 day simple moving average of $111.31. Protagonist Therapeutics, Inc. has a 12-month low of $54.50 and a 12-month high of $160.81.
Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.02. The firm had revenue of $213.47 million for the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The firm’s revenue for the quarter was up 3746.8% compared to the same quarter last year. As a group, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current fiscal year.
Insider Activity
In related news, Director William D. Waddill sold 9,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total value of $1,061,460.00. Following the completion of the transaction, the director directly owned 7,825 shares in the company, valued at approximately $922,880.50. This trade represents a 53.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 34,239 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $148.52, for a total value of $5,085,176.28. Following the completion of the transaction, the chief executive officer owned 523,478 shares of the company’s stock, valued at $77,746,952.56. This trade represents a 6.14% 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 sold a total of 127,000 shares of company stock valued at $17,818,139 in the last three months. Insiders own 5.19% of the company’s stock.
Protagonist Therapeutics Company Profile
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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