Johnson & Johnson purchased a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 2,449,183 shares of the company’s stock, valued at approximately $300,220,852,000. Protagonist Therapeutics accounts for approximately 37.6% of Johnson & Johnson’s holdings, making the stock its biggest position.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings in Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 156 shares in the last quarter. Greenline Wealth Management LLC purchased a new position in Protagonist Therapeutics during the 4th quarter valued at about $27,000. Osaic Holdings Inc. grew its holdings in Protagonist Therapeutics by 79.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock valued at $65,000 after buying an additional 525 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Protagonist Therapeutics by 222.4% during the fourth quarter. Hantz Financial Services Inc. now owns 951 shares of the company’s stock valued at $83,000 after buying an additional 656 shares during the period. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Protagonist Therapeutics during the second quarter valued at about $89,000. 98.63% of the stock is currently owned by institutional investors.
Insider Activity at Protagonist Therapeutics
In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 65,761 shares of Protagonist Therapeutics stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $149.11, for a total transaction of $9,805,622.71. Following the completion of the sale, the chief executive officer directly owned 523,478 shares in the company, valued at $78,055,804.58. The trade was a 11.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William D. Waddill sold 9,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 7,825 shares of the company’s stock, valued at approximately $922,880.50. This represents a 53.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 127,000 shares of company stock worth $17,818,139. 5.19% of the stock is owned by company insiders.
Protagonist Therapeutics Stock Up 2.4%
Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.02. The firm had revenue of $213.47 million during the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The business’s revenue for the quarter was up 3746.8% on a year-over-year basis. As a group, research analysts anticipate that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current fiscal year.
Wall Street Analyst Weigh In
PTGX has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday. The Goldman Sachs Group raised shares of Protagonist Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $186.00 in a research note on Monday, August 10th. TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, July 1st. Citigroup increased their target price 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. Finally, Johnson Rice set a $165.00 price target on shares of Protagonist Therapeutics in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.86.
Check Out Our Latest Stock Report on Protagonist Therapeutics
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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