AIHC Capital Management Ltd Buys New Shares in Protagonist Therapeutics, Inc. $PTGX

Key Points

• AIHC Capital Management disclosed a new stake in Protagonist Therapeutics, buying 189,823 shares worth about $16.6 million. The position makes PTGX its second-largest holding and represents about 15.5% of its portfolio.
• Protagonist Therapeutics beat expectations in its latest quarterly results, reporting EPS of $0.05 versus an expected loss and revenue of $56.37 million versus $11.70 million estimated. The company also saw its stock trade up 1.6% to around $105.55, near its 52-week high.
• Analyst sentiment remains constructive, with 13 Buy ratings and a consensus price target of $113.69. However, recent insider sales by the CEO and a director totaled millions of dollars and have drawn attention.

AIHC Capital Management Ltd bought a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 189,823 shares of the company's stock, valued at approximately $16,579,000. Protagonist Therapeutics comprises about 15.5% of AIHC Capital Management Ltd's investment portfolio, making the stock its 2nd biggest holding. AIHC Capital Management Ltd owned approximately 0.30% of Protagonist Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew 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 buying an additional 156 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Protagonist Therapeutics by 138.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company's stock worth $36,000 after buying an additional 314 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Protagonist Therapeutics during the 3rd quarter worth approximately $62,000. Canton Hathaway LLC bought a new position in Protagonist Therapeutics during the 4th quarter worth approximately $87,000. Finally, Osaic Holdings Inc. lifted its holdings in shares of Protagonist Therapeutics by 79.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company's stock worth $65,000 after purchasing an additional 525 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Trading Up 1.6%

PTGX opened at $105.55 on Friday. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of -58.31 and a beta of 1.89. Protagonist Therapeutics, Inc. has a 1 year low of $43.47 and a 1 year high of $107.84. The stock has a fifty day moving average price of $100.58 and a 200 day moving average price of $90.39.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.55. The company had revenue of $56.37 million for the quarter, compared to analyst estimates of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. As a group, sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 2.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on PTGX shares. Jefferies Financial Group reissued a "buy" rating and issued a $121.00 price target on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. Wall Street Zen upgraded Protagonist Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Citigroup reiterated an "outperform" rating on shares of Protagonist Therapeutics in a research report on Wednesday, May 6th. HC Wainwright raised their price objective on Protagonist Therapeutics from $80.00 to $117.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Finally, TD Cowen raised their price objective on Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $113.69.

Insider Activity

In other Protagonist Therapeutics news, Director Bryan Giraudo sold 36,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $100.14, for a total transaction of $3,605,040.00. Following the sale, the director directly owned 27,825 shares of the company's stock, valued at approximately $2,786,395.50. The trade was a 56.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the completion of the transaction, the chief executive officer directly owned 523,478 shares in the company, valued at $52,410,617.36. The trade was a 12.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 272,345 shares of company stock valued at $27,294,066. Corporate insiders own 5.19% of the company's stock.

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 α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn's disease.

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