Artia Global Partners LP Takes $2.81 Million Position in Protagonist Therapeutics, Inc. $PTGX

Key Points

• Artia Global Partners acquired 22,951 shares of Protagonist Therapeutics valued at approximately $2.81 million. Institutional investors collectively own 98.63% of the company.
• Protagonist reported quarterly EPS of $2.29, slightly above estimates, while revenue reached $213.47 million—up 3,746.8% year over year.
• Analyst sentiment remains positive, with 15 Buy and one Strong Buy rating; the consensus price target is $140.53. However, insiders sold $17.82 million of stock over the past three months.

Artia Global Partners LP acquired a new stake in shares of 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 fund acquired 22,951 shares of the company's stock, valued at approximately $2,813,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PTGX. Johnson & Johnson bought a new position in Protagonist Therapeutics in the second quarter worth about $300,220,852,000. NEXTBio Capital Management LP bought a new stake in Protagonist Therapeutics during the 4th quarter valued at approximately $20,055,000. Jennison Associates LLC bought a new stake in Protagonist Therapeutics during the 4th quarter valued at approximately $28,924,000. Deutsche Bank AG purchased a new position in shares of Protagonist Therapeutics during the 2nd quarter worth approximately $17,387,000. Finally, Clearbridge Investments LLC purchased a new position in shares of Protagonist Therapeutics during the 4th quarter worth approximately $42,783,000. Institutional investors own 98.63% of the company's stock.

Insider Buying and Selling at Protagonist Therapeutics

In other news, Director William D. Waddill sold 9,000 shares of the firm's stock in a transaction on 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 transaction, the director directly owned 7,825 shares in the company, valued at $922,880.50. This trade represents a 53.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 65,761 shares of Protagonist Therapeutics stock in a transaction on Monday, August 10th. The stock was sold at an average price of $149.11, for a total value of $9,805,622.71. Following the completion of the sale, the chief executive officer directly owned 523,478 shares of the company's stock, valued at $78,055,804.58. The trade was a 11.16% decrease in their position. 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 have sold a total of 127,000 shares of company stock worth $17,818,139 over the last three months. Insiders own 5.19% of the company's stock.

Protagonist Therapeutics Stock Performance

Shares of Protagonist Therapeutics stock opened at $151.50 on Thursday. Protagonist Therapeutics, Inc. has a 52-week low of $54.50 and a 52-week high of $160.81. The stock has a market capitalization of $9.80 billion, a PE ratio of 147.09 and a beta of 1.78. The company has a 50-day simple moving average of $137.15 and a two-hundred day simple moving average of $111.81.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.27 by $0.02. The company had revenue of $213.47 million for the quarter, compared to analysts' expectations of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.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.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PTGX. Barclays raised their target price on Protagonist Therapeutics from $151.00 to $153.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Protagonist Therapeutics from a "sell (d+)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Citigroup upped their target price on shares of Protagonist Therapeutics from $130.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Johnson Rice set a $165.00 price target on shares of Protagonist Therapeutics in a research note on Friday, July 17th. Finally, BMO Capital Markets lifted their price target on shares of Protagonist Therapeutics from $112.00 to $178.00 and gave the company an "outperform" rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $140.53.

Protagonist Therapeutics 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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