Bamco Inc. NY Makes New $1.96 Million Investment in Protagonist Therapeutics, Inc. $PTGX

Bamco Inc. NY bought a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,000 shares of the company's stock, valued at approximately $1,961,000.

Several other hedge funds have also made changes to their positions in PTGX. BlackRock Inc. purchased a new position in shares of Protagonist Therapeutics during the second quarter valued at $1,263,535,000. Johnson & Johnson bought a new position in shares of Protagonist Therapeutics during the second quarter valued at approximately $300,220,852,000. Jupiter Topco LLC bought a new position in shares of Protagonist Therapeutics during the second quarter valued at approximately $261,039,000. Janus Henderson Group PLC increased its holdings in Protagonist Therapeutics by 140.7% during the fourth quarter. Janus Henderson Group PLC now owns 2,649,981 shares of the company's stock valued at $231,355,000 after buying an additional 1,549,160 shares during the period. Finally, Bank of America Corp DE bought a new position in Protagonist Therapeutics in the second quarter worth approximately $162,357,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 34,239 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 523,478 shares of the company's stock, valued at approximately $77,746,952.56. This trade represents a 6.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 company'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 value of $1,061,460.00. Following the transaction, the director directly owned 7,825 shares of the company's stock, valued at approximately $922,880.50. The trade was a 53.49% decrease in their ownership of the stock. 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 quarter, insiders sold 118,000 shares of company stock valued at $16,921,379. 5.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PTGX shares. The Goldman Sachs Group upgraded Protagonist Therapeutics from a "neutral" rating to a "buy" rating and upped their target price for the stock from $110.00 to $186.00 in a report on Monday, August 10th. BMO Capital Markets upped their price objective on Protagonist Therapeutics from $112.00 to $178.00 and gave the stock an "outperform" rating in a research note on Monday, August 17th. Weiss Ratings raised Protagonist Therapeutics from a "sell (d+)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. Barclays lifted 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. Finally, UBS Group upgraded shares of Protagonist Therapeutics to a "buy" rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Protagonist Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $140.53.

Protagonist Therapeutics Trading Down 1.3%

Shares of PTGX stock opened at $149.50 on Friday. Protagonist Therapeutics, Inc. has a 12-month low of $54.50 and a 12-month high of $160.81. The business's fifty day simple moving average is $137.88 and its 200-day simple moving average is $112.27. The company has a market cap of $9.67 billion, a PE ratio of 145.15 and a beta of 1.78.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.02. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The firm had revenue of $213.47 million during the quarter, compared to analysts' expectations of $212.03 million. The company's revenue was up 3746.8% compared to the same quarter last year. On average, equities analysts forecast that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current year.

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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