BNP Paribas Financial Markets Has $8.54 Million Stock Holdings in Protagonist Therapeutics, Inc. $PTGX

Key Points

• BNP Paribas Financial Markets increased its stake in Protagonist Therapeutics by 632.6% in the fourth quarter, ending with 97,764 shares worth about $8.54 million.
• Protagonist Therapeutics reported better-than-expected Q1 earnings, posting $0.05 EPS versus the expected loss and generating $56.37 million in revenue, far above analyst estimates.
• Analysts remain broadly positive on PTGX, with a Moderate Buy consensus and an average price target of $115.21, though there has also been notable insider selling, including shares sold by the CEO and CFO.

BNP Paribas Financial Markets grew its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 632.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 97,764 shares of the company's stock after buying an additional 84,420 shares during the quarter. BNP Paribas Financial Markets owned 0.16% of Protagonist Therapeutics worth $8,539,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in shares of Protagonist Therapeutics by 110.6% in the 4th 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 raised its stake in shares of Protagonist Therapeutics by 138.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company's stock valued at $36,000 after buying an additional 314 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at $62,000. Hantz Financial Services Inc. raised its stake in shares of Protagonist Therapeutics by 222.4% in the 4th quarter. Hantz Financial Services Inc. now owns 951 shares of the company's stock valued at $83,000 after buying an additional 656 shares in the last quarter. Finally, Canton Hathaway LLC acquired a new position in shares of Protagonist Therapeutics in the 4th quarter valued at $87,000. Institutional investors and hedge funds own 98.63% of the company's stock.

Protagonist Therapeutics Price Performance

Protagonist Therapeutics stock opened at $98.03 on Tuesday. The company's 50 day simple moving average is $101.25 and its 200 day simple moving average is $92.64. Protagonist Therapeutics, Inc. has a fifty-two week low of $49.38 and a fifty-two week high of $107.84. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of -54.16 and a beta of 1.86.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. The business had revenue of $56.37 million for the quarter, compared to analyst estimates of $11.70 million. As a group, analysts predict that Protagonist Therapeutics, Inc. will post 2.93 EPS for the current fiscal year.

Analyst Ratings Changes

PTGX has been the subject of a number of recent research reports. Citigroup restated an "outperform" rating on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. Truist Financial increased their target price on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Protagonist Therapeutics in a research report on Friday, May 15th. Citizens Jmp increased their target price on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a "market outperform" rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Protagonist Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $115.21.

Insider Activity

In other Protagonist Therapeutics news, CFO Asif Ali sold 1,750 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $105.47, for a total transaction of $184,572.50. Following the sale, the chief financial officer directly owned 59,003 shares in the company, valued at approximately $6,223,046.41. This trade represents a 2.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the firm'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 transaction of $7,509,000.00. Following the sale, the chief executive officer owned 523,478 shares in the company, valued at $52,410,617.36. This trade represents a 12.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 263,345 shares of company stock worth $26,707,266. Corporate 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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