California State Teachers Retirement System Acquires 284 Shares of Protagonist Therapeutics, Inc. $PTGX

Key Points

• CalSTRS increased its Protagonist Therapeutics stake by 0.5%, adding 284 shares to own 58,961 shares valued at approximately $7.2 million. Institutional investors collectively own 98.63% of PTGX, including a new position by Johnson & Johnson valued at about $300.2 million.
• PTGX shares recently fell 2.5% to $144.06, despite the company beating quarterly estimates with EPS of $2.29 versus $2.27 expected and revenue of $213.47 million. Revenue surged 3,746.8% year over year.
• Analysts remain broadly positive, with 16 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $147.13. Insiders, however, sold roughly 234,000 shares worth $34.2 million over the past 90 days.

California State Teachers Retirement System increased its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,961 shares of the company's stock after acquiring an additional 284 shares during the period. California State Teachers Retirement System owned about 0.09% of Protagonist Therapeutics worth $7,227,439 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Johnson & Johnson purchased a new position in Protagonist Therapeutics during the 2nd quarter valued at about $300,220,852. NEXTBio Capital Management LP acquired a new stake in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $20,055,000. Deutsche Bank AG acquired a new stake in shares of Protagonist Therapeutics in the second quarter valued at about $17,387,000. Hsbc Holdings PLC grew its position in shares of Protagonist Therapeutics by 1,260.9% in the second quarter. Hsbc Holdings PLC now owns 25,952 shares of the company's stock valued at $3,198,000 after purchasing an additional 24,045 shares during the period. Finally, Stempoint Capital LP increased its position in shares of Protagonist Therapeutics by 22.1% during the first quarter. Stempoint Capital LP now owns 72,577 shares of the company's stock worth $7,650,000 after acquiring an additional 13,147 shares during the last quarter. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Stock Down 2.5%

Shares of NASDAQ PTGX traded down $3.71 on Tuesday, hitting $144.06. The company had a trading volume of 222,599 shares, compared to its average volume of 703,208. The business has a 50 day moving average of $143.47 and a two-hundred day moving average of $117.59. Protagonist Therapeutics, Inc. has a 12-month low of $57.90 and a 12-month high of $160.81. The firm has a market capitalization of $9.32 billion, a P/E ratio of 139.58 and a beta of 1.80.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings data 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 analysts' expectations 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 was up 3746.8% on a year-over-year basis. On average, sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current year.

Insider Activity at Protagonist Therapeutics

In other news, CEO Dinsesh Patel sold 7,278 shares of the company's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $144.10, for a total value of $1,048,759.80. Following the completion of the sale, the chief executive officer owned 522,968 shares in the company, valued at $75,359,688.80. This represents a 1.37% decrease in their position. The transaction was disclosed in a legal filing 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 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 completion of the sale, 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. Insiders have sold 234,000 shares of company stock valued at $34,192,827 in the last ninety days. 5.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research downgraded Protagonist Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 7th. Johnson Rice set a $165.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, July 17th. Citigroup lifted their price objective on Protagonist Therapeutics from $175.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, August 31st. Truist Financial lifted their price objective on Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded Protagonist Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 22nd. Sixteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $147.13.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on developing peptide-based medicines for immune-mediated diseases and hematologic disorders. The company uses its peptide discovery and development platform to create therapies designed to selectively modulate disease-related biological pathways.

Protagonist's pipeline has included icotrokinra (also known as JNJ-2113), an oral peptide that targets the interleukin-23 receptor and is being developed for inflammatory and immune-mediated conditions in collaboration with Johnson & Johnson.

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