Deutsche Bank AG Cuts Position in Protagonist Therapeutics, Inc. $PTGX

Key Points

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Deutsche Bank AG decreased its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 52.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,695 shares of the company's stock after selling 72,237 shares during the quarter. Deutsche Bank AG owned about 0.11% of Protagonist Therapeutics worth $3,177,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Protagonist Therapeutics by 153.3% during the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock valued at $58,000 after purchasing an additional 728 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at approximately $48,000. PNC Financial Services Group Inc. lifted its stake in shares of Protagonist Therapeutics by 38.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,992 shares of the company's stock valued at $96,000 after purchasing an additional 551 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of Protagonist Therapeutics in the 1st quarter worth approximately $117,000. Finally, New Vernon Capital Holdings II LLC purchased a new position in shares of Protagonist Therapeutics in the 4th quarter worth approximately $118,000. Hedge funds and other institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Trading Down 0.0%

Shares of Protagonist Therapeutics stock traded down $0.02 on Wednesday, hitting $56.23. 675,235 shares of the company traded hands, compared to its average volume of 647,299. The company has a market cap of $3.50 billion, a PE ratio of 80.36 and a beta of 2.33. The stock's 50 day moving average price is $54.13 and its 200-day moving average price is $48.26. Protagonist Therapeutics, Inc. has a 52 week low of $33.31 and a 52 week high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.02). The firm had revenue of $5.55 million for the quarter, compared to analysts' expectations of $8.32 million. Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%. As a group, research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on PTGX shares. Wall Street Zen upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. HC Wainwright reiterated a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Citigroup reiterated an "outperform" rating on shares of Protagonist Therapeutics in a report on Thursday, August 7th. Finally, JMP Securities lifted their target price on Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $67.20.

Insiders Place Their Bets

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 10,415 shares of Protagonist Therapeutics stock in a transaction on Friday, July 25th. The stock was sold at an average price of $54.78, for a total transaction of $570,533.70. Following the completion of the sale, the chief executive officer directly owned 520,603 shares of the company's stock, valued at $28,518,632.34. The trade was a 1.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Arturo Md Molina sold 10,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total value of $570,300.00. Following the sale, the insider directly owned 83,892 shares of the company's stock, valued at approximately $4,784,360.76. This trade represents a 10.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,859 shares of company stock valued at $4,020,877. 4.90% of the stock is currently owned by corporate insiders.

Protagonist Therapeutics Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.