Deutsche Bank AG Invests $17.39 Million in Protagonist Therapeutics, Inc. $PTGX

Deutsche Bank AG acquired a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 141,838 shares of the company's stock, valued at approximately $17,387,000. Deutsche Bank AG owned approximately 0.22% of Protagonist Therapeutics as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PTGX. Farther Finance Advisors LLC boosted its position in shares of Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock worth $26,000 after purchasing an additional 156 shares in the last quarter. Greenline Wealth Management LLC acquired a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at about $27,000. Osaic Holdings Inc. increased its position in Protagonist Therapeutics by 79.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company's stock valued at $65,000 after buying an additional 525 shares in the last quarter. Hantz Financial Services Inc. increased its position in 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, Harbor Investment Advisory LLC acquired a new position in Protagonist Therapeutics during the 2nd quarter worth approximately $89,000. Institutional investors and hedge funds own 98.63% of the company's stock.

Protagonist Therapeutics Trading Up 2.4%

Shares of Protagonist Therapeutics stock opened at $154.32 on Friday. The company has a market capitalization of $9.99 billion, a P/E ratio of 149.83 and a beta of 1.78. The stock has a fifty day simple moving average of $134.70 and a 200 day simple moving average of $110.16. Protagonist Therapeutics, Inc. has a 12-month low of $54.50 and a 12-month high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.02. The business 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%.Protagonist Therapeutics's revenue for the quarter was up 3746.8% on a year-over-year basis. On average, analysts predict that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised Protagonist Therapeutics from a "neutral" rating to a "buy" rating and raised their price objective for the company from $110.00 to $186.00 in a research note on Monday, August 10th. Wolfe Research began coverage on Protagonist Therapeutics in a report on Thursday, May 21st. They issued an "outperform" rating and a $135.00 target price on the stock. BMO Capital Markets increased their target price on Protagonist Therapeutics from $112.00 to $178.00 and gave the stock an "outperform" rating in a report on Monday, August 17th. Wedbush lifted their price target on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Finally, Barclays boosted their price target on shares of Protagonist Therapeutics from $151.00 to $153.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $140.53.

Insider Buying and Selling

In other news, CEO Dinesh V. Ph D. Patel sold 65,761 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 523,478 shares of the company's stock, valued at $78,055,804.58. This represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Protagonist Therapeutics 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 sale, the director owned 7,825 shares in the company, valued at $922,880.50. This trade represents 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. Insiders sold a total of 127,000 shares of company stock worth $17,818,139 in the last 90 days. Company insiders own 5.19% of the company's stock.

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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