Protagonist Therapeutics, Inc. $PTGX Stock Position Decreased by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. drastically reduced its stake in Protagonist Therapeutics by 94.6%, selling 71,950 shares and now owning only 4,137 shares valued at $200,000.
• Several institutional investors have increased their positions in Protagonist Therapeutics, with GAMMA Investing LLC raising its stake by 153.3% in the first quarter.
• Protagonist Therapeutics reported a quarterly earnings miss, with earnings per share of ($0.55) against an expected ($0.53) and revenues of $5.55 million versus anticipated $8.32 million.

E Fund Management Co. Ltd. reduced its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 94.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,137 shares of the company's stock after selling 71,950 shares during the period. E Fund Management Co. Ltd.'s holdings in Protagonist Therapeutics were worth $200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at approximately $48,000. GAMMA Investing LLC raised its position in shares of Protagonist Therapeutics by 153.3% during the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock valued at $58,000 after acquiring an additional 728 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Protagonist Therapeutics by 38.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,992 shares of the company's stock valued at $96,000 after acquiring an additional 551 shares in the last quarter. Covestor Ltd raised its position in shares of Protagonist Therapeutics by 27.0% during the 1st quarter. Covestor Ltd now owns 2,087 shares of the company's stock valued at $101,000 after acquiring an additional 444 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Protagonist Therapeutics in the first quarter worth $117,000. 98.63% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $28,518,632.34. This trade represents a 1.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Arturo Md Molina sold 10,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $57.03, for a total value of $570,300.00. Following the sale, the insider owned 83,892 shares of the company's stock, valued at $4,784,360.76. The trade was a 10.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,859 shares of company stock valued at $4,020,877 over the last 90 days. Corporate insiders own 4.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PTGX shares. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. JMP Securities increased their target price on Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Wall Street Zen raised Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Protagonist Therapeutics in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Protagonist Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $67.20.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX traded down $0.1550 during midday trading on Thursday, reaching $56.0750. The company had a trading volume of 81,543 shares, compared to its average volume of 927,665. Protagonist Therapeutics, Inc. has a 1-year low of $33.31 and a 1-year high of $60.60. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 80.04 and a beta of 2.33. The company has a fifty day simple moving average of $54.13 and a two-hundred day simple moving average of $48.26.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. The company had revenue of $5.55 million during the quarter, compared to analyst estimates of $8.32 million. Analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Protagonist Therapeutics Company 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.