Eagle Health Investments LP Takes $5.01 Million Position in Protagonist Therapeutics, Inc. $PTGX

Key Points

• Eagle Health Investments LP opened a new position in Protagonist Therapeutics, buying 57,300 shares worth about $5.01 million. The stake represents about 1.1% of Eagle Health’s portfolio and 0.09% of PTGX’s outstanding shares.
• Wall Street sentiment on PTGX remains constructive, with multiple analysts raising price targets and the stock carrying a Moderate Buy consensus rating. The average target price is $113.69, above the recent trading level.
• Protagonist Therapeutics reported a better-than-expected quarter, posting $0.05 EPS versus an expected loss and revenue of $56.37 million versus estimates of $11.70 million. However, insiders have been selling shares, including a director and the CFO, while institutional investors still own nearly 98.63% of the stock.

Eagle Health Investments LP purchased a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 57,300 shares of the company's stock, valued at approximately $5,005,000. Protagonist Therapeutics comprises about 1.1% of Eagle Health Investments LP's holdings, making the stock its 21st largest holding. Eagle Health Investments LP owned 0.09% of Protagonist Therapeutics at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted 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 valued at $26,000 after buying an additional 156 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Protagonist Therapeutics by 138.9% during 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 during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Protagonist Therapeutics during the 3rd quarter valued at $62,000. Osaic Holdings Inc. lifted its position in shares of Protagonist Therapeutics by 79.5% during 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 during the last quarter. Finally, Canton Hathaway LLC bought a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at $87,000. Hedge funds and other institutional investors own 98.63% of the company's stock.

Analyst Upgrades and Downgrades

PTGX has been the topic of a number of recent research reports. HC Wainwright increased their price objective on Protagonist Therapeutics from $80.00 to $117.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Truist Financial increased their price objective on Protagonist Therapeutics from $110.00 to $121.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. Leerink Partners increased their price objective on Protagonist Therapeutics from $107.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, March 19th. Johnson Rice reissued a "buy" rating on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. Finally, Barclays increased their price objective on Protagonist Therapeutics from $113.00 to $119.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $113.69.

Protagonist Therapeutics Stock Performance

Shares of PTGX opened at $100.88 on Thursday. The stock's 50-day simple moving average is $101.13 and its 200 day simple moving average is $91.05. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of -55.73 and a beta of 1.89. Protagonist Therapeutics, Inc. has a 52-week low of $45.05 and a 52-week high of $107.84.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.55. The business had revenue of $56.37 million for the quarter, compared to analyst estimates of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. On average, research analysts forecast that Protagonist Therapeutics, Inc. will post 2.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Protagonist Therapeutics news, Director Bryan Giraudo sold 36,000 shares of the company's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $100.14, for a total value of $3,605,040.00. Following the transaction, the director directly owned 27,825 shares in the company, valued at $2,786,395.50. This represents a 56.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Asif Ali sold 24,765 shares of the company's stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $104.24, for a total value of $2,581,503.60. Following the completion of the transaction, the chief financial officer owned 60,753 shares in the company, valued at $6,332,892.72. This represents a 28.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 254,345 shares of company stock worth $25,810,506. 5.19% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding PTGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.