EFG Asset Management North America Corp. Purchases New Position in Protagonist Therapeutics, Inc. $PTGX

Key Points

• EFG Asset Management North America Corp. has purchased 71,134 shares of Protagonist Therapeutics, Inc., valued at approximately $3.44 million, representing around 0.11% ownership as of the latest SEC filing.
• Analysts have a consensus Buy rating on Protagonist Therapeutics with an average target price of $67.20, following recent updates from firms like HC Wainwright and JMP Securities.
• The company recently reported an EP of ($0.55) for the quarter, missing expectations, with revenues of $5.55 million compared to a forecast of $8.32 million.

EFG Asset Management North America Corp. purchased a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 71,134 shares of the company's stock, valued at approximately $3,439,000. EFG Asset Management North America Corp. owned approximately 0.11% of Protagonist Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GF Fund Management CO. LTD. grew its position in shares of Protagonist Therapeutics by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,526 shares of the company's stock worth $74,000 after buying an additional 275 shares in the last quarter. Hsbc Holdings PLC boosted its position in Protagonist Therapeutics by 4.1% during the first quarter. Hsbc Holdings PLC now owns 8,458 shares of the company's stock valued at $405,000 after purchasing an additional 330 shares in the last quarter. Covestor Ltd boosted its position in Protagonist Therapeutics by 27.0% during the first quarter. Covestor Ltd now owns 2,087 shares of the company's stock valued at $101,000 after purchasing an additional 444 shares in the last quarter. AlphaQuest LLC boosted its position in Protagonist Therapeutics by 24.2% during the first quarter. AlphaQuest LLC now owns 2,704 shares of the company's stock valued at $131,000 after purchasing an additional 527 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Protagonist Therapeutics by 38.2% during the first 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 in the last quarter. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Stock Down 7.2%

Shares of NASDAQ:PTGX traded down $4.34 during trading on Monday, hitting $56.19. The stock had a trading volume of 1,643,268 shares, compared to its average volume of 937,720. Protagonist Therapeutics, Inc. has a 12-month low of $33.31 and a 12-month high of $61.89. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 80.27 and a beta of 2.22. The stock has a 50-day simple moving average of $55.05 and a two-hundred day simple moving average of $50.12.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.02). The firm had revenue of $5.55 million during 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, sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Activity at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 10,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $57.03, for a total transaction of $570,300.00. Following the completion of the transaction, the insider directly owned 83,892 shares in the company, valued at approximately $4,784,360.76. This trade represents a 10.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William D. Waddill sold 4,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $59.25, for a total value of $237,000.00. Following the transaction, the director owned 9,130 shares of the company's stock, valued at approximately $540,952.50. This represents a 30.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,859 shares of company stock worth $4,257,877. 4.90% of the stock is owned by corporate insiders.

About Protagonist Therapeutics

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.