Exchange Traded Concepts LLC Purchases 19,999 Shares of Protagonist Therapeutics, Inc. $PTGX

Key Points

• Exchange Traded Concepts LLC increased its holdings in Protagonist Therapeutics by 73.0%, owning 47,391 shares worth approximately $2.6 million after purchasing an additional 19,999 shares in the second quarter.
• Recent insider selling included CEO Dinesh V. Patel selling 10,415 shares and Director William D. Waddill selling 4,000 shares, indicating a decrease in their respective positions.
• Protagonist Therapeutics has received various positive assessments from analysts, with target prices ranging from $72.00 to $80.00, reflecting a consensus rating of "Buy".

Exchange Traded Concepts LLC boosted its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 73.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 47,391 shares of the company's stock after purchasing an additional 19,999 shares during the period. Exchange Traded Concepts LLC owned about 0.08% of Protagonist Therapeutics worth $2,619,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in Protagonist Therapeutics by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 347,095 shares of the company's stock worth $16,786,000 after purchasing an additional 9,286 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of Protagonist Therapeutics during the 1st quarter valued at approximately $362,000. Inspire Investing LLC grew its position in shares of Protagonist Therapeutics by 106.9% during the 1st quarter. Inspire Investing LLC now owns 21,834 shares of the company's stock valued at $1,056,000 after acquiring an additional 11,279 shares during the period. Hsbc Holdings PLC grew its position in shares of Protagonist Therapeutics by 4.1% during the 1st quarter. Hsbc Holdings PLC now owns 8,458 shares of the company's stock valued at $405,000 after acquiring an additional 330 shares during the period. Finally, Axiom Investors LLC DE bought a new position in shares of Protagonist Therapeutics during the 1st quarter valued at approximately $1,933,000. 98.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $54.78, for a total value of $570,533.70. Following the sale, the chief executive officer owned 520,603 shares of the company's stock, valued at $28,518,632.34. This trade represents a 1.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William D. Waddill sold 4,000 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $59.25, for a total transaction of $237,000.00. Following the sale, the director directly owned 9,130 shares in the company, valued at $540,952.50. The trade was a 30.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,859 shares of company stock worth $3,687,577. Insiders own 4.90% of the company's stock.

Analyst Upgrades and Downgrades

PTGX has been the subject of a number of research reports. Barclays initiated coverage on shares of Protagonist Therapeutics in a research report on Wednesday. They set an "overweight" rating and a $72.00 target price for the company. HC Wainwright reissued a "buy" rating and set a $80.00 target price on shares of Protagonist Therapeutics in a research report on Wednesday. Leerink Partners assumed coverage on shares of Protagonist Therapeutics in a research report on Friday, September 12th. They set an "outperform" rating and a $73.00 target price for the company. Leerink Partnrs raised shares of Protagonist Therapeutics to a "strong-buy" rating in a report on Friday, September 12th. Finally, JMP Securities raised their price objective on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Protagonist Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $68.08.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $62.20 on Friday. The firm's fifty day moving average price is $56.56 and its 200-day moving average price is $51.54. The stock has a market cap of $3.87 billion, a P/E ratio of 88.86 and a beta of 2.22. Protagonist Therapeutics, Inc. has a fifty-two week low of $33.31 and a fifty-two week high of $63.30.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $8.32 million. On average, analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

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.

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