Geode Capital Management LLC Boosts Stock Holdings in Protagonist Therapeutics, Inc. $PTGX

Key Points

• Geode Capital Management increased its stake in Protagonist Therapeutics by 2.6% in the fourth quarter, bringing its holdings to 1,452,928 shares valued at about $126.9 million.
• Protagonist Therapeutics beat earnings and revenue expectations in its latest quarterly report, posting $0.05 EPS versus an expected loss and $56.37 million in revenue versus $11.70 million expected.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $115.21, even as insiders have recently sold shares.

Geode Capital Management LLC raised its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,452,928 shares of the company's stock after purchasing an additional 36,282 shares during the period. Geode Capital Management LLC owned 2.32% of Protagonist Therapeutics worth $126,920,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in 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 purchasing an additional 156 shares during the period. EverSource Wealth Advisors LLC increased its position in 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 purchasing an additional 314 shares during the period. Abich Financial Wealth Management LLC purchased a new position in Protagonist Therapeutics during the 3rd quarter valued at about $62,000. Osaic Holdings Inc. increased its position in 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 purchasing an additional 525 shares during the period. Finally, Hantz Financial Services Inc. increased its position in Protagonist Therapeutics by 222.4% during the 4th quarter. Hantz Financial Services Inc. now owns 951 shares of the company's stock valued at $83,000 after purchasing an additional 656 shares during the period. Hedge funds and other institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Stock Up 7.7%

Shares of NASDAQ PTGX opened at $102.79 on Friday. The firm has a 50-day simple moving average of $101.47 and a 200-day simple moving average of $92.45. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of -56.79 and a beta of 1.85. Protagonist Therapeutics, Inc. has a 52 week low of $49.38 and a 52 week high of $107.84.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.50) by $0.55. The business had revenue of $56.37 million during the quarter, compared to analysts' expectations of $11.70 million. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. As a group, equities research analysts expect that Protagonist Therapeutics, Inc. will post 3.29 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In other news, Director Harold E. Selick sold 24,000 shares of the stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $105.00, for a total transaction of $2,520,000.00. Following the sale, the director owned 60,845 shares of the company's stock, valued at approximately $6,388,725. This represents a 28.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bryan Giraudo sold 36,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $100.14, for a total transaction of $3,605,040.00. Following the sale, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 263,345 shares of company stock valued at $26,707,266 over the last quarter. 5.19% of the stock is owned by insiders.

Analysts Set New Price Targets

PTGX has been the topic of a number of analyst reports. Truist Financial lifted their price objective on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. JPMorgan Chase & Co. boosted their target price on shares of Protagonist Therapeutics from $95.00 to $106.00 and gave the stock an "overweight" rating in a research report on Thursday, March 19th. Wall Street Zen raised shares of Protagonist Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Weiss Ratings reissued a "sell (d+)" rating on shares of Protagonist Therapeutics in a research report on Friday, May 15th. Finally, Leerink Partners lifted their price objective on shares of Protagonist Therapeutics from $107.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $115.21.

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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