Hsbc Holdings PLC Purchases 24,045 Shares of Protagonist Therapeutics, Inc. $PTGX

Hsbc Holdings PLC raised its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 1,260.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,952 shares of the company's stock after purchasing an additional 24,045 shares during the quarter. Hsbc Holdings PLC's holdings in Protagonist Therapeutics were worth $3,198,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Protagonist Therapeutics during the second quarter valued at approximately $1,263,535,000. State Street Corp lifted its stake in shares of Protagonist Therapeutics by 18.5% during the 2nd quarter. State Street Corp now owns 3,207,543 shares of the company's stock worth $177,281,000 after acquiring an additional 500,924 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Protagonist Therapeutics by 66.2% during the 4th quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company's stock valued at $276,992,000 after acquiring an additional 1,262,977 shares during the period. Janus Henderson Group PLC boosted its holdings in Protagonist Therapeutics by 9.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,891,527 shares of the company's stock valued at $304,866,000 after acquiring an additional 241,546 shares during the period. Finally, Johnson & Johnson bought a new position in Protagonist Therapeutics in the 2nd quarter valued at $300,220,852. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Stock Performance

Shares of PTGX opened at $145.16 on Friday. The company has a 50 day moving average price of $142.81 and a 200-day moving average price of $116.73. Protagonist Therapeutics, Inc. has a fifty-two week low of $57.53 and a fifty-two week high of $160.81. The stock has a market capitalization of $9.39 billion, a PE ratio of 140.93 and a beta of 1.80.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.02. The company had revenue of $213.47 million for the quarter, compared to analyst estimates of $212.03 million. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The firm's revenue was up 3746.8% on a year-over-year basis. Equities research analysts forecast that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current year.

Analysts Set New Price Targets

PTGX has been the subject of several research analyst reports. Zacks Research downgraded Protagonist Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 7th. UBS Group upgraded shares of Protagonist Therapeutics to a "buy" rating in a report on Monday, August 10th. Truist Financial boosted their price objective on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Wedbush upped their target price on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Finally, Citigroup raised their target price on shares of Protagonist Therapeutics from $175.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, August 31st. Sixteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Protagonist Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $147.13.

Insider Activity

In other Protagonist Therapeutics news, CEO Dinsesh Patel sold 65,761 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $149.11, for a total value of $9,805,622.71. Following the completion of the transaction, the chief executive officer directly owned 523,478 shares in the company, valued at approximately $78,055,804.58. The trade was a 11.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William Waddill sold 9,000 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the completion of the sale, the director owned 7,825 shares in the company, valued at $922,880.50. This represents a 53.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 234,000 shares of company stock worth $34,192,827 in the last quarter. 5.19% of the stock is owned by insiders.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on developing peptide-based medicines for immune-mediated diseases and hematologic disorders. The company uses its peptide discovery and development platform to create therapies designed to selectively modulate disease-related biological pathways.

Protagonist's pipeline has included icotrokinra (also known as JNJ-2113), an oral peptide that targets the interleukin-23 receptor and is being developed for inflammatory and immune-mediated conditions in collaboration with Johnson & Johnson.

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