Invesco Ltd. Increases Stock Holdings in Protagonist Therapeutics, Inc. $PTGX

Key Points

• Invesco Ltd. increased its holdings in Protagonist Therapeutics by 16.3%, now owning approximately 859,648 shares worth $41.57 million.
• Protagonist Therapeutics reported a loss of $0.55 per share for the last quarter, falling short of expectations, with revenues of only $5.55 million compared to an estimated $8.32 million.
• The stock currently has a consensus rating of "Moderate Buy", with an average price target of $67.20 from eight analysts.

Invesco Ltd. grew its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 16.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 859,648 shares of the company's stock after purchasing an additional 120,696 shares during the quarter. Invesco Ltd. owned about 1.39% of Protagonist Therapeutics worth $41,573,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. 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 worth $101,000 after purchasing an additional 444 shares during the period. Vanguard Group Inc. boosted its position in Protagonist Therapeutics by 1.4% during the first quarter. Vanguard Group Inc. now owns 4,277,218 shares of the company's stock worth $206,846,000 after purchasing an additional 57,181 shares during the period. 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 worth $96,000 after purchasing an additional 551 shares during the period. Jupiter Asset Management Ltd. bought a new position in Protagonist Therapeutics during the first quarter worth about $8,128,000. Finally, US Bancorp DE boosted its position in Protagonist Therapeutics by 71.5% during the first quarter. US Bancorp DE now owns 3,654 shares of the company's stock worth $177,000 after purchasing an additional 1,524 shares during the period. Institutional investors own 98.63% of the company's stock.

Analyst Ratings Changes

PTGX has been the topic of a number of analyst reports. Wall Street Zen upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. JMP Securities boosted their price objective 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. HC Wainwright reiterated a "buy" rating and set a $80.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. Finally, Citigroup restated an "outperform" rating on shares of Protagonist Therapeutics in a research report on Thursday, August 7th. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $67.20.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock traded down $0.02 during mid-day trading on Wednesday, hitting $56.23. 675,235 shares of the company traded hands, compared to its average volume of 647,299. Protagonist Therapeutics, Inc. has a one year low of $33.31 and a one year high of $60.60. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 80.36 and a beta of 2.33. The stock has a fifty day moving average price of $54.13 and a 200-day moving average price of $48.26.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.02). The business had revenue of $5.55 million for 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%. Sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 10,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total value of $570,300.00. Following the transaction, the insider directly owned 83,892 shares of the company's stock, valued at $4,784,360.76. The trade was a 10.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $55.05, for a total transaction of $1,214,678.25. Following the sale, the chief executive officer owned 548,538 shares of the company's stock, valued at $30,197,016.90. This represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,859 shares of company stock worth $4,020,877 in the last 90 days. Company insiders own 4.90% of the company's stock.

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.