Jefferies Financial Group Inc. Sells 816,503 Shares of Protagonist Therapeutics, Inc. $PTGX

Key Points

• Jefferies Financial Group sharply cut its Protagonist Therapeutics stake by 99.4% in the fourth quarter, selling 816,503 shares and leaving it with just 5,000 shares worth about $437,000.
• Protagonist Therapeutics reported a strong quarterly update, posting EPS of $0.05 versus expectations for a loss and generating $56.37 million in revenue, far above analyst estimates.
• Analyst sentiment remains largely positive, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus target of $115.21, even as some insiders have recently sold shares.

Jefferies Financial Group Inc. lessened its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 99.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,000 shares of the company's stock after selling 816,503 shares during the period. Jefferies Financial Group Inc.'s holdings in Protagonist Therapeutics were worth $437,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PTGX. Royal Bank of Canada grew its position in Protagonist Therapeutics by 30.6% in the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company's stock worth $482,000 after purchasing an additional 2,334 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Protagonist Therapeutics by 0.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company's stock worth $1,810,000 after purchasing an additional 348 shares during the period. Millennium Management LLC grew its position in Protagonist Therapeutics by 283.6% in the 1st quarter. Millennium Management LLC now owns 134,269 shares of the company's stock worth $6,493,000 after purchasing an additional 99,269 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Protagonist Therapeutics in the 2nd quarter worth approximately $987,000. Finally, Guggenheim Capital LLC grew its position in Protagonist Therapeutics by 1.6% in the 2nd quarter. Guggenheim Capital LLC now owns 19,208 shares of the company's stock worth $1,062,000 after purchasing an additional 303 shares during the period. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Stock Performance

PTGX opened at $99.56 on Friday. Protagonist Therapeutics, Inc. has a fifty-two week low of $45.43 and a fifty-two week high of $107.84. The firm's fifty day moving average is $101.73 and its 200 day moving average is $92.05. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of -55.01 and a beta of 1.89.

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

Wall Street Analyst Weigh In

A number of research firms have commented on PTGX. Wedbush lifted their target price on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Citizens Jmp lifted their target price on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a "market outperform" rating in a research report on Wednesday, May 6th. 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. Wolfe Research started coverage on shares of Protagonist Therapeutics in a research note on Thursday, May 21st. They set an "outperform" rating and a $135.00 price target on the stock. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Protagonist Therapeutics in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $115.21.

Insider Activity at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 15,000 shares of Protagonist Therapeutics stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $104.79, for a total transaction of $1,571,850.00. Following the transaction, the insider owned 84,115 shares in the company, valued at approximately $8,814,410.85. The trade was a 15.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bryan Giraudo sold 36,000 shares of Protagonist Therapeutics stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $100.14, for a total transaction of $3,605,040.00. Following the completion of the sale, the director owned 27,825 shares in the company, valued at approximately $2,786,395.50. This represents a 56.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 254,345 shares of company stock worth $25,810,506 in the last 90 days. Company insiders own 5.19% of the company's stock.

About Protagonist Therapeutics

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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