Jupiter Asset Management Ltd. Takes Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Key Points

• Jupiter Asset Management Ltd. invested $8.13 million in Protagonist Therapeutics, acquiring 168,063 shares, making it a new institutional ownership of approximately 0.27%.
• Protagonist Therapeutics reported an earnings per share of ($0.19), exceeding analyst expectations and generating a revenue of $28.32 million.
• Analysts have given Protagonist Therapeutics a consensus rating of "Moderate Buy" with an average price target of $66.10, suggesting positive sentiment around the stock's potential.

Jupiter Asset Management Ltd. purchased a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 168,063 shares of the company's stock, valued at approximately $8,128,000. Jupiter Asset Management Ltd. owned about 0.27% of Protagonist Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Protagonist Therapeutics by 2.7% in the first quarter. Principal Financial Group Inc. now owns 347,095 shares of the company's stock worth $16,786,000 after buying an additional 9,286 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Protagonist Therapeutics by 36.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 216,069 shares of the company's stock worth $8,340,000 after buying an additional 58,002 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Protagonist Therapeutics by 9.5% during the 1st quarter. New York State Common Retirement Fund now owns 19,582 shares of the company's stock valued at $947,000 after acquiring an additional 1,700 shares during the last quarter. Royce & Associates LP acquired a new position in shares of Protagonist Therapeutics during the 1st quarter valued at about $593,000. Finally, GAMMA Investing LLC boosted its position in shares of Protagonist Therapeutics by 153.3% during the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock valued at $58,000 after acquiring an additional 728 shares during the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on PTGX shares. Citigroup reiterated an "outperform" rating on shares of Protagonist Therapeutics in a research note on Thursday. Wall Street Zen upgraded shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. Finally, JMP Securities increased their price target on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the company a "market outperform" rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.20.

Insider Activity

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $57.03, for a total value of $570,300.00. Following the completion of the transaction, the insider directly owned 83,892 shares in the company, valued at $4,784,360.76. This trade represents a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the business'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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,859 shares of company stock valued at $4,020,877 over the last 90 days. Corporate insiders own 4.90% of the company's stock.

Protagonist Therapeutics Trading Down 4.7%

NASDAQ PTGX traded down $2.51 during trading on Thursday, reaching $51.36. 573,668 shares of the company's stock were exchanged, compared to its average volume of 947,472. The firm has a market capitalization of $3.18 billion, a PE ratio of 68.33 and a beta of 2.33. Protagonist Therapeutics, Inc. has a fifty-two week low of $33.31 and a fifty-two week high of $60.60. The company's fifty day simple moving average is $53.50 and its 200-day simple moving average is $47.05.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). The firm had revenue of $5.55 million for the quarter, compared to the consensus estimate of $8.32 million. Protagonist Therapeutics had a net margin of 27.04% and a return on equity of 9.22%. Equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal 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.