Jupiter Asset Management Ltd. Purchases Shares of 168,063 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. bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new position in Protagonist Therapeutics in the fourth quarter valued at about $48,000. GAMMA Investing LLC grew its holdings in 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 buying an additional 728 shares in the last quarter. Covestor Ltd grew its holdings in Protagonist Therapeutics by 5,200.0% during the 4th quarter. Covestor Ltd now owns 1,643 shares of the company's stock valued at $63,000 after buying an additional 1,612 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of Protagonist Therapeutics in the 1st quarter worth approximately $117,000. Finally, New Vernon Capital Holdings II LLC purchased a new position in shares of Protagonist Therapeutics in the 4th quarter worth approximately $118,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 22,065 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $55.05, for a total value of $1,214,678.25. Following the completion of the transaction, the chief executive officer directly owned 548,538 shares of the company's stock, valued at $30,197,016.90. The trade was a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Arturo Md Molina sold 10,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total value of $570,300.00. Following the completion of the transaction, the insider owned 83,892 shares of the company's stock, valued at $4,784,360.76. The trade was a 10.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,859 shares of company stock valued at $4,020,877. 4.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PTGX shares. HC Wainwright reissued a "buy" rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Citigroup initiated coverage on Protagonist Therapeutics in a report on Tuesday, June 17th. They set a "buy" rating and a $72.00 price target for the company. Finally, Wall Street Zen upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.10.

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX traded up $0.07 during trading on Tuesday, hitting $53.90. The company's stock had a trading volume of 460,669 shares, compared to its average volume of 645,997. Protagonist Therapeutics, Inc. has a 12 month low of $33.31 and a 12 month high of $60.60. The company has a 50-day moving average of $53.35 and a 200-day moving average of $47.00. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 71.87 and a beta of 2.33.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.31. The firm had revenue of $28.32 million during the quarter, compared to the consensus estimate of $30.44 million. Protagonist Therapeutics had a return on equity of 9.22% and a net margin of 27.04%. As a group, research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

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.