Nan Fung Trinity HK Ltd. Has $15.78 Million Stock Position in Protagonist Therapeutics, Inc. $PTGX

Key Points

• Nan Fung Trinity HK Ltd. increased its Protagonist Therapeutics stake by 24.7% in the fourth quarter, ending with 180,670 shares valued at about $15.78 million.
• Analysts remain broadly upbeat on PTGX, with 13 Buy ratings and a consensus rating of Moderate Buy; the average price target is $113.69.
• Protagonist reported a strong latest quarter, posting $0.05 EPS versus an expected loss and revenue of $56.37 million, well above estimates, even as insiders sold shares during the period.

Nan Fung Trinity HK Ltd. raised its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 24.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,670 shares of the company's stock after buying an additional 35,778 shares during the period. Nan Fung Trinity HK Ltd. owned 0.29% of Protagonist Therapeutics worth $15,780,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Truist Financial increased their price objective on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. Leerink Partners increased their price objective on shares of Protagonist Therapeutics from $107.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, March 19th. HC Wainwright increased their price objective on shares of Protagonist Therapeutics from $80.00 to $117.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. Citizens Jmp increased their price objective 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. Finally, Barclays increased their price objective on shares of Protagonist Therapeutics from $113.00 to $119.00 and gave the stock an "overweight" rating in a research report on Thursday, March 19th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.69.

Protagonist Therapeutics Price Performance

PTGX opened at $99.36 on Friday. The company's 50-day moving average is $99.40 and its 200 day moving average is $89.42. Protagonist Therapeutics, Inc. has a fifty-two week low of $42.85 and a fifty-two week high of $107.84. The firm has a market capitalization of $6.39 billion, a P/E ratio of -54.90 and a beta of 1.89.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.50) by $0.55. The business had revenue of $56.37 million for the quarter, compared to analyst estimates of $11.70 million. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. On average, equities research analysts expect that Protagonist Therapeutics, Inc. will post 2.32 earnings per share for the current year.

Insiders Place Their Bets

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 54,641 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $101.00, for a total value of $5,518,741.00. Following the sale, the chief executive officer owned 524,938 shares of the company's stock, valued at approximately $53,018,738. The trade was a 9.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harold E. Selick sold 24,000 shares of Protagonist Therapeutics stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $105.00, for a total transaction of $2,520,000.00. Following the completion of the sale, the director directly owned 60,845 shares in the company, valued at approximately $6,388,725. This represents a 28.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 138,215 shares of company stock valued at $13,866,186. Company insiders own 4.90% of the company's stock.

Protagonist Therapeutics Company Profile

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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