XTX Topco Ltd Grows Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Key Points

• XTX Topco Ltd increased its stake in Protagonist Therapeutics by 111.4% in Q1, now holding 14,257 shares valued at $689,000.
• Multiple institutional investors, including GAMMA Investing LLC and Covestor Ltd, have significantly raised their positions in Protagonist Therapeutics, with institutional investors owning 98.63% of the company's stock.
• Protagonist Therapeutics reported an EPS of $(0.19), surpassing estimates, and has a consensus rating of "Moderate Buy" with a target price of $66.10.

XTX Topco Ltd increased its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 111.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,257 shares of the company's stock after acquiring an additional 7,513 shares during the period. XTX Topco Ltd's holdings in Protagonist Therapeutics were worth $689,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of PTGX. GSA Capital Partners LLP acquired a new stake in Protagonist Therapeutics during the first quarter worth approximately $579,000. Mackenzie Financial Corp lifted its stake in Protagonist Therapeutics by 6.3% during the first quarter. Mackenzie Financial Corp now owns 22,698 shares of the company's stock worth $1,098,000 after purchasing an additional 1,349 shares during the last quarter. Royce & Associates LP bought a new stake in Protagonist Therapeutics during the first quarter worth $593,000. Burney Co. bought a new stake in Protagonist Therapeutics during the first quarter worth $9,768,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Protagonist Therapeutics in the 1st quarter valued at $203,000. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Trading Down 0.3%

Protagonist Therapeutics stock traded down $0.13 during mid-day trading on Friday, hitting $50.83. The stock had a trading volume of 209,281 shares, compared to its average volume of 944,801. The firm has a market capitalization of $3.15 billion, a P/E ratio of 72.70 and a beta of 2.33. Protagonist Therapeutics, Inc. has a one year low of $33.31 and a one year high of $60.60. The firm's 50 day moving average is $53.73 and its 200 day moving average is $47.20.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.23%. The business had revenue of $5.55 million for the quarter, compared to analysts' expectations of $8.32 million. As a group, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PTGX. Citigroup reiterated an "outperform" rating on shares of Protagonist Therapeutics in a report on Thursday. HC Wainwright reiterated a "buy" rating and set a $80.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Wall Street Zen upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. Finally, JMP Securities raised their target price on 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 given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $67.20.

Insider Buying and Selling

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 shares were sold at an average price of $57.03, for a total value of $570,300.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $55.05, for a total transaction 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 approximately $30,197,016.90. This represents a 3.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,859 shares of company stock worth $4,020,877. Insiders own 4.90% of the company's stock.

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.