Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Holdings Raised by XTX Topco Ltd

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 boosted its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 111.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,257 shares of the company's stock after buying an additional 7,513 shares during the quarter. XTX Topco Ltd's holdings in Protagonist Therapeutics were worth $689,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Protagonist Therapeutics by 153.3% in the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock worth $58,000 after buying an additional 728 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Protagonist Therapeutics during the 4th quarter valued at $48,000. Covestor Ltd raised its holdings in shares of 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 purchasing an additional 1,612 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Protagonist Therapeutics during the 1st quarter valued at $117,000. Finally, New Vernon Capital Holdings II LLC bought a new position in shares of Protagonist Therapeutics during the 4th quarter valued at $118,000. Hedge funds and other institutional investors own 98.63% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PTGX. Wall Street Zen upgraded shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. Citigroup began coverage on shares of Protagonist Therapeutics in a report on Tuesday, June 17th. They set a "buy" rating and a $72.00 price target on the stock. Finally, HC Wainwright restated a "buy" rating and set a $80.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.10.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX opened at $53.83 on Tuesday. The firm's 50-day moving average is $53.35 and its 200-day moving average is $47.00. Protagonist Therapeutics, Inc. has a 52-week low of $32.50 and a 52-week high of $60.60. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 71.77 and a beta of 2.33.

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

Insider Activity

In other news, insider Arturo Md Molina sold 10,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total transaction of $570,300.00. Following the transaction, the insider owned 83,892 shares in the company, valued at approximately $4,784,360.76. The trade was a 10.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the stock in a transaction dated 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 $30,197,016.90. This trade represents a 3.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,859 shares of company stock worth $4,020,877. Insiders own 4.90% of the company's stock.

Protagonist Therapeutics Company 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.

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