Public Sector Pension Investment Board Has $9.14 Million Position in Protagonist Therapeutics, Inc. $PTGX

Key Points

• The Public Sector Pension Investment Board increased its stake in Protagonist Therapeutics by 27.3%, owning approximately 0.31% of the company worth $9.14 million after purchasing additional shares.
• Insider trading activity included Arturo Md Molina and CEO Dinesh V. Patel selling shares, decreasing their ownership by 10.65% and 1.96%, respectively.
• Protagonist Therapeutics reported a quarterly net margin of 24.88% but missed earnings estimates, with a net revenue of $5.55 million compared to predictions of $8.32 million.

Public Sector Pension Investment Board lifted its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 27.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,031 shares of the company's stock after purchasing an additional 40,542 shares during the quarter. Public Sector Pension Investment Board owned 0.31% of Protagonist Therapeutics worth $9,142,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Protagonist Therapeutics by 153.3% during the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock worth $58,000 after purchasing an additional 728 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Protagonist Therapeutics during the fourth quarter worth about $48,000. PNC Financial Services Group Inc. grew its holdings in shares of Protagonist Therapeutics by 38.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,992 shares of the company's stock worth $96,000 after buying an additional 551 shares in the last quarter. Covestor Ltd raised its position in Protagonist Therapeutics by 27.0% in the 1st quarter. Covestor Ltd now owns 2,087 shares of the company's stock valued at $101,000 after buying an additional 444 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Protagonist Therapeutics in the 1st quarter valued at approximately $117,000. Institutional investors and hedge funds own 98.63% of the company's stock.

Insider Buying and Selling

In other Protagonist Therapeutics news, 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 transaction, the chief executive officer owned 548,538 shares in the company, valued at $30,197,016.90. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arturo Md Molina sold 10,000 shares of the firm's stock in a transaction 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 transaction, the insider owned 83,892 shares in the company, valued at approximately $4,784,360.76. This trade represents a 10.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,859 shares of company stock worth $4,020,877. 4.90% of the stock is owned by corporate insiders.

Protagonist Therapeutics Trading Up 0.3%

Shares of PTGX traded up $0.16 during mid-day trading on Monday, reaching $56.23. The company's stock had a trading volume of 239,178 shares, compared to its average volume of 935,764. Protagonist Therapeutics, Inc. has a 1-year low of $33.31 and a 1-year high of $60.60. The stock has a market cap of $3.50 billion, a P/E ratio of 80.42 and a beta of 2.33. The business has a 50-day simple moving average of $54.11 and a two-hundred day simple moving average of $48.02.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share 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 return on equity of 8.12% and a net margin of 24.88%. Research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Analysts Set New Price Targets

PTGX has been the subject of several recent research reports. JMP Securities increased their price target on Protagonist Therapeutics from $67.00 to $69.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Wall Street Zen raised Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. Finally, Citigroup reissued an "outperform" rating on shares of Protagonist Therapeutics in a research report on Thursday, August 7th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $67.20.

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.