Protagonist Therapeutics, Inc. $PTGX Shares Bought by Algert Global LLC

Key Points

• Algert Global increased its Protagonist Therapeutics stake by 11.8% in the second quarter to 87,698 shares, while institutional investors and hedge funds collectively owned 98.63% of PTGX. Other major investors, including BlackRock, Johnson & Johnson, Janus Henderson, Wellington Management and Vanguard, also added positions.
• Analyst sentiment is broadly positive, with PTGX carrying a consensus “Moderate Buy” rating and an average price target of $140.53. Goldman Sachs upgraded the stock to “buy” and raised its target to $186.
• PTGX shares opened at $150.59, near their 52-week high of $160.81, after the company slightly exceeded quarterly earnings and revenue estimates. However, insiders sold 127,000 shares worth approximately $17.8 million over the past 90 days.

Algert Global LLC grew its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 11.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,698 shares of the company's stock after purchasing an additional 9,228 shares during the quarter. Algert Global LLC owned about 0.14% of Protagonist Therapeutics worth $10,750,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at $1,263,535,000. Johnson & Johnson purchased a new position in Protagonist Therapeutics during the 2nd quarter worth $300,220,852,000. Janus Henderson Group PLC grew its stake in Protagonist Therapeutics by 140.7% during the 4th quarter. Janus Henderson Group PLC now owns 2,649,981 shares of the company's stock worth $231,355,000 after buying an additional 1,549,160 shares during the last quarter. Wellington Management Group LLP grew its stake in Protagonist Therapeutics by 66.2% during the 4th quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company's stock worth $276,992,000 after buying an additional 1,262,977 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Protagonist Therapeutics by 27.2% during the 4th quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company's stock valued at $472,832,000 after buying an additional 1,156,461 shares in the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on PTGX. UBS Group upgraded Protagonist Therapeutics to a "buy" rating in a research note on Monday, August 10th. The Goldman Sachs Group upgraded Protagonist Therapeutics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $110.00 to $186.00 in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Protagonist Therapeutics from a "sell (d+)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Zacks Research lowered shares of Protagonist Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 7th. Finally, Citizens Jmp lifted their target price on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a "market outperform" rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $140.53.

Insider Transactions at Protagonist Therapeutics

In related news, Director William D. Waddill sold 9,000 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total value of $1,061,460.00. Following the sale, the director owned 7,825 shares in the company, valued at $922,880.50. This represents a 53.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 34,239 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $148.52, for a total value of $5,085,176.28. Following the completion of the sale, the chief executive officer owned 523,478 shares in the company, valued at approximately $77,746,952.56. This represents a 6.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 127,000 shares of company stock valued at $17,818,139 in the last ninety days. Corporate insiders own 5.19% of the company's stock.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $150.59 on Wednesday. The business has a fifty day moving average of $136.34 and a 200 day moving average of $111.31. Protagonist Therapeutics, Inc. has a 1 year low of $54.50 and a 1 year high of $160.81. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 146.21 and a beta of 1.78.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.02. The business had revenue of $213.47 million for the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The business's revenue was up 3746.8% on a year-over-year basis. As a group, equities research analysts expect that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current year.

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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