Protagonist Therapeutics, Inc. $PTGX Stock Holdings Trimmed by Nan Fung Trinity HK Ltd.

Key Points

• Nan Fung Trinity HK Ltd. cut its Protagonist Therapeutics stake by 57.3% in the third quarter, selling 206,834 shares and retaining 153,820 shares valued at about $21.7 million.
• Analysts remain broadly bullish: 16 rate PTGX a Buy and one a Strong Buy, with a consensus price target of $166.67.
• Protagonist reported quarterly EPS of $3.07, beating the $2.50 consensus estimate, and revenue of $274.41 million versus estimates of $238.49 million.

Nan Fung Trinity HK Ltd. decreased its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 57.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 153,820 shares of the company's stock after selling 206,834 shares during the period. Protagonist Therapeutics makes up approximately 2.1% of Nan Fung Trinity HK Ltd.'s holdings, making the stock its 20th largest position. Nan Fung Trinity HK Ltd. owned approximately 0.24% of Protagonist Therapeutics worth $21,672,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in shares of Protagonist Therapeutics during the second quarter worth about $162,357,000. Johnson & Johnson purchased a new position in Protagonist Therapeutics during the second quarter worth about $300,220,852. Hsbc Holdings PLC lifted its position in Protagonist Therapeutics by 1,260.9% in the second quarter. Hsbc Holdings PLC now owns 25,952 shares of the company's stock valued at $3,198,000 after purchasing an additional 24,045 shares during the period. Deutsche Bank AG acquired a new stake in Protagonist Therapeutics in the second quarter valued at about $17,387,000. Finally, Stempoint Capital LP lifted its position in Protagonist Therapeutics by 22.1% in the first quarter. Stempoint Capital LP now owns 72,577 shares of the company's stock valued at $7,650,000 after purchasing an additional 13,147 shares during the period. 98.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PTGX. Truist Financial lifted their price objective on Protagonist Therapeutics from $145.00 to $170.00 and gave the company a "buy" rating in a report on Monday, August 10th. Johnson Rice set a $165.00 target price on Protagonist Therapeutics in a research note on Friday, July 17th. TD Cowen raised their price target on Protagonist Therapeutics from $155.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, October 21st. Wolfe Research restated an "outperform" rating on shares of Protagonist Therapeutics in a research note on Monday, August 31st. Finally, Citigroup upped their price objective on Protagonist Therapeutics from $175.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company's stock. According to MarketBeat, Protagonist Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $166.67.

Protagonist Therapeutics Trading Down 0.4%

PTGX stock opened at $134.38 on Friday. The firm has a 50 day moving average of $140.65 and a 200-day moving average of $118.87. Protagonist Therapeutics, Inc. has a 12-month low of $77.00 and a 12-month high of $160.81. The company has a market cap of $8.77 billion, a price-to-earnings ratio of 28.57 and a beta of 1.21.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $3.07 EPS for the quarter, topping the consensus estimate of $2.50 by $0.57. The business had revenue of $274.41 million for the quarter, compared to analyst estimates of $238.49 million. Protagonist Therapeutics had a return on equity of 42.83% and a net margin of 62.04%. Sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 5.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 58,629 shares of the business's stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $141.78, for a total transaction of $8,312,419.62. Following the sale, the chief financial officer directly owned 59,003 shares in the company, valued at approximately $8,365,445.34. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 63,548 shares of the company's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $146.18, for a total value of $9,289,446.64. Following the completion of the sale, the chief executive officer directly owned 522,968 shares in the company, valued at $76,447,462.24. This trade represents a 10.83% 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. Over the last ninety days, insiders have sold 183,629 shares of company stock valued at $26,552,987. 5.19% of the stock is currently owned by insiders.

Protagonist Therapeutics Profile

Protagonist Therapeutics is a clinical-stage biopharmaceutical company that discovers and develops peptide-based medicines, primarily for inflammatory and blood disorders. Its research approach uses engineered peptides designed to act on specific biological targets. The company's programs include rusfertide, a hepcidin mimetic being developed for polycythemia vera, and icotrokinra, an oral interleukin-23 receptor antagonist being developed for immune-mediated diseases. Protagonist has entered into licensing and development collaborations for these programs with Takeda and Johnson & Johnson, respectively; they are investigational medicines, not approved treatments.

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