Skandinaviska Enskilda Banken AB publ Has $12.04 Million Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Key Points

• Skandinaviska Enskilda Banken AB sold 61,700 shares of Protagonist Therapeutics, reducing its stake by 19.9%, leaving it with 248,950 shares valued at approximately $12 million.
• Protagonist Therapeutics' stock price opened at $55.15, with a market cap of $3.42 billion, and has a one-year price range of $32.50 to $60.60.
• Multiple institutional investors are actively trading Protagonist Therapeutics, with 98.63% of its stock owned by such investors, indicating strong institutional interest.

Skandinaviska Enskilda Banken AB publ lowered its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 19.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 248,950 shares of the company's stock after selling 61,700 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.40% of Protagonist Therapeutics worth $12,039,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings 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 last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Protagonist Therapeutics during the fourth quarter worth about $48,000. Covestor Ltd grew its holdings in shares of Protagonist Therapeutics by 5,200.0% during the fourth quarter. Covestor Ltd now owns 1,643 shares of the company's stock worth $63,000 after purchasing an additional 1,612 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Protagonist Therapeutics during the first quarter worth about $117,000. Finally, New Vernon Capital Holdings II LLC bought a new stake in shares of Protagonist Therapeutics during the fourth quarter worth about $118,000. Institutional investors own 98.63% of the company's stock.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 10,000 shares of the business's stock in a transaction that occurred 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 directly owned 83,892 shares of the company's stock, valued at approximately $4,784,360.76. The trade was a 10.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $55.05, for a total value of $1,214,678.25. Following the completion of the transaction, the chief executive officer directly owned 548,538 shares in the company, valued at approximately $30,197,016.90. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,859 shares of company stock worth $4,020,877. Insiders own 4.90% of the company's stock.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock traded down $0.34 during midday trading on Wednesday, reaching $54.67. The company had a trading volume of 95,757 shares, compared to its average volume of 964,211. The stock has a fifty day moving average price of $52.69 and a 200 day moving average price of $46.46. The firm has a market cap of $3.39 billion, a PE ratio of 72.87 and a beta of 2.26. Protagonist Therapeutics, Inc. has a fifty-two week low of $32.50 and a fifty-two week high of $60.60.

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

Analyst Ratings Changes

PTGX has been the topic of several research reports. 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. Citigroup initiated coverage on Protagonist Therapeutics in a report on Tuesday, June 17th. They set a "buy" rating and a $72.00 price target on the stock. Finally, Wall Street Zen upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $66.10.

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.