Protagonist Therapeutics, Inc. $PTGX Holdings Raised by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Protagonist Therapeutics by 1.4%, holding approximately 6.90% of the company, valued at $206.85 million as of its latest SEC filing.
• Protagonist Therapeutics, which develops peptide-based drugs, reported **earnings of ($0.55) per share**, missing estimates, and had revenue of **$5.55 million**, below analyst expectations.
• Analysts have a generally positive outlook on Protagonist Therapeutics, with an average target price of **$67.20** and most research firms maintaining a "buy" rating on the stock.

Vanguard Group Inc. grew its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,277,218 shares of the company's stock after purchasing an additional 57,181 shares during the period. Vanguard Group Inc. owned approximately 6.90% of Protagonist Therapeutics worth $206,846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PTGX. Deep Track Capital LP bought a new position in Protagonist Therapeutics in the 4th quarter worth about $38,600,000. Wellington Management Group LLP boosted its holdings in shares of Protagonist Therapeutics by 3,025.4% in the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company's stock valued at $36,287,000 after acquiring an additional 909,998 shares in the last quarter. Toronto Dominion Bank bought a new position in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $13,162,000. Soleus Capital Management L.P. bought a new position in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $10,615,000. Finally, Eversept Partners LP boosted its holdings in shares of Protagonist Therapeutics by 52.5% in the fourth quarter. Eversept Partners LP now owns 678,787 shares of the company's stock valued at $26,201,000 after acquiring an additional 233,583 shares in the last quarter. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Stock Up 2.6%

NASDAQ:PTGX traded up $1.44 during trading hours on Friday, reaching $57.48. 470,129 shares of the company's stock were exchanged, compared to its average volume of 605,768. The company has a market capitalization of $3.58 billion, a P/E ratio of 82.12 and a beta of 2.33. Protagonist Therapeutics, Inc. has a 12 month low of $33.31 and a 12 month high of $60.60. The business's 50-day simple moving average is $54.15 and its two-hundred day simple moving average is $48.53.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued 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 business 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%. As a group, sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PTGX has been the subject of several recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Citigroup reiterated an "outperform" rating on shares of Protagonist Therapeutics in a report on Thursday, August 7th. JMP Securities increased their price objective on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the company a "market outperform" rating in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $67.20.

Insider Activity at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total value of $570,300.00. Following the completion of the sale, the insider owned 83,892 shares in the company, valued at approximately $4,784,360.76. This represents a 10.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $54.78, for a total transaction of $570,533.70. Following the completion of the sale, the chief executive officer owned 520,603 shares of the company's stock, valued at approximately $28,518,632.34. This trade represents a 1.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,859 shares of company stock valued at $4,020,877. 4.90% of the stock is owned by insiders.

Protagonist Therapeutics 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.