Wellington Management Group LLP Grows Stock Position in Protagonist Therapeutics, Inc. $PTGX

Key Points

• Wellington Management Group LLP increased its stake in Protagonist Therapeutics by 5.0%, acquiring an additional 47,293 shares, bringing its total ownership to 987,370 shares, valued at approximately $47.7 million.
• Insider transactions included the sale of 10,000 shares by Arturo Md Molina and 22,065 shares by CEO Dinesh V. Patel, impacting their respective holdings significantly.
• Protagonist Therapeutics had a market capitalization of $3.58 billion and reported a quarterly earnings loss of ($0.55) EPS, which fell short of analysts' expectations.

Wellington Management Group LLP grew its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 5.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 987,370 shares of the company's stock after purchasing an additional 47,293 shares during the period. Wellington Management Group LLP owned approximately 1.59% of Protagonist Therapeutics worth $47,749,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PTGX. Deep Track Capital LP purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter worth $38,600,000. Toronto Dominion Bank purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter worth $13,162,000. Soleus Capital Management L.P. purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter worth $10,615,000. Burney Co. purchased a new stake in shares of Protagonist Therapeutics during the 1st quarter worth $9,768,000. Finally, Artia Global Partners LP boosted its position in shares of Protagonist Therapeutics by 136.1% during the 4th quarter. Artia Global Partners LP now owns 293,851 shares of the company's stock worth $11,343,000 after purchasing an additional 169,411 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PTGX has been the subject of several research reports. JMP Securities lifted their price target on Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. Citigroup reaffirmed an "outperform" rating on shares of Protagonist Therapeutics in a research note on Thursday, August 7th. Finally, Wall Street Zen raised Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. One equities research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $67.20.

Insider Transactions at Protagonist Therapeutics

In other news, insider Arturo Md Molina sold 10,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $57.03, for a total transaction 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. The trade was a 10.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $54.78, for a total value of $570,533.70. Following the sale, the chief executive officer owned 520,603 shares of the company's stock, valued at $28,518,632.34. The trade was a 1.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,859 shares of company stock valued at $4,020,877 in the last quarter. Company insiders own 4.90% of the company's stock.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX traded up $0.11 during trading on Friday, reaching $58.25. 212,780 shares of the stock were exchanged, compared to its average volume of 921,612. Protagonist Therapeutics, Inc. has a 12-month low of $33.31 and a 12-month high of $61.89. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 83.21 and a beta of 2.33. The firm's 50-day moving average price is $54.47 and its 200 day moving average price is $49.08.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%.The firm had revenue of $5.55 million for the quarter, compared to analysts' expectations of $8.32 million. As a group, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

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.