Jupiter Topco LLC Acquires New Shares in Protagonist Therapeutics, Inc. $PTGX

Jupiter Topco LLC bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,129,780 shares of the company’s stock, valued at approximately $261,039,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Keating Financial Advisory Services Inc. purchased a new position in Protagonist Therapeutics during the second quarter valued at approximately $30,000. Allworth Financial LP purchased a new position in shares of Protagonist Therapeutics during the 2nd quarter valued at $31,000. Farther Finance Advisors LLC grew its position in shares of Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after purchasing an additional 156 shares in the last quarter. Greenline Wealth Management LLC purchased a new stake in shares of Protagonist Therapeutics in the fourth quarter worth $27,000. Finally, Quantbot Technologies LP bought a new stake in Protagonist Therapeutics during the second quarter valued at $42,000. 98.63% of the stock is currently owned by institutional investors.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 65,761 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $149.11, for a total value of $9,805,622.71. Following the transaction, the chief executive officer owned 523,478 shares of the company’s stock, valued at approximately $78,055,804.58. This trade represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William D. Waddill sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the sale, the director owned 7,825 shares of the company’s stock, valued at $922,880.50. This trade represents a 53.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 127,000 shares of company stock worth $17,818,139 in the last quarter. Company insiders own 5.19% of the company’s stock.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $150.59 on Wednesday. The company has a 50-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 cap of $9.74 billion, a price-to-earnings ratio of 146.21 and a beta of 1.78.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.02. The firm had revenue of $213.47 million for the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The business’s quarterly revenue was up 3746.8% on a year-over-year basis. On average, equities analysts anticipate that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on PTGX. Wall Street Zen upgraded Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Barclays upped their target price on shares of Protagonist Therapeutics from $151.00 to $153.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. Weiss Ratings raised shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Finally, Citigroup increased their price target on shares of Protagonist Therapeutics from $130.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.53.

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.