Seven Fleet Capital Management LP Purchases 41,400 Shares of Protagonist Therapeutics, Inc. $PTGX

Seven Fleet Capital Management LP grew its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 1,035.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,400 shares of the company’s stock after purchasing an additional 41,400 shares during the quarter. Protagonist Therapeutics makes up 0.9% of Seven Fleet Capital Management LP’s holdings, making the stock its 25th biggest holding. Seven Fleet Capital Management LP owned approximately 0.07% of Protagonist Therapeutics worth $5,565,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Johnson & Johnson bought a new position in Protagonist Therapeutics during the 2nd quarter worth $300,220,852,000. NEXTBio Capital Management LP acquired a new stake in shares of Protagonist Therapeutics in the fourth quarter valued at about $20,055,000. Jennison Associates LLC acquired a new stake in shares of Protagonist Therapeutics in the fourth quarter valued at about $28,924,000. Deutsche Bank AG bought a new position in shares of Protagonist Therapeutics during the second quarter worth about $17,387,000. Finally, Clearbridge Investments LLC bought a new position in shares of Protagonist Therapeutics during the fourth quarter worth about $42,783,000. 98.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Truist Financial upped their target price on Protagonist Therapeutics from $145.00 to $170.00 and gave the company a “buy” rating in a report on Monday, August 10th. TD Cowen restated a “buy” rating on shares of Protagonist Therapeutics in a research report on Wednesday, July 1st. UBS Group raised shares of Protagonist Therapeutics to a “buy” rating in a research note on Monday, August 10th. Citigroup increased their price objective on shares of Protagonist Therapeutics from $130.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Citizens Jmp boosted their target price on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $140.53.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $151.50 on Thursday. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of 147.09 and a beta of 1.78. Protagonist Therapeutics, Inc. has a 52-week low of $54.50 and a 52-week high of $160.81. The stock’s 50 day moving average price is $137.15 and its two-hundred day moving average price is $111.81.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.02. The company had revenue of $213.47 million during the quarter, compared to analyst estimates of $212.03 million. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The company’s quarterly revenue was up 3746.8% compared to the same quarter last year. On average, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current year.

Insider Activity

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 34,239 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $148.52, for a total value of $5,085,176.28. Following the transaction, the chief executive officer owned 523,478 shares in the company, valued at approximately $77,746,952.56. This represents a 6.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William D. Waddill sold 9,000 shares of the firm’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 value of $1,061,460.00. Following the completion of the sale, the director directly owned 7,825 shares of the company’s stock, valued at $922,880.50. This trade represents a 53.49% 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 90 days, insiders sold 127,000 shares of company stock valued at $17,818,139. 5.19% of the stock is currently owned by company insiders.

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.