Protagonist Therapeutics, Inc. $PTGX Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,458 shares of the company’s stock after acquiring an additional 330 shares during the quarter. Hsbc Holdings PLC’s holdings in Protagonist Therapeutics were worth $405,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in Protagonist Therapeutics by 5.0% during the 1st quarter. Wellington Management Group LLP now owns 987,370 shares of the company’s stock worth $47,749,000 after acquiring an additional 47,293 shares in the last quarter. Northern Trust Corp raised its stake in Protagonist Therapeutics by 1.7% during the 1st quarter. Northern Trust Corp now owns 639,507 shares of the company’s stock worth $30,927,000 after acquiring an additional 10,927 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Protagonist Therapeutics during the 1st quarter worth $68,000. Algert Global LLC raised its stake in Protagonist Therapeutics by 5.3% during the 1st quarter. Algert Global LLC now owns 18,665 shares of the company’s stock worth $903,000 after acquiring an additional 945 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Protagonist Therapeutics during the 1st quarter worth $2,599,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on PTGX. Citigroup reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 8th. JMP Securities lifted their price objective on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. One investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $67.20.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $58.85 on Wednesday. The firm has a market cap of $3.66 billion, a PE ratio of 84.07 and a beta of 2.22. Protagonist Therapeutics, Inc. has a one year low of $33.31 and a one year high of $61.89. The firm’s fifty day moving average is $54.80 and its two-hundred day moving average is $49.59.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). The business had revenue of $5.55 million during the quarter, compared to analyst estimates of $8.32 million. Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. Research analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 10,415 shares of Protagonist Therapeutics stock in a transaction dated Friday, July 25th. The shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Arturo Md Molina sold 10,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total transaction of $570,300.00. Following the completion of the sale, the insider directly 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 disclosure for this sale can be found here. Insiders have sold a total of 76,859 shares of company stock valued at $4,257,877 over the last quarter. Corporate insiders own 4.90% of the company’s stock.

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.