Hsbc Holdings PLC Acquires New Holdings in Protagonist Therapeutics, Inc. $PTGX

Hsbc Holdings PLC acquired a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,952 shares of the company’s stock, valued at approximately $3,198,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PTGX. Royal Bank of Canada raised its position in shares of Protagonist Therapeutics by 30.6% during the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after buying an additional 2,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Protagonist Therapeutics by 0.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after acquiring an additional 348 shares during the period. Millennium Management LLC increased its stake in shares of Protagonist Therapeutics by 283.6% during the first quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock valued at $6,493,000 after acquiring an additional 99,269 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Protagonist Therapeutics during the second quarter worth approximately $987,000. Finally, Guggenheim Capital LLC lifted its position in Protagonist Therapeutics by 1.6% in the second quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after purchasing an additional 303 shares during the period. Institutional investors own 98.63% of the company’s stock.

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 65,761 shares of Protagonist Therapeutics 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 directly owned 523,478 shares of the company’s stock, valued at $78,055,804.58. This trade represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 company’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 completion of the sale, the director owned 7,825 shares of the company’s stock, valued at approximately $922,880.50. This trade represents a 53.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 118,000 shares of company stock valued at $16,921,379. Corporate insiders own 5.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PTGX shares. Barclays lifted their price target on Protagonist Therapeutics from $151.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Citigroup boosted their price target 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. BMO Capital Markets upped their price target on shares of Protagonist Therapeutics from $112.00 to $178.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Johnson Rice set a $165.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, July 17th. Finally, Wolfe Research started coverage on shares of Protagonist Therapeutics in a report on Thursday, May 21st. They issued an “outperform” rating and a $135.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.53.

Protagonist Therapeutics Stock Down 3.5%

Shares of Protagonist Therapeutics stock opened at $144.33 on Friday. The stock’s fifty day moving average is $138.51 and its 200-day moving average is $112.49. The firm has a market capitalization of $9.34 billion, a PE ratio of 140.13 and a beta of 1.78. Protagonist Therapeutics, Inc. has a 12-month low of $54.50 and a 12-month high of $160.81.

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

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.