E Fund Management Co. Ltd. Takes Position in Protagonist Therapeutics, Inc. $PTGX

E Fund Management Co. Ltd. acquired a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 3,891 shares of the company’s stock, valued at approximately $477,000.

A number of other large investors have also bought and sold shares of the business. Eagle Health Investments LP acquired a new stake in Protagonist Therapeutics during the 2nd quarter worth approximately $30,439,000. Great Lakes Advisors LLC bought a new position in Protagonist Therapeutics in the second quarter valued at approximately $6,975,000. BlackRock Inc. acquired a new position in shares of Protagonist Therapeutics in the second quarter valued at approximately $1,263,535,000. Deutsche Bank AG acquired a new position in shares of Protagonist Therapeutics in the second quarter valued at approximately $17,387,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Protagonist Therapeutics during the second quarter worth $129,000. 98.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of Protagonist Therapeutics from $112.00 to $178.00 and gave the stock an “outperform” rating in a report on Monday. 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. Citizens Jmp increased their target price on Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. Wolfe Research began coverage on Protagonist Therapeutics in a research note on Thursday, May 21st. They issued an “outperform” rating and a $135.00 price target on the stock. Finally, Zacks Research lowered Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. One investment 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $140.53.

Protagonist Therapeutics Stock Down 2.7%

NASDAQ PTGX opened at $150.69 on Friday. The firm’s 50 day moving average is $133.81 and its 200-day moving average is $109.85. The company has a market capitalization of $9.75 billion, a PE ratio of 146.30 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 announced its earnings results on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.27 by $0.02. The business had revenue of $213.47 million during the quarter, compared to analysts’ expectations of $212.03 million. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The business’s revenue was up 3746.8% compared to the same quarter last year. As a group, sell-side analysts expect that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 9,000 shares of the business’s stock in a transaction dated 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 directly owned 7,825 shares of the company’s stock, valued at $922,880.50. The trade was a 53.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 34,239 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 523,478 shares in the company, valued at $77,746,952.56. The trade was a 6.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 over the last quarter. Company insiders own 5.19% of the company’s stock.

About Protagonist Therapeutics

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.