Protagonist Therapeutics, Inc. $PTGX Position Cut by Nan Fung Trinity HK Ltd.

Nan Fung Trinity HK Ltd. lessened its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 57.3% during the 3rd quarter, Holdings Channel reports. The firm owned 153,820 shares of the company’s stock after selling 206,834 shares during the quarter. Protagonist Therapeutics comprises 2.1% of Nan Fung Trinity HK Ltd.’s investment portfolio, making the stock its 20th biggest holding. Nan Fung Trinity HK Ltd.’s holdings in Protagonist Therapeutics were worth $21,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Keating Financial Advisory Services Inc. acquired a new stake in shares of Protagonist Therapeutics in the second quarter valued at approximately $30,000. Allworth Financial LP purchased a new position in shares of Protagonist Therapeutics during the 2nd quarter worth approximately $31,000. Quantbot Technologies LP acquired a new position in shares of Protagonist Therapeutics during the 2nd quarter worth approximately $42,000. Parallel Advisors LLC raised its position in shares of Protagonist Therapeutics by 205.9% during the 3rd quarter. Parallel Advisors LLC now owns 361 shares of the company’s stock worth $51,000 after purchasing an additional 243 shares during the last quarter. Finally, Harbor Investment Advisory LLC purchased a new stake in Protagonist Therapeutics in the 2nd quarter valued at approximately $89,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Insider Buying and Selling

In related news, CFO Asif Ali sold 58,629 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $141.78, for a total value of $8,312,419.62. Following the completion of the sale, the chief financial officer directly owned 59,003 shares in the company, valued at approximately $8,365,445.34. The trade was a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinsesh Patel sold 7,278 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $144.10, for a total transaction of $1,048,759.80. Following the transaction, the chief executive officer directly owned 522,968 shares of the company’s stock, valued at $75,359,688.80. This trade represents a 1.37% 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 183,629 shares of company stock valued at $26,552,987. 5.19% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on PTGX. HC Wainwright increased their target price on Protagonist Therapeutics from $170.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 6th. UBS Group reissued a “buy” rating on shares of Protagonist Therapeutics in a report on Tuesday, November 3rd. Truist Financial upped their price objective on Protagonist Therapeutics from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Wedbush reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research report on Monday. Finally, Leerink Partners began coverage on shares of Protagonist Therapeutics in a research note on Monday, October 12th. They issued an “outperform” rating and a $190.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $166.67.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $134.38 on Friday. The stock has a market capitalization of $8.77 billion, a P/E ratio of 28.57 and a beta of 1.21. Protagonist Therapeutics, Inc. has a one year low of $77.00 and a one year high of $160.81. The company has a 50 day moving average price of $140.65 and a two-hundred day moving average price of $118.87.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Thursday, November 5th. The company reported $3.07 EPS for the quarter, beating the consensus estimate of $2.50 by $0.57. The firm had revenue of $274.41 million during the quarter, compared to analyst estimates of $238.49 million. Protagonist Therapeutics had a return on equity of 42.83% and a net margin of 62.04%. Research analysts forecast that Protagonist Therapeutics, Inc. will post 5.52 earnings per share for the current fiscal year.

About Protagonist Therapeutics

Protagonist Therapeutics is a clinical-stage biopharmaceutical company that discovers and develops peptide-based medicines, primarily for inflammatory and blood disorders. Its research approach uses engineered peptides designed to act on specific biological targets. The company’s programs include rusfertide, a hepcidin mimetic being developed for polycythemia vera, and icotrokinra, an oral interleukin-23 receptor antagonist being developed for immune-mediated diseases. Protagonist has entered into licensing and development collaborations for these programs with Takeda and Johnson & Johnson, respectively; they are investigational medicines, not approved treatments.