Pictet Asset Management Holding SA Purchases 289,213 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Pictet Asset Management Holding SA lifted its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 3,962.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 296,511 shares of the company's stock after acquiring an additional 289,213 shares during the quarter. Pictet Asset Management Holding SA owned about 0.50% of Protagonist Therapeutics worth $11,445,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in Protagonist Therapeutics by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company's stock worth $25,448,000 after acquiring an additional 39,850 shares during the period. Cerity Partners LLC grew its stake in shares of Protagonist Therapeutics by 26.7% in the 3rd quarter. Cerity Partners LLC now owns 14,241 shares of the company's stock worth $641,000 after purchasing an additional 3,005 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Protagonist Therapeutics by 1.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 115,765 shares of the company's stock worth $5,209,000 after purchasing an additional 1,359 shares during the last quarter. FMR LLC raised its holdings in shares of Protagonist Therapeutics by 4.5% in the 3rd quarter. FMR LLC now owns 454,196 shares of the company's stock worth $20,439,000 after purchasing an additional 19,737 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Protagonist Therapeutics by 448.9% during the third quarter. BNP Paribas Financial Markets now owns 20,294 shares of the company's stock valued at $913,000 after purchasing an additional 16,597 shares during the last quarter. Institutional investors own 98.63% of the company's stock.

Remove Ads

Protagonist Therapeutics Trading Down 2.8 %

NASDAQ PTGX traded down $1.23 during trading on Monday, reaching $43.21. 1,590,204 shares of the company's stock were exchanged, compared to its average volume of 813,435. Protagonist Therapeutics, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $60.60. The company's fifty day simple moving average is $43.58 and its 200-day simple moving average is $42.89. The firm has a market capitalization of $2.65 billion, a PE ratio of 16.24 and a beta of 2.30.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, topping the consensus estimate of ($0.09) by $2.07. The business had revenue of $170.64 million during the quarter, compared to analysts' expectations of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Insider Activity

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the transaction, the chief executive officer now owns 540,260 shares of the company's stock, valued at approximately $20,627,126.80. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Waddill sold 4,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.25, for a total transaction of $217,000.00. Following the completion of the sale, the director now directly owns 13,130 shares of the company's stock, valued at $712,302.50. This represents a 23.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,776 shares of company stock worth $3,585,010 in the last ninety days. Corporate insiders own 5.40% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on PTGX. HC Wainwright restated a "buy" rating and issued a $54.00 price target on shares of Protagonist Therapeutics in a research report on Monday, March 10th. JMP Securities restated a "market outperform" rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 7th. BMO Capital Markets upped their target price on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. Wedbush reissued an "outperform" rating and issued a $70.00 price target on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Finally, BTIG Research set a $73.00 price objective on shares of Protagonist Therapeutics in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $62.56.

About Protagonist Therapeutics

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.