Wellington Management Group LLP Has $418.83 Million Stock Position in Protagonist Therapeutics, Inc. $PTGX

Wellington Management Group LLP lessened its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 5.1% in the second quarter, HoldingsChannel reports. The fund owned 3,416,781 shares of the company’s stock after selling 182,863 shares during the quarter. Wellington Management Group LLP owned approximately 0.05% of Protagonist Therapeutics worth $418,829,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of Protagonist Therapeutics by 110.6% during the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after acquiring an additional 156 shares in the last quarter. Greenline Wealth Management LLC bought a new position in shares of Protagonist Therapeutics in the 4th quarter worth $27,000. Keating Financial Advisory Services Inc. acquired a new stake in Protagonist Therapeutics in the 2nd quarter valued at $30,000. Allworth Financial LP acquired a new stake in Protagonist Therapeutics in the 2nd quarter valued at $31,000. Finally, Quantbot Technologies LP bought a new stake in Protagonist Therapeutics during the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Trading Down 3.5%

NASDAQ PTGX opened at $144.33 on Friday. The business has a fifty day simple moving average of $138.51 and a 200 day simple moving average of $112.49. Protagonist Therapeutics, Inc. has a 12 month low of $54.50 and a 12 month high of $160.81. The firm has a market capitalization of $9.34 billion, a P/E ratio of 140.13 and a beta of 1.78.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.02. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The firm had revenue of $213.47 million for the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics’s quarterly revenue was up 3746.8% compared to the same quarter last year. As a group, sell-side analysts predict that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Zacks Research downgraded shares of Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Citigroup lifted their price objective on shares of Protagonist Therapeutics from $130.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wolfe Research began coverage on shares of Protagonist Therapeutics in a research report on Thursday, May 21st. They set an “outperform” rating and a $135.00 target price for the company. Weiss Ratings upgraded shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Finally, BMO Capital Markets raised their price target on shares of Protagonist Therapeutics from $112.00 to $178.00 and gave the company an “outperform” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.53.

Insider Transactions at Protagonist Therapeutics

In related news, Director William D. Waddill sold 9,000 shares of the firm’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 transaction, the director directly owned 7,825 shares of the company’s stock, valued at $922,880.50. This trade represents a 53.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 65,761 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $149.11, for a total transaction of $9,805,622.71. Following the transaction, the chief executive officer owned 523,478 shares in the company, valued at approximately $78,055,804.58. This trade represents a 11.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 118,000 shares of company stock worth $16,921,379 over the last three months. 5.19% of the stock is owned by insiders.

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.