Resona Asset Management Co. Ltd. Purchases New Position in Protagonist Therapeutics, Inc. $PTGX

Resona Asset Management Co. Ltd. acquired a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,731 shares of the company’s stock, valued at approximately $580,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Commodore Capital LP purchased a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at about $59,415,000. Adage Capital Partners GP L.L.C. increased its position in Protagonist Therapeutics by 218.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,092,262 shares of the company’s stock worth $60,369,000 after buying an additional 748,758 shares during the period. BVF Inc. IL lifted its stake in Protagonist Therapeutics by 24.7% in the second quarter. BVF Inc. IL now owns 3,211,041 shares of the company’s stock valued at $177,474,000 after buying an additional 636,026 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Protagonist Therapeutics in the second quarter valued at approximately $29,311,000. Finally, State Street Corp boosted its holdings in shares of Protagonist Therapeutics by 18.5% in the second quarter. State Street Corp now owns 3,207,543 shares of the company’s stock valued at $177,281,000 after acquiring an additional 500,924 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PTGX. Truist Financial lifted their target price on shares of Protagonist Therapeutics from $88.00 to $110.00 and gave the company a “buy” rating in a report on Monday, January 5th. Citigroup lifted their price objective on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Barclays upped their target price on shares of Protagonist Therapeutics from $88.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Weiss Ratings raised Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, December 24th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Protagonist Therapeutics in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.77.

Insider Activity

In related news, CFO Asif Ali sold 46,203 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $83.13, for a total value of $3,840,855.39. Following the sale, the chief financial officer directly owned 60,320 shares in the company, valued at $5,014,401.60. The trade was a 43.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dinesh V. Ph D. Patel sold 4,068 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $83.19, for a total value of $338,416.92. Following the completion of the transaction, the chief executive officer owned 574,505 shares of the company’s stock, valued at $47,793,070.95. The trade was a 0.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 165,167 shares of company stock valued at $13,732,039 in the last three months. 4.90% of the stock is currently owned by company insiders.

Protagonist Therapeutics Stock Down 2.5%

Shares of Protagonist Therapeutics stock opened at $79.73 on Friday. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 128.60 and a beta of 2.26. Protagonist Therapeutics, Inc. has a 52-week low of $33.70 and a 52-week high of $96.54. The company’s 50-day simple moving average is $86.33 and its 200-day simple moving average is $72.53.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. The firm had revenue of $4.71 million during the quarter, compared to analyst estimates of $5.41 million. Equities research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Protagonist Therapeutics 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.