Great Lakes Advisors LLC Buys New Position in Protagonist Therapeutics, Inc. $PTGX

Great Lakes Advisors LLC purchased a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 56,904 shares of the company’s stock, valued at approximately $6,975,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PTGX. Royal Bank of Canada boosted its holdings in Protagonist Therapeutics by 30.6% during the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after acquiring an additional 2,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Protagonist Therapeutics by 0.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after purchasing an additional 348 shares during the last quarter. Millennium Management LLC lifted its position in shares of Protagonist Therapeutics by 283.6% during the first quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock valued at $6,493,000 after purchasing an additional 99,269 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Protagonist Therapeutics during the second quarter valued at about $987,000. Finally, Guggenheim Capital LLC boosted its holdings in Protagonist Therapeutics by 1.6% during the second quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after purchasing an additional 303 shares during the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PTGX. TD Cowen restated a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. Johnson Rice set a $165.00 price target on Protagonist Therapeutics in a research report on Friday, July 17th. Weiss Ratings upgraded Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. The Goldman Sachs Group raised Protagonist Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $186.00 in a research report on Monday, August 10th. Finally, Citizens Jmp upped their price objective on Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.53.

Protagonist Therapeutics Trading Down 1.5%

Protagonist Therapeutics stock opened at $154.94 on Thursday. The business’s 50 day simple moving average is $132.99 and its 200 day simple moving average is $109.36. Protagonist Therapeutics, Inc. has a 12 month low of $54.50 and a 12 month high of $160.81. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 150.43 and a beta of 1.78.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results 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. The business had revenue of $213.47 million during the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The firm’s quarterly revenue was up 3746.8% compared to the same quarter last year. As a group, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 65,761 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $149.11, for a total transaction of $9,805,622.71. Following the sale, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at $78,055,804.58. This represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William D. Waddill sold 9,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the transaction, the director owned 7,825 shares of the company’s stock, valued at $922,880.50. This represents a 53.49% decrease in their position. 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 a total of 127,000 shares of company stock valued at $17,818,139 in the last quarter. 5.19% of the stock is owned by corporate 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 ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.