E Fund Management Co. Ltd. Acquires Shares of 3,891 Protagonist Therapeutics, Inc. $PTGX

E Fund Management Co. Ltd. bought a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,891 shares of the company’s stock, valued at approximately $477,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Johnson & Johnson bought a new stake in Protagonist Therapeutics during the 2nd quarter worth about $300,220,852,000. NEXTBio Capital Management LP bought a new position in shares of Protagonist Therapeutics in the 4th quarter valued at about $20,055,000. Jennison Associates LLC bought a new position in shares of Protagonist Therapeutics in the 4th quarter valued at about $28,924,000. Clearbridge Investments LLC acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $42,783,000. Finally, Stempoint Capital LP grew its position in shares of Protagonist Therapeutics by 22.1% during the 1st quarter. Stempoint Capital LP now owns 72,577 shares of the company’s stock worth $7,650,000 after buying an additional 13,147 shares during the period. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $150.69 on Friday. The stock has a market cap of $9.75 billion, a PE ratio of 146.30 and a beta of 1.78. The stock has a 50-day moving average of $133.81 and a 200-day moving average of $109.85. Protagonist Therapeutics, Inc. has a one year low of $54.50 and a one year high of $160.81.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PTGX shares. Barclays boosted their price target on shares of Protagonist Therapeutics from $151.00 to $153.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Wall Street Zen cut shares of Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. BMO Capital Markets lifted their target price on shares of Protagonist Therapeutics from $112.00 to $178.00 and gave the stock an “outperform” rating in a report on Monday. UBS Group upgraded shares of Protagonist Therapeutics to a “buy” rating in a research report on Monday, August 10th. Finally, The Goldman Sachs Group raised Protagonist Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $186.00 in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.53.

Insider Activity at Protagonist Therapeutics

In other news, Director William D. Waddill sold 9,000 shares of Protagonist Therapeutics stock in a transaction on 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 34,239 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $148.52, for a total transaction of $5,085,176.28. Following the completion of the transaction, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at $77,746,952.56. This trade represents a 6.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 127,000 shares of company stock valued at $17,818,139 in the last ninety days. Insiders own 5.19% of the company’s stock.

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.