Protagonist Therapeutics, Inc. $PTGX Holdings Decreased by Pictet Asset Management Holding SA

by · The Cerbat Gem

Pictet Asset Management Holding SA lowered its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Free Report) by 16.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 472,123 shares of the company’s stock after selling 95,867 shares during the period. Pictet Asset Management Holding SA’s holdings in Protagonist Therapeutics were worth $66,517,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TFB Advisors LLC grew its holdings in Protagonist Therapeutics by 3.0% during the 3rd quarter. TFB Advisors LLC now owns 5,394 shares of the company’s stock worth $760,000 after acquiring an additional 159 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Protagonist Therapeutics by 7.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,760 shares of the company’s stock valued at $291,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Protagonist Therapeutics by 7.2% during the second quarter. GAMMA Investing LLC now owns 3,109 shares of the company’s stock worth $381,000 after buying an additional 208 shares during the period. Choreo LLC raised its stake in shares of Protagonist Therapeutics by 9.3% in the third quarter. Choreo LLC now owns 2,533 shares of the company’s stock worth $357,000 after purchasing an additional 216 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of Protagonist Therapeutics in the second quarter worth about $30,000. 98.63% of the stock is currently owned by institutional investors.

Insider Transactions at Protagonist Therapeutics

In other news, CFO Asif Ali sold 58,629 shares of the company’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $141.78, for a total value of $8,312,419.62. Following the completion of the transaction, the chief financial officer owned 59,003 shares in the company, valued at approximately $8,365,445.34. This represents a 49.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 7,278 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $144.10, for a total value of $1,048,759.80. Following the completion of the sale, the chief executive officer owned 522,968 shares of the company’s stock, valued at approximately $75,359,688.80. This represents a 1.37% 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 183,629 shares of company stock worth $26,552,987 over the last quarter. Insiders own 5.19% of the company’s stock.

Protagonist Therapeutics Price Performance

NASDAQ PTGX opened at $135.90 on Tuesday. The stock’s 50 day simple moving average is $141.35 and its 200-day simple moving average is $118.09. The company has a market cap of $8.79 billion, a PE ratio of 139.19 and a beta of 1.21. Protagonist Therapeutics, Inc. has a 1-year low of $77.00 and a 1-year high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.57. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%. The business had revenue of $274.41 million during the quarter, compared to the consensus estimate of $238.49 million. On average, equities research analysts anticipate that Protagonist Therapeutics, Inc. will post 4.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PTGX shares. TD Cowen lifted their target price on Protagonist Therapeutics from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. Barclays increased their price target on shares of Protagonist Therapeutics from $153.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. Wedbush restated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Monday. UBS Group reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a report on Tuesday, November 3rd. Finally, Zacks Research upgraded shares of Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $166.67.

Check Out Our Latest Research Report on PTGX

About Protagonist Therapeutics

(Free Report)

Protagonist Therapeutics is a clinical-stage biopharmaceutical company that discovers and develops peptide-based medicines, primarily for inflammatory and blood disorders. Its research approach uses engineered peptides designed to act on specific biological targets.

The company’s programs include rusfertide, a hepcidin mimetic being developed for polycythemia vera, and icotrokinra, an oral interleukin-23 receptor antagonist being developed for immune-mediated diseases. Protagonist has entered into licensing and development collaborations for these programs with Takeda and Johnson & Johnson, respectively; they are investigational medicines, not approved treatments.

Founded in 2006 and based in Newark, California, Protagonist is led by co-founder and Chief Executive Officer Dinesh V.

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