SEB Asset Management AB Purchases New Shares in Protagonist Therapeutics, Inc. $PTGX

SEB Asset Management AB acquired a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 232,416 shares of the company’s stock, valued at approximately $24,497,000. SEB Asset Management AB owned 0.36% of Protagonist Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Protagonist Therapeutics by 27.2% in the fourth quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company’s stock valued at $472,832,000 after buying an additional 1,156,461 shares during the period. State Street Corp increased its stake in Protagonist Therapeutics by 18.5% during the 2nd quarter. State Street Corp now owns 3,207,543 shares of the company’s stock worth $177,281,000 after acquiring an additional 500,924 shares during the period. Wellington Management Group LLP increased its stake in Protagonist Therapeutics by 66.2% during the 4th quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company’s stock worth $276,992,000 after acquiring an additional 1,262,977 shares during the period. UBS Group AG raised its holdings in Protagonist Therapeutics by 46.1% in the 4th quarter. UBS Group AG now owns 2,770,021 shares of the company’s stock valued at $241,934,000 after acquiring an additional 874,013 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Protagonist Therapeutics by 140.7% in the 4th quarter. Janus Henderson Group PLC now owns 2,649,981 shares of the company’s stock valued at $231,355,000 after acquiring an additional 1,549,160 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Price Performance

Shares of NASDAQ PTGX opened at $140.91 on Monday. The company has a 50 day simple moving average of $113.50 and a 200 day simple moving average of $99.72. Protagonist Therapeutics, Inc. has a 1 year low of $50.49 and a 1 year high of $141.10. The firm has a market cap of $9.06 billion, a PE ratio of -77.85 and a beta of 1.79.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. The company had revenue of $56.37 million for the quarter, compared to analysts’ expectations of $11.70 million. As a group, research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PTGX has been the topic of a number of recent analyst reports. Wall Street Zen cut Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Zacks Research raised shares of Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Citizens Jmp increased their price objective on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 6th. Truist Financial increased their price objective on shares of Protagonist Therapeutics from $121.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Protagonist Therapeutics in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $123.00.

Insider Buying and Selling

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the sale, the chief executive officer owned 523,478 shares in the company, valued at approximately $52,410,617.36. The trade was a 12.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bryan Giraudo sold 36,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $100.14, for a total value of $3,605,040.00. Following the completion of the sale, the director directly owned 27,825 shares of the company’s stock, valued at approximately $2,786,395.50. The trade was a 56.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 161,130 shares of company stock valued at $16,355,220 in the last three months. Insiders own 5.19% of the company’s stock.

Protagonist Therapeutics Company 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.