Hsbc Holdings PLC Acquires Shares of 25,952 Protagonist Therapeutics, Inc. $PTGX

Hsbc Holdings PLC bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the second quarter, HoldingsChannel reports. The fund bought 25,952 shares of the company’s stock, valued at approximately $3,198,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Johnson & Johnson bought a new stake in Protagonist Therapeutics in the second quarter worth approximately $300,220,852. NEXTBio Capital Management LP acquired a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at $20,055,000. Jennison Associates LLC acquired a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at $28,924,000. Deutsche Bank AG bought a new stake in Protagonist Therapeutics in the second quarter worth $17,387,000. Finally, Clearbridge Investments LLC bought a new stake in Protagonist Therapeutics in the fourth quarter worth $42,783,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX opened at $144.33 on Friday. The company has a market cap of $9.34 billion, a P/E ratio of 140.13 and a beta of 1.78. The stock’s 50-day moving average is $138.51 and its 200-day moving average is $112.49. Protagonist Therapeutics, Inc. has a 52-week low of $54.50 and a 52-week high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX) last posted 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. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The business had revenue of $213.47 million during the quarter, compared to analysts’ expectations of $212.03 million. The business’s quarterly revenue was up 3746.8% compared to the same quarter last year. As a group, equities analysts predict that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 65,761 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $149.11, for a total value of $9,805,622.71. Following the sale, the chief executive officer owned 523,478 shares in the company, valued at approximately $78,055,804.58. This trade represents a 11.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William D. Waddill sold 9,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the director owned 7,825 shares in the company, valued at approximately $922,880.50. The trade was a 53.49% 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. Over the last ninety days, insiders sold 118,000 shares of company stock worth $16,921,379. Company insiders own 5.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PTGX shares. Zacks Research downgraded Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Citizens Jmp raised 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. Wolfe Research initiated coverage on Protagonist Therapeutics in a report on Thursday, May 21st. They issued an “outperform” rating and a $135.00 target price for the company. Johnson Rice set a $165.00 target price on Protagonist Therapeutics in a research report on Friday, July 17th. Finally, Truist Financial increased their price target on Protagonist Therapeutics from $145.00 to $170.00 and gave the company a “buy” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.53.

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.