Deutsche Bank AG Boosts Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Deutsche Bank AG lifted its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 14.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 137,932 shares of the company’s stock after acquiring an additional 17,763 shares during the period. Deutsche Bank AG owned approximately 0.23% of Protagonist Therapeutics worth $5,324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PTGX. BVF Inc. IL lifted its stake in Protagonist Therapeutics by 2.7% during the fourth quarter. BVF Inc. IL now owns 1,900,015 shares of the company’s stock worth $73,341,000 after purchasing an additional 49,848 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Protagonist Therapeutics by 8.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company’s stock valued at $72,432,000 after buying an additional 142,376 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Protagonist Therapeutics by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,392,652 shares of the company’s stock worth $53,758,000 after buying an additional 83,185 shares during the last quarter. Deep Track Capital LP bought a new stake in Protagonist Therapeutics in the 4th quarter worth approximately $38,600,000. Finally, Wellington Management Group LLP boosted its stake in Protagonist Therapeutics by 3,025.4% in the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock worth $36,287,000 after buying an additional 909,998 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Protagonist Therapeutics Trading Up 0.2%

Shares of Protagonist Therapeutics stock opened at $44.49 on Monday. Protagonist Therapeutics, Inc. has a 12-month low of $27.00 and a 12-month high of $60.60. The company has a market cap of $2.76 billion, a P/E ratio of 16.73 and a beta of 2.65. The company’s fifty day simple moving average is $46.77 and its two-hundred day simple moving average is $42.57.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.31. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The company had revenue of $28.32 million for the quarter, compared to analysts’ expectations of $30.44 million. Analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JMP Securities reissued a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. BMO Capital Markets lifted their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a research report on Monday, March 3rd. Wedbush reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Finally, Truist Financial boosted their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $65.44.

Insider Transactions at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the transaction, the chief executive officer now directly owns 540,260 shares in the company, valued at $20,627,126.80. This trade represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Arturo Md Molina sold 30,514 shares of Protagonist Therapeutics stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the transaction, the insider now directly owns 83,892 shares of the company’s stock, valued at approximately $4,676,140.08. This trade represents a 26.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,532 shares of company stock valued at $3,665,786. Corporate insiders own 4.90% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.