Seven Fleet Capital Management LP Has $5.57 Million Holdings in Protagonist Therapeutics, Inc. $PTGX

Seven Fleet Capital Management LP raised its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 1,035.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 45,400 shares of the company’s stock after purchasing an additional 41,400 shares during the period. Protagonist Therapeutics makes up approximately 0.9% of Seven Fleet Capital Management LP’s portfolio, making the stock its 25th biggest holding. Seven Fleet Capital Management LP’s holdings in Protagonist Therapeutics were worth $5,565,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Protagonist Therapeutics in the second quarter valued at approximately $1,263,535,000. Johnson & Johnson purchased a new stake in Protagonist Therapeutics in the 2nd quarter valued at $300,220,852,000. Jupiter Topco LLC purchased a new stake in Protagonist Therapeutics in the 2nd quarter valued at $261,039,000. Janus Henderson Group PLC lifted its stake in Protagonist Therapeutics by 140.7% during 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. Finally, Bank of America Corp DE purchased a new position in Protagonist Therapeutics during the 2nd quarter worth $162,357,000. 98.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of 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 price objective on shares of Protagonist Therapeutics in a research report on Friday, July 17th. BMO Capital Markets increased their price objective on shares of Protagonist Therapeutics from $112.00 to $178.00 and gave the company an “outperform” rating in a research note on Monday, August 17th. Citigroup lifted their target price on shares of Protagonist Therapeutics from $130.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, TD Cowen restated a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. One 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.53.

Insider Buying and Selling

In related news, Director William D. Waddill sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total value of $1,061,460.00. Following the transaction, the director owned 7,825 shares in the company, valued at approximately $922,880.50. This represents a 53.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 34,239 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $148.52, for a total value of $5,085,176.28. Following the transaction, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at approximately $77,746,952.56. This trade represents a 6.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 127,000 shares of company stock worth $17,818,139 in the last ninety days. 5.19% of the stock is currently owned by insiders.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX opened at $151.50 on Thursday. The company has a market capitalization of $9.80 billion, a P/E ratio of 147.09 and a beta of 1.78. The company’s 50-day moving average is $137.15 and its 200 day moving average is $111.81. Protagonist Therapeutics, Inc. has a fifty-two week low of $54.50 and a fifty-two week high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 EPS 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 quarterly revenue was up 3746.8% on a year-over-year basis. As a group, research analysts predict that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current year.

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 ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.