Eagle Health Investments LP Invests $30.44 Million in Protagonist Therapeutics, Inc. $PTGX

Eagle Health Investments LP bought a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 248,322 shares of the company’s stock, valued at approximately $30,439,000. Protagonist Therapeutics accounts for about 5.0% of Eagle Health Investments LP’s portfolio, making the stock its 8th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of PTGX. BlackRock Inc. acquired a new position in Protagonist Therapeutics in the 2nd quarter worth about $1,263,535,000. Johnson & Johnson acquired a new stake in Protagonist Therapeutics in the second quarter valued at approximately $300,220,852,000. Janus Henderson Group PLC grew its holdings in Protagonist Therapeutics by 140.7% in the fourth quarter. Janus Henderson Group PLC now owns 2,649,981 shares of the company’s stock valued at $231,355,000 after purchasing an additional 1,549,160 shares during the period. Wellington Management Group LLP increased its position in shares of Protagonist Therapeutics by 66.2% in the fourth quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company’s stock valued at $276,992,000 after buying an additional 1,262,977 shares in the last quarter. Finally, Vanguard Group Inc. increased its position 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 in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $154.94 on Thursday. The company has a market capitalization of $10.03 billion, a PE ratio of 150.43 and a beta of 1.78. The firm’s 50-day moving average is $132.99 and its two-hundred day moving average is $109.36. Protagonist Therapeutics, Inc. has a 12 month low of $54.50 and a 12 month high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.02. The firm had revenue of $213.47 million for the quarter, compared to analysts’ expectations of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.Protagonist Therapeutics’s quarterly revenue was up 3746.8% compared to the same quarter last year. Sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Citigroup increased their target price on Protagonist Therapeutics from $130.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Wedbush upped their price objective on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, July 1st. Finally, Truist Financial lifted their target price on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.53.

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 65,761 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $149.11, for a total transaction of $9,805,622.71. Following the completion of the transaction, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at approximately $78,055,804.58. This represents a 11.16% decrease in their position. The sale was disclosed in a 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 business’s stock in a transaction 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 completion of the transaction, the director directly owned 7,825 shares of the company’s stock, valued at approximately $922,880.50. This trade represents a 53.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 127,000 shares of company stock valued at $17,818,139 in the last quarter. Company insiders own 5.19% of the company’s stock.

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.