Skandinaviska Enskilda Banken AB publ Lowers Position in Protagonist Therapeutics, Inc. $PTGX

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 66.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,750 shares of the company’s stock after selling 166,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.13% of Protagonist Therapeutics worth $4,574,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PTGX. FNY Investment Advisers LLC purchased a new stake in Protagonist Therapeutics during the second quarter worth $27,000. Bessemer Group Inc. raised its position in shares of Protagonist Therapeutics by 171.0% in the second quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock worth $28,000 after acquiring an additional 318 shares during the period. CWM LLC boosted its stake in shares of Protagonist Therapeutics by 201.5% during the 2nd quarter. CWM LLC now owns 609 shares of the company’s stock worth $34,000 after acquiring an additional 407 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Protagonist Therapeutics by 141.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company’s stock valued at $59,000 after acquiring an additional 710 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of Protagonist Therapeutics during the 1st quarter valued at about $68,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Stock Performance

Shares of PTGX opened at $89.98 on Monday. The stock has a 50 day moving average price of $76.65 and a 200 day moving average price of $62.06. Protagonist Therapeutics, Inc. has a one year low of $33.70 and a one year high of $93.25. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 145.12 and a beta of 2.19.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Thursday, November 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.03). Protagonist Therapeutics had a return on equity of 6.86% and a net margin of 21.94%.The business had revenue of $4.71 million for the quarter, compared to analyst estimates of $5.41 million. On average, analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director William D. Waddill sold 12,000 shares of the business’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $81.62, for a total transaction of $979,440.00. Following the transaction, the director directly owned 5,130 shares in the company, valued at approximately $418,710.60. The trade was a 70.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 4.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PTGX shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a report on Monday, October 13th. Wedbush upped their target price on Protagonist Therapeutics from $70.00 to $86.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Citizens Jmp increased their target price on Protagonist Therapeutics from $69.00 to $102.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. Leerink Partnrs raised shares of Protagonist Therapeutics to a “strong-buy” rating in a report on Friday, September 12th. Finally, Barclays increased their price objective on shares of Protagonist Therapeutics from $72.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, eleven 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.23.

About Protagonist Therapeutics

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.