Bank of America Corp DE raised its holdings in Protagonist Therapeutics Inc (NASDAQ:PTGX) by 2,262.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 21,217 shares of the company’s stock after acquiring an additional 20,319 shares during the period. Bank of America Corp DE’s holdings in Protagonist Therapeutics were worth $143,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of PTGX. FMR LLC grew its stake in Protagonist Therapeutics by 0.5% during the second quarter. FMR LLC now owns 3,180,583 shares of the company’s stock valued at $21,374,000 after acquiring an additional 15,017 shares in the last quarter. Renaissance Technologies LLC grew its stake in Protagonist Therapeutics by 816.3% during the second quarter. Renaissance Technologies LLC now owns 478,300 shares of the company’s stock valued at $3,214,000 after acquiring an additional 426,100 shares in the last quarter. Alambic Investment Management L.P. grew its stake in Protagonist Therapeutics by 520.8% during the second quarter. Alambic Investment Management L.P. now owns 234,053 shares of the company’s stock valued at $1,573,000 after acquiring an additional 196,353 shares in the last quarter. Acadian Asset Management LLC grew its stake in Protagonist Therapeutics by 303.3% during the second quarter. Acadian Asset Management LLC now owns 233,830 shares of the company’s stock valued at $1,572,000 after acquiring an additional 175,849 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in Protagonist Therapeutics during the second quarter valued at approximately $1,531,000. Hedge funds and other institutional investors own 60.99% of the company’s stock.
PTGX has been the subject of several recent analyst reports. Leerink Swann boosted their price objective on shares of Protagonist Therapeutics from $13.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, August 6th. Zacks Investment Research cut shares of Protagonist Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $22.00.
Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.01). Protagonist Therapeutics had a negative net margin of 70.54% and a negative return on equity of 24.08%. The company had revenue of $6.12 million for the quarter, compared to the consensus estimate of $6.35 million. On average, equities research analysts anticipate that Protagonist Therapeutics Inc will post -1.58 EPS for the current year.
Protagonist Therapeutics Profile
Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing peptide-based drugs to address various unmet medical needs. The company's lead product candidates include PTG-100, an oral alpha-4-beta-7 integrin- antagonist that is in Phase II b clinical trial for the treatment of ulcerative colitis, as well as for treating chronic pouchitis, a gastrointestinal (GI) condition that occurs in post-surgical inflammatory bowel disease (IBD) patients; PTG-200, an oral interleukin-23 receptor antagonist, which is in Phase I clinical trial for the treatment of IBD; and PTG-300, an injectable hepcidin mimetic, which has completed Phase I study for use in the treatment of beta-thalassemia, as well as for treating other diseases, such as hereditary hemochromatosis, polycythemia vera, siderophilic infections, and liver fibrosis.
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