Rubric Capital Management LP Takes Position in Protagonist Therapeutics, Inc. $PTGX

Rubric Capital Management LP bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 427,998 shares of the company’s stock, valued at approximately $45,111,000. Rubric Capital Management LP owned about 0.67% of Protagonist Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Eagle Health Investments LP boosted its stake in Protagonist Therapeutics by 213.0% during the 1st quarter. Eagle Health Investments LP now owns 179,322 shares of the company’s stock worth $18,901,000 after purchasing an additional 122,022 shares during the period. Empowered Funds LLC acquired a new position in Protagonist Therapeutics in the first quarter valued at $245,000. The Manufacturers Life Insurance Company raised its holdings in shares of Protagonist Therapeutics by 12.8% in the first quarter. The Manufacturers Life Insurance Company now owns 127,818 shares of the company’s stock valued at $13,472,000 after buying an additional 14,478 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Protagonist Therapeutics by 30.1% in the first quarter. Quantinno Capital Management LP now owns 6,437 shares of the company’s stock valued at $678,000 after buying an additional 1,489 shares during the last quarter. Finally, Orbimed Advisors LLC boosted its stake in shares of Protagonist Therapeutics by 94.0% during the first quarter. Orbimed Advisors LLC now owns 42,100 shares of the company’s stock worth $4,437,000 after buying an additional 20,400 shares during the period. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Insider Transactions at Protagonist Therapeutics

In other news, Director William D. Waddill sold 9,000 shares of the firm’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 completion of the sale, the director directly owned 7,825 shares of the company’s stock, valued at $922,880.50. This trade represents a 53.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total value of $7,509,000.00. Following the completion of the sale, the chief executive officer owned 523,478 shares in the company, valued at approximately $52,410,617.36. This trade represents a 12.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 161,130 shares of company stock valued at $16,355,220. Corporate insiders own 5.19% of the company’s stock.

Protagonist Therapeutics Stock Down 0.4%

Shares of Protagonist Therapeutics stock opened at $135.56 on Tuesday. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of -74.90 and a beta of 1.79. Protagonist Therapeutics, Inc. has a 52-week low of $50.49 and a 52-week high of $143.29. The company’s 50-day simple moving average is $117.49 and its 200-day simple moving average is $101.83.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.55. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. The firm had revenue of $56.37 million during the quarter, compared to the consensus estimate of $11.70 million. Equities research analysts anticipate that Protagonist Therapeutics, Inc. will post 3.69 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Zacks Research raised Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Truist Financial increased their price objective on Protagonist Therapeutics from $121.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. TD Cowen reiterated a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Protagonist Therapeutics in a research note on Friday, May 15th. Finally, Citigroup reissued an “outperform” rating on shares of Protagonist Therapeutics in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $123.00.

About Protagonist Therapeutics

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.