PSP Research LLC Purchases Shares of 6,121 Protagonist Therapeutics, Inc. $PTGX

PSP Research LLC purchased a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,121 shares of the company’s stock, valued at approximately $535,000. Protagonist Therapeutics comprises approximately 0.5% of PSP Research LLC’s investment portfolio, making the stock its 29th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of PTGX. Farallon Capital Management LLC raised its position in shares of Protagonist Therapeutics by 0.4% in the 3rd quarter. Farallon Capital Management LLC now owns 6,196,006 shares of the company’s stock worth $411,601,000 after acquiring an additional 24,000 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Protagonist Therapeutics in the 4th quarter worth approximately $28,924,000. Mangrove Partners IM LLC raised its position in shares of Protagonist Therapeutics by 21.0% in the 3rd quarter. Mangrove Partners IM LLC now owns 478,413 shares of the company’s stock worth $31,781,000 after acquiring an additional 83,030 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Protagonist Therapeutics by 123.1% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 90,317 shares of the company’s stock worth $6,000,000 after acquiring an additional 49,833 shares in the last quarter. Finally, HighVista Strategies LLC raised its position in shares of Protagonist Therapeutics by 110.3% in the 3rd quarter. HighVista Strategies LLC now owns 121,682 shares of the company’s stock worth $8,083,000 after acquiring an additional 63,831 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Down 2.4%

Protagonist Therapeutics stock opened at $98.37 on Wednesday. The stock’s 50 day moving average is $101.04 and its 200 day moving average is $90.89. Protagonist Therapeutics, Inc. has a twelve month low of $44.72 and a twelve month high of $107.84. The company has a market capitalization of $6.33 billion, a P/E ratio of -54.35 and a beta of 1.89.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The business had revenue of $56.37 million for the quarter, compared to the consensus estimate of $11.70 million. As a group, equities analysts expect that Protagonist Therapeutics, Inc. will post 2.46 EPS for the current year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 1,750 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $105.47, for a total transaction of $184,572.50. Following the sale, the chief financial officer directly owned 59,003 shares in the company, valued at approximately $6,223,046.41. This trade represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Bryan Giraudo sold 6,000 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $100.00, for a total value of $600,000.00. Following the sale, the director owned 31,825 shares in the company, valued at approximately $3,182,500. This represents a 15.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 254,345 shares of company stock worth $25,810,506. Insiders own 5.19% of the company’s stock.

Wall Street Analysts Forecast Growth

PTGX has been the subject of several research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Protagonist Therapeutics in a research report on Friday. JPMorgan Chase & Co. upped their price target on Protagonist Therapeutics from $95.00 to $106.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Johnson Rice restated a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, March 18th. Jefferies Financial Group restated a “buy” rating and issued a $121.00 price target on shares of Protagonist Therapeutics in a research note on Wednesday, March 18th. Finally, Barclays upped their price target on Protagonist Therapeutics from $113.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.69.

Protagonist Therapeutics Company 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.