Fred Alger Management LLC Invests $362,000 in Protagonist Therapeutics, Inc. $PTGX

Fred Alger Management LLC acquired a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,477 shares of the company’s stock, valued at approximately $362,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in Protagonist Therapeutics in the 4th quarter valued at about $48,000. GAMMA Investing LLC raised its stake in Protagonist Therapeutics by 153.3% in the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company’s stock valued at $58,000 after acquiring an additional 728 shares during the period. Smartleaf Asset Management LLC raised its stake in Protagonist Therapeutics by 141.7% in 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. Brooklyn Investment Group bought a new stake in Protagonist Therapeutics in the 1st quarter valued at about $68,000. Finally, PNC Financial Services Group Inc. raised its stake in Protagonist Therapeutics by 38.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,992 shares of the company’s stock valued at $96,000 after acquiring an additional 551 shares during the period. 98.63% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $54.78, for a total transaction of $570,533.70. Following the completion of the transaction, the chief executive officer owned 520,603 shares of the company’s stock, valued at approximately $28,518,632.34. The trade was a 1.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Waddill sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $59.25, for a total value of $237,000.00. Following the transaction, the director directly owned 9,130 shares of the company’s stock, valued at $540,952.50. The trade was a 30.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,859 shares of company stock worth $3,687,577. Company insiders own 4.90% of the company’s stock.

Protagonist Therapeutics Stock Down 1.1%

Shares of PTGX opened at $57.74 on Thursday. The business’s 50-day moving average price is $55.38 and its 200-day moving average price is $50.34. Protagonist Therapeutics, Inc. has a twelve month low of $33.31 and a twelve month high of $61.89. The stock has a market cap of $3.59 billion, a PE ratio of 82.49 and a beta of 2.22.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. The company had revenue of $5.55 million for the quarter, compared to the consensus estimate of $8.32 million. Analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Citigroup restated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Thursday, August 7th. Wall Street Zen upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 8th. JMP Securities boosted their price objective on Protagonist Therapeutics from $67.00 to $69.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $67.20.

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.