Protagonist Therapeutics, Inc. $PTGX Shares Acquired by Mangrove Partners IM LLC

Mangrove Partners IM LLC lifted its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 21.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 478,413 shares of the company’s stock after acquiring an additional 83,030 shares during the period. Protagonist Therapeutics makes up approximately 2.6% of Mangrove Partners IM LLC’s investment portfolio, making the stock its 16th largest holding. Mangrove Partners IM LLC owned 0.77% of Protagonist Therapeutics worth $31,781,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PTGX. Salomon & Ludwin LLC purchased a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its position in Protagonist Therapeutics by 138.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $36,000 after purchasing an additional 314 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Protagonist Therapeutics during the 3rd quarter worth approximately $62,000. Osaic Holdings Inc. increased its stake in Protagonist Therapeutics by 79.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock valued at $65,000 after purchasing an additional 525 shares in the last quarter. Finally, Quadrant Capital Group LLC acquired a new position in Protagonist Therapeutics during the 3rd quarter valued at approximately $90,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Trading Down 3.2%

Shares of NASDAQ PTGX opened at $92.36 on Friday. The company has a 50 day simple moving average of $85.52 and a two-hundred day simple moving average of $79.50. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of -45.05 and a beta of 2.23. Protagonist Therapeutics, Inc. has a 12 month low of $39.60 and a 12 month high of $98.32.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.16). Protagonist Therapeutics had a negative return on equity of 19.89% and a negative net margin of 282.83%.The business had revenue of $7.44 million during the quarter, compared to analyst estimates of $14.92 million. Analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

PTGX has been the subject of several research reports. Citigroup lifted their price objective on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Barclays upped their target price on Protagonist Therapeutics from $108.00 to $113.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Jefferies Financial Group raised their target price on Protagonist Therapeutics from $95.00 to $118.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. TD Cowen lifted their price target on Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Citizens Jmp boosted their price target on Protagonist Therapeutics from $102.00 to $112.00 and gave the company a “market outperform” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.08.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director Lewis T. Williams sold 18,000 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $82.42, for a total transaction of $1,483,560.00. Following the sale, the director directly owned 7,825 shares of the company’s stock, valued at approximately $644,936.50. This trade represents a 69.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dinesh V. Ph D. Patel sold 4,068 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $83.19, for a total value of $338,416.92. Following the transaction, the chief executive officer owned 574,505 shares of the company’s stock, valued at $47,793,070.95. The trade was a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 203,167 shares of company stock valued at $16,889,199 in the last 90 days. 4.90% of the stock is currently owned by insiders.

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.