Seven Fleet Capital Management LP Sells 4,000 Shares of Protagonist Therapeutics, Inc. $PTGX

Seven Fleet Capital Management LP trimmed its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 50.0% in the 1st quarter, Holdings Channel reports. The firm owned 4,000 shares of the company’s stock after selling 4,000 shares during the period. Seven Fleet Capital Management LP’s holdings in Protagonist Therapeutics were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PTGX. Vanguard Group Inc. boosted its holdings in Protagonist Therapeutics by 27.2% in the fourth quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company’s stock worth $472,832,000 after purchasing an additional 1,156,461 shares during the last quarter. State Street Corp grew its position in Protagonist Therapeutics by 18.5% in the 2nd quarter. State Street Corp now owns 3,207,543 shares of the company’s stock worth $177,281,000 after purchasing an additional 500,924 shares during the period. Wellington Management Group LLP raised its stake in Protagonist Therapeutics by 66.2% during the 4th quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company’s stock valued at $276,992,000 after buying an additional 1,262,977 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Protagonist Therapeutics by 9.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,891,527 shares of the company’s stock valued at $304,866,000 after buying an additional 241,546 shares during the period. Finally, UBS Group AG lifted its holdings in shares of Protagonist Therapeutics by 46.1% during the 4th quarter. UBS Group AG now owns 2,770,021 shares of the company’s stock valued at $241,934,000 after buying an additional 874,013 shares during the period. Institutional investors own 98.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Protagonist Therapeutics in a research note on Friday, May 15th. Wolfe Research assumed coverage on Protagonist Therapeutics in a report on Thursday, May 21st. They issued an “outperform” rating and a $135.00 target price on the stock. Citigroup reissued an “outperform” rating on shares of Protagonist Therapeutics in a research report on Friday, July 17th. Wall Street Zen upgraded Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Finally, Truist Financial upped their price target on shares of Protagonist Therapeutics from $121.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director Bryan Giraudo sold 36,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $100.14, for a total transaction of $3,605,040.00. Following the completion of the sale, the director owned 27,825 shares of the company’s stock, valued at approximately $2,786,395.50. The trade was a 56.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William D. Waddill sold 9,000 shares of the company’s stock in a transaction dated 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 owned 7,825 shares of the company’s stock, valued at approximately $922,880.50. The trade was a 53.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 161,130 shares of company stock worth $16,355,220. Corporate insiders own 5.19% of the company’s stock.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $136.64 on Friday. The company’s fifty day simple moving average is $120.38 and its 200-day simple moving average is $103.23. The stock has a market capitalization of $8.79 billion, a PE ratio of -75.49 and a beta of 1.79. Protagonist Therapeutics, Inc. has a 1-year low of $50.49 and a 1-year high of $143.29.

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

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.