Boxer Capital Management LLC Purchases 50,000 Shares of Protagonist Therapeutics, Inc. $PTGX

Boxer Capital Management LLC raised its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 83.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 110,000 shares of the company’s stock after purchasing an additional 50,000 shares during the period. Protagonist Therapeutics makes up about 2.3% of Boxer Capital Management LLC’s investment portfolio, making the stock its 12th biggest holding. Boxer Capital Management LLC’s holdings in Protagonist Therapeutics were worth $7,307,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Salomon & Ludwin LLC bought a new stake in shares of Protagonist Therapeutics during the third quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted its position in Protagonist Therapeutics by 138.9% in the third 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 period. Abich Financial Wealth Management LLC acquired a new stake in Protagonist Therapeutics during the third quarter worth $62,000. Osaic Holdings Inc. boosted its stake in Protagonist Therapeutics by 79.5% during the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after buying an additional 525 shares in the last quarter. Finally, Quadrant Capital Group LLC bought a new stake in Protagonist Therapeutics in the 3rd quarter valued at $90,000. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX opened at $92.36 on Friday. The company’s fifty day moving average is $85.52 and its 200-day moving average is $79.66. Protagonist Therapeutics, Inc. has a 52 week low of $39.60 and a 52 week high of $98.32. The company has a market capitalization of $5.89 billion, a PE ratio of -45.05 and a beta of 2.23.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Wednesday, February 25th. The company reported ($0.69) earnings per share (EPS) 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 firm had revenue of $7.44 million for the quarter, compared to analyst estimates of $14.92 million. On average, analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Protagonist Therapeutics from $95.00 to $118.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Weiss Ratings lowered shares of Protagonist Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, February 17th. Citizens Jmp upped their target price on shares of Protagonist Therapeutics from $102.00 to $112.00 and gave the company a “market outperform” rating in a research note on Thursday, February 26th. HC Wainwright raised their price target on shares of Protagonist Therapeutics from $80.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Truist Financial lifted their price objective on Protagonist Therapeutics from $88.00 to $110.00 and gave the company a “buy” rating in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $101.08.

Insider Activity

In other news, Director William D. Waddill sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $83.68, for a total transaction of $1,673,600.00. Following the completion of the sale, the director owned 7,825 shares of the company’s stock, valued at approximately $654,796. This trade represents a 71.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Dinesh V. Ph D. Patel sold 4,068 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $83.19, for a total transaction of $338,416.92. Following the completion of the transaction, the chief executive officer owned 574,505 shares of the company’s stock, valued at $47,793,070.95. This trade represents a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 203,167 shares of company stock valued at $16,889,199. Corporate insiders own 4.90% of the company’s stock.

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.