PSP Research LLC Invests $535,000 in Protagonist Therapeutics, Inc. $PTGX

PSP Research LLC bought a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the 4th quarter, Holdings Channel reports. The firm bought 6,121 shares of the company’s stock, valued at approximately $535,000. Protagonist Therapeutics accounts for approximately 0.5% of PSP Research LLC’s holdings, making the stock its 29th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Farallon Capital Management LLC lifted its position in Protagonist Therapeutics by 0.4% during the third quarter. Farallon Capital Management LLC now owns 6,196,006 shares of the company’s stock valued at $411,601,000 after purchasing an additional 24,000 shares in the last quarter. Vanguard Group Inc. lifted its position in Protagonist Therapeutics by 27.2% during the fourth quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company’s stock valued at $472,832,000 after purchasing an additional 1,156,461 shares in the last quarter. State Street Corp lifted its position in Protagonist Therapeutics by 18.5% during the second quarter. State Street Corp now owns 3,207,543 shares of the company’s stock valued at $177,281,000 after purchasing an additional 500,924 shares in the last quarter. UBS Group AG lifted its position in Protagonist Therapeutics by 46.1% during the fourth quarter. UBS Group AG now owns 2,770,021 shares of the company’s stock valued at $241,934,000 after purchasing an additional 874,013 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Protagonist Therapeutics by 83.9% during the third quarter. Wellington Management Group LLP now owns 1,908,446 shares of the company’s stock valued at $126,778,000 after purchasing an additional 870,708 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the sale, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at approximately $52,410,617.36. The trade was a 12.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bryan Giraudo sold 6,000 shares of Protagonist Therapeutics stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $100.00, for a total value of $600,000.00. Following the completion of the sale, the director directly owned 31,825 shares in the company, valued at $3,182,500. This trade represents a 15.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 254,345 shares of company stock valued at $25,810,506. 5.19% of the stock is owned by insiders.

Protagonist Therapeutics Stock Down 2.4%

NASDAQ:PTGX opened at $98.37 on Wednesday. The business’s 50-day simple moving average is $101.04 and its two-hundred day simple moving average is $90.89. The stock has a market cap of $6.33 billion, a PE ratio of -54.35 and a beta of 1.89. Protagonist Therapeutics, Inc. has a 52 week low of $44.72 and a 52 week high of $107.84.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.55. The business had revenue of $56.37 million for the quarter, compared to analysts’ expectations of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. Sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 2.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PTGX. Johnson Rice reiterated a “buy” rating on shares of Protagonist Therapeutics in a research report on Wednesday, March 18th. Leerink Partners lifted their target price on Protagonist Therapeutics from $107.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, March 19th. TD Cowen raised their price target on Protagonist Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Wedbush raised their price target on Protagonist Therapeutics from $112.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on Protagonist Therapeutics from $95.00 to $106.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.69.

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.