Clearbridge Investments LLC bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 489,842 shares of the company’s stock, valued at approximately $42,783,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC acquired a new stake in Protagonist Therapeutics in the 4th quarter worth approximately $28,924,000. Farallon Capital Management LLC lifted its holdings in Protagonist Therapeutics by 0.4% in the 3rd quarter. Farallon Capital Management LLC now owns 6,196,006 shares of the company’s stock worth $411,601,000 after purchasing an additional 24,000 shares during the last quarter. Mangrove Partners IM LLC lifted its holdings in Protagonist Therapeutics by 21.0% in the 3rd quarter. Mangrove Partners IM LLC now owns 478,413 shares of the company’s stock worth $31,781,000 after purchasing an additional 83,030 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Protagonist Therapeutics in the 3rd quarter worth approximately $391,000. Finally, HighVista Strategies LLC lifted its holdings in Protagonist Therapeutics by 110.3% in the 3rd quarter. HighVista Strategies LLC now owns 121,682 shares of the company’s stock worth $8,083,000 after purchasing an additional 63,831 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. TD Cowen boosted their target price on Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Wolfe Research began coverage on Protagonist Therapeutics in a report on Thursday, May 21st. They set an “outperform” rating and a $135.00 price target for the company. Johnson Rice reiterated a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. Wall Street Zen upgraded Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $110.00 price target on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.21.
Protagonist Therapeutics Trading Up 8.0%
PTGX opened at $105.87 on Wednesday. The stock has a market cap of $6.81 billion, a PE ratio of -58.49 and a beta of 1.85. Protagonist Therapeutics, Inc. has a 1 year low of $49.38 and a 1 year high of $107.84. The stock’s 50 day simple moving average is $101.38 and its 200-day simple moving average is $92.78.
Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 earnings per share (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%. Equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.93 earnings per share for the current fiscal year.
Insider Buying and Selling at Protagonist Therapeutics
In other news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the sale, the chief executive officer directly owned 523,478 shares in the company, valued at approximately $52,410,617.36. The trade was a 12.53% 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 Harold E. Selick sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $105.00, for a total value of $2,520,000.00. Following the sale, the director owned 60,845 shares in the company, valued at approximately $6,388,725. This represents a 28.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 263,345 shares of company stock valued at $26,707,266 in the last quarter. 5.19% of the stock is currently owned by corporate 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.
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