Orbimed Advisors LLC lifted its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Free Report) by 94.0% in the 1st quarter, Holdings Channel reports. The fund owned 42,100 shares of the company’s stock after buying an additional 20,400 shares during the period. Orbimed Advisors LLC’s holdings in Protagonist Therapeutics were worth $4,437,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Janus Henderson Group PLC grew its position in Protagonist Therapeutics by 140.7% in the 4th quarter. Janus Henderson Group PLC now owns 2,649,981 shares of the company’s stock worth $231,355,000 after purchasing an additional 1,549,160 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Protagonist Therapeutics by 66.2% during the 4th quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company’s stock worth $276,992,000 after buying an additional 1,262,977 shares in the last quarter. Vanguard Group Inc. lifted its position 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 period. Marshall Wace LLP acquired a new stake in shares of Protagonist Therapeutics in the third quarter valued at $72,114,000. Finally, Commodore Capital LP acquired a new stake in Protagonist Therapeutics in the 2nd quarter valued at about $59,415,000. Institutional investors and hedge funds own 98.63% of the company’s stock.
Analysts Set New Price Targets
PTGX has been the subject of a number of recent research reports. Truist Financial increased their price objective on Protagonist Therapeutics from $121.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. Wedbush boosted their target price on Protagonist Therapeutics from $112.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Johnson Rice set a $165.00 target price on shares of Protagonist Therapeutics in a research note on Friday, July 17th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $110.00 price target on shares of Protagonist Therapeutics in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.00.
Protagonist Therapeutics Price Performance
NASDAQ PTGX opened at $136.11 on Monday. Protagonist Therapeutics, Inc. has a 52-week low of $50.49 and a 52-week high of $143.29. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of -75.20 and a beta of 1.79. The company’s fifty day moving average is $116.79 and its two-hundred day moving average is $101.45.
Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The firm had revenue of $56.37 million during the quarter, compared to analysts’ expectations of $11.70 million. As a group, sell-side analysts expect that Protagonist Therapeutics, Inc. will post 3.69 earnings per share for the current fiscal year.
Insider Activity at Protagonist Therapeutics
In other news, Director Bryan Giraudo sold 36,000 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $100.14, for a total value of $3,605,040.00. Following the completion of the transaction, the director owned 27,825 shares in the company, valued at approximately $2,786,395.50. This represents a 56.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William D. Waddill sold 9,000 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the completion of the transaction, the director owned 7,825 shares of the company’s stock, valued at approximately $922,880.50. This represents 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 ninety days, insiders sold 161,130 shares of company stock worth $16,355,220. 5.19% of the stock is 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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