Braidwell LP Makes New $776,000 Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Braidwell LP bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,109 shares of the company's stock, valued at approximately $776,000.

A number of other large investors have also recently made changes to their positions in PTGX. Bank of Montreal Can boosted its position in shares of Protagonist Therapeutics by 4.5% during the fourth quarter. Bank of Montreal Can now owns 6,250 shares of the company's stock valued at $241,000 after purchasing an additional 270 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Protagonist Therapeutics by 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company's stock worth $779,000 after acquiring an additional 278 shares during the period. Nisa Investment Advisors LLC raised its stake in Protagonist Therapeutics by 10.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company's stock valued at $121,000 after buying an additional 295 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Protagonist Therapeutics by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company's stock worth $1,112,000 after purchasing an additional 300 shares during the last quarter. Finally, KBC Group NV increased its holdings in Protagonist Therapeutics by 54.4% during the fourth quarter. KBC Group NV now owns 2,093 shares of the company's stock valued at $81,000 after buying an additional 737 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX traded down $0.88 during mid-day trading on Friday, hitting $43.04. 671,228 shares of the company's stock traded hands, compared to its average volume of 871,890. Protagonist Therapeutics, Inc. has a twelve month low of $27.00 and a twelve month high of $60.60. The company has a market capitalization of $2.67 billion, a P/E ratio of 16.18 and a beta of 2.65. The company has a fifty day moving average of $46.95 and a 200 day moving average of $42.70.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.50) by $0.31. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $28.32 million for the quarter, compared to analyst estimates of $30.44 million. On average, research analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PTGX. Truist Financial boosted their price objective on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. The Goldman Sachs Group dropped their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. HC Wainwright reiterated a "buy" rating and set a $80.00 price objective on shares of Protagonist Therapeutics in a research report on Thursday, April 10th. JMP Securities restated a "market outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. boosted their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Protagonist Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $65.44.

Insiders Place Their Bets

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of the transaction, the chief executive officer now owns 540,260 shares in the company, valued at $20,627,126.80. This represents a 0.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arturo Md Molina sold 30,514 shares of Protagonist Therapeutics stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $55.74, for a total value of $1,700,850.36. Following the completion of the sale, the insider now directly owns 83,892 shares in the company, valued at $4,676,140.08. This represents a 26.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,532 shares of company stock valued at $3,665,786. Company insiders own 5.40% of the company's stock.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.