Crestline Management LP Buys New Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Crestline Management LP bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,681 shares of the company's stock, valued at approximately $489,000.

Other hedge funds have also recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in shares of Protagonist Therapeutics in the fourth quarter valued at about $38,000. Covestor Ltd lifted its position in Protagonist Therapeutics by 5,200.0% during the fourth quarter. Covestor Ltd now owns 1,643 shares of the company's stock worth $63,000 after acquiring an additional 1,612 shares during the last quarter. KBC Group NV increased its stake in shares of Protagonist Therapeutics by 54.4% during the fourth quarter. KBC Group NV now owns 2,093 shares of the company's stock worth $81,000 after purchasing an additional 737 shares during the period. New Vernon Capital Holdings II LLC acquired a new position in Protagonist Therapeutics in the 4th quarter valued at $118,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Protagonist Therapeutics by 10.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company's stock worth $121,000 after buying an additional 295 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Asif Ali sold 1,756 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total transaction of $80,776.00. Following the sale, the chief financial officer now owns 61,065 shares in the company, valued at $2,808,990. This represents a 2.80% decrease in their position. The sale 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 the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $55.74, for a total value of $1,700,850.36. Following the sale, the insider now owns 83,892 shares in the company, valued at approximately $4,676,140.08. The trade was a 26.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,532 shares of company stock valued at $3,665,786. Company insiders own 5.40% of the company's stock.

Protagonist Therapeutics Trading Up 1.3%

PTGX traded up $0.56 on Friday, reaching $44.97. The stock had a trading volume of 219,039 shares, compared to its average volume of 872,333. Protagonist Therapeutics, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $60.60. The firm has a 50-day moving average of $47.07 and a 200-day moving average of $42.65. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 16.91 and a beta of 2.65.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.31. The company had revenue of $28.32 million during the quarter, compared to analysts' expectations of $30.44 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. Sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PTGX has been the topic of a number of recent research reports. Truist Financial raised their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a research report on Monday, March 3rd. 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 research note on Tuesday, March 4th. The Goldman Sachs Group lowered their price objective on Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Finally, Wedbush restated an "outperform" rating and issued a $70.00 price target on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $65.44.

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.