Deep Track Capital LP Purchases New Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Deep Track Capital LP purchased a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,000,000 shares of the company's stock, valued at approximately $38,600,000. Protagonist Therapeutics makes up 1.4% of Deep Track Capital LP's investment portfolio, making the stock its 24th biggest position. Deep Track Capital LP owned approximately 1.68% of Protagonist Therapeutics as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC grew its position in Protagonist Therapeutics by 223.6% in the third quarter. Barclays PLC now owns 126,995 shares of the company's stock worth $5,714,000 after acquiring an additional 87,755 shares in the last quarter. Franklin Resources Inc. grew its position in Protagonist Therapeutics by 127.2% in the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company's stock worth $3,782,000 after purchasing an additional 45,674 shares during the last quarter. Principal Financial Group Inc. increased its stake in Protagonist Therapeutics by 3,099.4% during the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company's stock valued at $14,437,000 after acquiring an additional 310,804 shares during the period. FNY Investment Advisers LLC bought a new position in Protagonist Therapeutics in the fourth quarter worth $38,000. Finally, Assenagon Asset Management S.A. bought a new stake in Protagonist Therapeutics in the fourth quarter valued at about $2,016,000. Institutional investors and hedge funds own 98.63% of the company's stock.

Insider Buying and Selling

In other news, insider Arturo Md Molina sold 30,514 shares of the firm's 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 transaction, the insider now owns 83,892 shares in the company, valued at $4,676,140.08. This trade represents a 26.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the transaction, the chief executive officer now directly owns 540,260 shares in the company, valued at $20,627,126.80. This represents a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,532 shares of company stock valued at $3,665,786 over the last quarter. Insiders own 5.40% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on PTGX. HC Wainwright restated a "buy" rating and issued a $80.00 price target on shares of Protagonist Therapeutics in a research report on Thursday, April 10th. JMP Securities reissued a "market outperform" rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Truist Financial lifted their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Wedbush reissued an "outperform" rating and issued a $70.00 price objective on shares of Protagonist Therapeutics in a report on Friday, March 28th. Finally, BTIG Research set a $73.00 price objective on shares of Protagonist Therapeutics in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $65.44.

Protagonist Therapeutics Stock Performance

Shares of Protagonist Therapeutics stock traded up $2.60 during trading on Monday, reaching $45.57. 436,602 shares of the company's stock were exchanged, compared to its average volume of 870,208. The firm's 50-day moving average price is $46.95 and its 200 day moving average price is $42.67. The company has a market cap of $2.82 billion, a P/E ratio of 17.13 and a beta of 2.65. Protagonist Therapeutics, Inc. has a 1-year low of $27.00 and a 1-year high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.31. The firm had revenue of $28.32 million for the quarter, compared to the consensus estimate of $30.44 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. As a group, equities research analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Protagonist Therapeutics Company Profile

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.