39,969 Shares in Protagonist Therapeutics, Inc. $PTGX Bought by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE purchased 39,969 shares of Protagonist Therapeutics, Inc. for approximately $1.93 million in the first quarter, increasing their stake to 0.06% of the company.
• Protagonist Therapeutics' stock has a current market capitalization of $3.5 billion, with a consensus rating of Buy and a price target of $67.20.
• Insider transactions indicate significant sales, with CEO Dinesh V. Patel selling 10,415 shares for over $570,000, reflecting a 1.96% decrease in his ownership.

Axiom Investors LLC DE bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 39,969 shares of the company's stock, valued at approximately $1,933,000. Axiom Investors LLC DE owned approximately 0.06% of Protagonist Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Protagonist Therapeutics by 153.3% during the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock worth $58,000 after purchasing an additional 728 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Protagonist Therapeutics by 141.7% in the first quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company's stock valued at $59,000 after acquiring an additional 710 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Protagonist Therapeutics in the fourth quarter valued at $48,000. Brooklyn Investment Group acquired a new position in Protagonist Therapeutics in the first quarter valued at $68,000. Finally, PNC Financial Services Group Inc. boosted its stake in Protagonist Therapeutics by 38.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,992 shares of the company's stock valued at $96,000 after acquiring an additional 551 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company's stock.

Wall Street Analyst Weigh In

PTGX has been the subject of several research analyst reports. JMP Securities upped their price objective on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. HC Wainwright restated a "buy" rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. Finally, Citigroup restated an "outperform" rating on shares of Protagonist Therapeutics in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $67.20.

Insider Activity

In related news, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $54.78, for a total transaction of $570,533.70. Following the completion of the transaction, the chief executive officer directly owned 520,603 shares of the company's stock, valued at $28,518,632.34. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William D. Waddill sold 4,000 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $59.25, for a total transaction of $237,000.00. Following the transaction, the director directly owned 9,130 shares of the company's stock, valued at $540,952.50. This represents a 30.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,859 shares of company stock valued at $3,687,577 in the last quarter. Insiders own 4.90% of the company's stock.

Protagonist Therapeutics Stock Performance

Shares of PTGX opened at $56.19 on Tuesday. Protagonist Therapeutics, Inc. has a fifty-two week low of $33.31 and a fifty-two week high of $61.89. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 80.27 and a beta of 2.22. The firm has a 50-day simple moving average of $55.07 and a 200-day simple moving average of $50.24.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%.The business had revenue of $5.55 million for the quarter, compared to analyst estimates of $8.32 million. Equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Protagonist Therapeutics 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.

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