ADAR1 Capital Management LLC Lowers Stock Holdings in Protagonist Therapeutics, Inc. $PTGX

ADAR1 Capital Management LLC reduced its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 994,119 shares of the company's stock after selling 55,049 shares during the period. Protagonist Therapeutics makes up about 6.2% of ADAR1 Capital Management LLC's portfolio, making the stock its 2nd biggest holding. ADAR1 Capital Management LLC owned approximately 1.55% of Protagonist Therapeutics worth $104,780,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in Protagonist Therapeutics by 110.6% in the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock valued at $26,000 after buying an additional 156 shares during the period. Greenline Wealth Management LLC acquired a new position in Protagonist Therapeutics in the 4th quarter valued at approximately $27,000. EverSource Wealth Advisors LLC raised its position in Protagonist Therapeutics by 63.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company's stock worth $96,000 after purchasing an additional 352 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Protagonist Therapeutics by 222.4% in the fourth quarter. Hantz Financial Services Inc. now owns 951 shares of the company's stock worth $83,000 after acquiring an additional 656 shares during the period. Finally, Canton Hathaway LLC acquired a new position in shares of Protagonist Therapeutics in the 4th quarter worth approximately $87,000. Institutional investors own 98.63% of the company's stock.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director Bryan Giraudo sold 6,000 shares of Protagonist Therapeutics stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $100.00, for a total transaction of $600,000.00. Following the completion of the sale, the director owned 31,825 shares of the company's stock, valued at $3,182,500. The trade was a 15.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William D. Waddill sold 9,000 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total value of $1,061,460.00. Following the transaction, the director directly owned 7,825 shares in the company, valued at approximately $922,880.50. This represents a 53.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 161,130 shares of company stock worth $16,355,220 over the last 90 days. Corporate insiders own 5.19% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PTGX. Citizens Jmp upped their target price on Protagonist Therapeutics from $120.00 to $137.00 and gave the company a "market outperform" rating in a research report on Wednesday, May 6th. Truist Financial upped their target price on shares of Protagonist Therapeutics from $121.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Citigroup restated an "outperform" rating on shares of Protagonist Therapeutics in a research note on Friday, July 17th. Wedbush boosted their target price on Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Protagonist Therapeutics from a "buy" rating to a "strong-buy" rating in a report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.00.

Protagonist Therapeutics Price Performance

PTGX opened at $136.84 on Wednesday. Protagonist Therapeutics, Inc. has a one year low of $50.49 and a one year high of $143.29. The company has a fifty day moving average price of $118.26 and a 200-day moving average price of $102.21. The firm has a market capitalization of $8.80 billion, a P/E ratio of -75.60 and a beta of 1.79.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.55. The firm had revenue of $56.37 million for the quarter, compared to analysts' expectations of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. On average, analysts expect that Protagonist Therapeutics, Inc. will post 3.69 earnings per share for the current year.

Protagonist Therapeutics Company Profile

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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