Assetmark Inc. Purchases 46,157 Shares of Protagonist Therapeutics, Inc. $PTGX

Key Points

• Assetmark Inc. massively increased its stake in Protagonist Therapeutics, buying 46,157 additional shares in the first quarter and raising its holdings by 16,195.4% to 46,442 shares worth about $4.9 million.
• Protagonist Therapeutics rose 3.0% and recently traded around $138.31, near its 12-month high of $143.29. The company also reported quarterly earnings that beat expectations, posting EPS of $0.05 versus an estimated loss of $0.50 and revenue of $56.37 million versus $11.70 million expected.
• Insiders have been selling shares, including director William D. Waddill and director Bryan Giraudo, with total insider sales of 161,130 shares over the last 90 days. Analysts remain broadly constructive, with the stock carrying a Moderate Buy consensus and an average target price of $123.00.

Assetmark Inc. lifted its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 16,195.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,442 shares of the company's stock after buying an additional 46,157 shares during the quarter. Assetmark Inc. owned about 0.07% of Protagonist Therapeutics worth $4,895,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock worth $26,000 after acquiring an additional 156 shares during the period. Greenline Wealth Management LLC acquired a new position in shares of Protagonist Therapeutics in the 4th quarter valued at about $27,000. Hantz Financial Services Inc. boosted its position in shares of Protagonist Therapeutics by 222.4% during the 4th quarter. Hantz Financial Services Inc. now owns 951 shares of the company's stock valued at $83,000 after purchasing an additional 656 shares in the last quarter. Canton Hathaway LLC bought a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at about $87,000. Finally, Truvestments Capital LLC grew its stake in Protagonist Therapeutics by 60.8% during the fourth quarter. Truvestments Capital LLC now owns 1,161 shares of the company's stock worth $101,000 after purchasing an additional 439 shares during the period. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Trading Up 3.0%

Shares of PTGX stock opened at $138.31 on Wednesday. The firm has a fifty day simple moving average of $114.88 and a two-hundred day simple moving average of $100.41. Protagonist Therapeutics, Inc. has a 12 month low of $50.49 and a 12 month high of $143.29. The firm has a market capitalization of $8.89 billion, a PE ratio of -76.41 and a beta of 1.79.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.55. The firm had revenue of $56.37 million during the quarter, compared to analysts' expectations of $11.70 million. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. On average, equities analysts predict that Protagonist Therapeutics, Inc. will post 2.93 earnings per share for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In other news, Director William D. Waddill sold 9,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total value of $1,061,460.00. Following the transaction, the director owned 7,825 shares in the company, valued at $922,880.50. This trade represents a 53.49% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bryan Giraudo sold 6,000 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $100.00, for a total value of $600,000.00. Following the sale, the director owned 31,825 shares of the company's stock, valued at $3,182,500. This trade represents a 15.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 161,130 shares of company stock valued at $16,355,220 over the last ninety days. 5.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

PTGX has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a "neutral" rating and set a $110.00 price target on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of Protagonist Therapeutics in a research note on Friday, May 15th. Truist Financial lifted their price target on shares of Protagonist Therapeutics from $121.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Citigroup reiterated an "outperform" rating on shares of Protagonist Therapeutics in a report on Friday. Finally, TD Cowen reissued a "buy" rating on shares of Protagonist Therapeutics in a research report on Wednesday, July 1st. Two investment 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. According to data from MarketBeat.com, Protagonist Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $123.00.

About Protagonist Therapeutics

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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