Axiom Investors LLC DE Invests $1.93 Million in Protagonist Therapeutics, Inc. $PTGX

Key Points

• Axiom Investors LLC DE has invested approximately $1.93 million in Protagonist Therapeutics, purchasing nearly 40,000 shares, making them a notable stakeholder with 0.06% ownership.
• Protagonist Therapeutics reported a loss of ($0.55) earnings per share for the last quarter, missing analysts' estimates, with revenue of $5.55 million, below the expected $8.32 million.
• Wall Street analysts maintain a consensus rating of "Buy" for Protagonist Therapeutics, with a price target averaging around $67.20, highlighting positive growth forecasts for the company.

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

Several other large investors also recently added to or reduced their stakes in PTGX. Deep Track Capital LP bought a new stake in Protagonist Therapeutics during the fourth quarter valued at approximately $38,600,000. Wellington Management Group LLP lifted its holdings in shares of Protagonist Therapeutics by 3,025.4% in the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company's stock worth $36,287,000 after buying an additional 909,998 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Protagonist Therapeutics in the fourth quarter worth $13,162,000. Soleus Capital Management L.P. purchased a new position in shares of Protagonist Therapeutics in the fourth quarter worth $10,615,000. Finally, Burney Co. purchased a new stake in Protagonist Therapeutics during the first quarter valued at $9,768,000. 98.63% of the stock is currently owned by institutional investors.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 10,000 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total transaction of $570,300.00. Following the sale, the insider directly owned 83,892 shares in the company, valued at approximately $4,784,360.76. The trade was a 10.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the business's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $55.05, for a total transaction of $1,214,678.25. Following the sale, the chief executive officer owned 548,538 shares in the company, valued at $30,197,016.90. The trade was a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,859 shares of company stock worth $4,020,877 over the last quarter. 4.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PTGX shares. Citigroup reiterated an "outperform" rating on shares of Protagonist Therapeutics in a research report on Thursday, August 7th. HC Wainwright reiterated a "buy" rating and set a $80.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. Finally, JMP Securities raised their price target on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the company a "market outperform" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $67.20.

Protagonist Therapeutics Stock Performance

Shares of PTGX stock traded up $0.91 on Friday, hitting $59.05. 510,862 shares of the stock traded hands, compared to its average volume of 923,399. The firm's 50-day moving average price is $54.47 and its two-hundred day moving average price is $49.08. Protagonist Therapeutics, Inc. has a twelve month low of $33.31 and a twelve month high of $61.89. The stock has a market capitalization of $3.67 billion, a PE ratio of 84.35 and a beta of 2.33.

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

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.