Burney Co. Buys Shares of 201,985 Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Burney Co. acquired a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 201,985 shares of the company's stock, valued at approximately $9,768,000. Burney Co. owned 0.33% of Protagonist Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Protagonist Therapeutics by 153.3% in the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock valued at $58,000 after buying an additional 728 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Protagonist Therapeutics in the fourth quarter valued at $48,000. Covestor Ltd increased its stake in shares of Protagonist Therapeutics by 5,200.0% in the fourth quarter. Covestor Ltd now owns 1,643 shares of the company's stock worth $63,000 after acquiring an additional 1,612 shares during the last quarter. Penserra Capital Management LLC acquired a new position in Protagonist Therapeutics during the first quarter worth $117,000. Finally, New Vernon Capital Holdings II LLC bought a new stake in Protagonist Therapeutics during the fourth quarter valued at about $118,000. Hedge funds and other institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Stock Up 2.6%

Shares of NASDAQ:PTGX traded up $1.41 during midday trading on Friday, reaching $55.15. The company's stock had a trading volume of 490,995 shares, compared to its average volume of 765,993. The firm has a 50 day moving average of $52.31 and a 200-day moving average of $46.15. The firm has a market capitalization of $3.42 billion, a P/E ratio of 73.53 and a beta of 2.26. Protagonist Therapeutics, Inc. has a 12-month low of $32.50 and a 12-month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.31. Protagonist Therapeutics had a net margin of 27.04% and a return on equity of 9.22%. The firm had revenue of $28.32 million for the quarter, compared to the consensus estimate of $30.44 million. On average, research analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Insiders Place Their Bets

In related news, insider Arturo Md Molina sold 10,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $57.03, for a total value of $570,300.00. Following the completion of the sale, the insider directly owned 83,892 shares in the company, valued at $4,784,360.76. The trade was a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 548,538 shares of the company's stock, valued at $30,197,016.90. This represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,444 shares of company stock valued at $3,450,344. 4.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PTGX has been the subject of several recent analyst reports. Citigroup assumed coverage on shares of Protagonist Therapeutics in a report on Tuesday, June 17th. They set a "buy" rating and a $72.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. Wedbush reiterated an "outperform" rating and issued a $70.00 price target on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Finally, Wall Street Zen upgraded shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.10.

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.