Castleark Management LLC Buys Shares of 50,570 Protagonist Therapeutics, Inc. $PTGX

Castleark Management LLC bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 50,570 shares of the company's stock, valued at approximately $6,199,000. Castleark Management LLC owned about 0.08% of Protagonist Therapeutics at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Keating Financial Advisory Services Inc. bought a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at approximately $30,000. Allworth Financial LP acquired a new stake in Protagonist Therapeutics in the second quarter valued at approximately $31,000. Farther Finance Advisors LLC lifted its stake in Protagonist Therapeutics by 110.6% in the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock valued at $26,000 after acquiring an additional 156 shares during the last quarter. Greenline Wealth Management LLC bought a new stake in Protagonist Therapeutics in the fourth quarter worth approximately $27,000. Finally, Quantbot Technologies LP acquired a new position in shares of Protagonist Therapeutics during the 2nd quarter worth $42,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 34,239 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $148.52, for a total value of $5,085,176.28. Following the completion of the sale, the chief executive officer owned 523,478 shares in the company, valued at approximately $77,746,952.56. This trade represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William D. Waddill sold 9,000 shares of Protagonist Therapeutics stock in a transaction dated 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 sale, the director directly owned 7,825 shares in the company, valued at approximately $922,880.50. This trade represents a 53.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 127,000 shares of company stock worth $17,818,139 over the last 90 days. Company insiders own 5.19% of the company's stock.

Wall Street Analyst Weigh In

PTGX has been the subject of several analyst reports. TD Cowen reaffirmed a "buy" rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. UBS Group raised Protagonist Therapeutics to a "buy" rating in a research report on Monday, August 10th. Wedbush upped their price target on Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Wall Street Zen raised Protagonist Therapeutics from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Johnson Rice set a $165.00 price objective on Protagonist Therapeutics in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.53.

Protagonist Therapeutics Stock Down 2.7%

Shares of NASDAQ PTGX opened at $150.59 on Wednesday. The business's 50 day moving average is $136.34 and its two-hundred day moving average is $111.31. The company has a market cap of $9.74 billion, a P/E ratio of 146.21 and a beta of 1.78. Protagonist Therapeutics, Inc. has a 12 month low of $54.50 and a 12 month high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.02. The company had revenue of $213.47 million during the quarter, compared to analysts' expectations of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.Protagonist Therapeutics's quarterly revenue was up 3746.8% compared to the same quarter last year. Sell-side analysts expect that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current fiscal year.

Protagonist Therapeutics 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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