Commodore Capital LP Has $39.30 Million Stock Holdings in Protagonist Therapeutics, Inc. $PTGX

Key Points

• Commodore Capital LP cut its Protagonist Therapeutics stake by 56.1% in the fourth quarter, but still held 450,000 shares worth about $39.3 million.
• Several insiders sold shares recently, including CEO Dinesh V. Patel and CFO Asif Ali; over the last three months, insiders sold 272,345 shares worth about $27.7 million.
• Wall Street remains broadly positive on PTGX, with a Moderate Buy consensus rating and a consensus price target of $115.21 after the company beat quarterly EPS and revenue estimates.

Commodore Capital LP cut its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 56.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 450,000 shares of the company's stock after selling 575,000 shares during the period. Protagonist Therapeutics accounts for approximately 2.6% of Commodore Capital LP's investment portfolio, making the stock its 17th biggest holding. Commodore Capital LP owned about 0.72% of Protagonist Therapeutics worth $39,303,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of 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. Oregon Public Employees Retirement Fund grew its stake in shares of Protagonist Therapeutics by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,393 shares of the company's stock valued at $1,170,000 after buying an additional 193 shares during the period. Maryland State Retirement & Pension System grew its stake in shares of Protagonist Therapeutics by 2.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 8,603 shares of the company's stock valued at $751,000 after buying an additional 196 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Protagonist Therapeutics by 8.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,959 shares of the company's stock valued at $258,000 after buying an additional 221 shares during the period. Finally, Parkman Healthcare Partners LLC grew its stake in shares of Protagonist Therapeutics by 0.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 61,849 shares of the company's stock valued at $4,109,000 after buying an additional 253 shares during the period. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the transaction, the chief executive officer owned 523,478 shares in the company, valued at $52,410,617.36. The trade was a 12.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Asif Ali sold 24,765 shares of the business's stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $104.24, for a total value of $2,581,503.60. Following the completion of the transaction, the chief financial officer owned 60,753 shares in the company, valued at $6,332,892.72. The trade was a 28.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 272,345 shares of company stock worth $27,676,386. 5.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PTGX has been the subject of several research reports. Jefferies Financial Group restated a "buy" rating and issued a $121.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, March 18th. Barclays lifted their price target on Protagonist Therapeutics from $113.00 to $119.00 and gave the company an "overweight" rating in a research note on Thursday, March 19th. Truist Financial lifted their price target on Protagonist Therapeutics from $110.00 to $121.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Wolfe Research began coverage on Protagonist Therapeutics in a research note on Thursday, May 21st. They set an "outperform" rating and a $135.00 price target for the company. Finally, TD Cowen lifted their price target on Protagonist Therapeutics from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Protagonist Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.21.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $111.44 on Thursday. The company has a market capitalization of $7.17 billion, a P/E ratio of -61.57 and a beta of 1.85. Protagonist Therapeutics, Inc. has a 52-week low of $49.38 and a 52-week high of $113.66. The business has a 50-day simple moving average of $102.19 and a two-hundred day simple moving average of $93.72.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.55. The business had revenue of $56.37 million during the quarter, compared to the consensus estimate of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. As a group, sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 2.93 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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