Driehaus Capital Management LLC Has $11.37 Million Holdings in Protagonist Therapeutics, Inc. $PTGX

Key Points

• Driehaus Capital Management LLC has decreased its stake in Protagonist Therapeutics, Inc. by 30.8%, owning approximately 0.38% of the company valued at $11.36 million after selling 104,625 shares.
• Protagonist Therapeutics reported a loss of ($0.55) earnings per share for its last quarter, which missed analysts' expectations, alongside a revenue of $5.55 million.
• Despite recent sales by insiders, the company has a consensus rating of "Buy" with an average price target of $67.20, as several research firms have increased their price targets for the stock.

Driehaus Capital Management LLC decreased its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,073 shares of the company's stock after selling 104,625 shares during the period. Driehaus Capital Management LLC owned about 0.38% of Protagonist Therapeutics worth $11,368,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Farallon Capital Management LLC increased its holdings in shares of Protagonist Therapeutics by 1.2% in the fourth quarter. Farallon Capital Management LLC now owns 5,930,006 shares of the company's stock valued at $228,898,000 after purchasing an additional 69,000 shares during the period. RTW Investments LP grew its stake in Protagonist Therapeutics by 1.3% during the 4th quarter. RTW Investments LP now owns 5,498,545 shares of the company's stock valued at $212,244,000 after purchasing an additional 72,433 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Protagonist Therapeutics by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 4,277,218 shares of the company's stock worth $206,846,000 after acquiring an additional 57,181 shares in the last quarter. BVF Inc. IL boosted its position in Protagonist Therapeutics by 2.7% during the 4th quarter. BVF Inc. IL now owns 1,900,015 shares of the company's stock worth $73,341,000 after acquiring an additional 49,848 shares during the period. Finally, Deep Track Capital LP purchased a new stake in shares of Protagonist Therapeutics during the fourth quarter valued at $38,600,000. Institutional investors and hedge funds own 98.63% of the company's stock.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 22,065 shares of Protagonist Therapeutics stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $55.05, for a total value of $1,214,678.25. Following the transaction, the chief executive officer owned 548,538 shares in the company, valued at approximately $30,197,016.90. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,859 shares of company stock worth $4,257,877. 4.90% of the stock is owned by insiders.

Protagonist Therapeutics Trading Up 0.4%

PTGX traded up $0.25 during trading on Friday, hitting $59.85. The company's stock had a trading volume of 738,985 shares, compared to its average volume of 926,325. The business's fifty day simple moving average is $54.96 and its 200 day simple moving average is $49.80. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 85.05 and a beta of 2.22. Protagonist Therapeutics, Inc. has a twelve month low of $33.31 and a twelve month high of $61.89.

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

Analyst Ratings Changes

PTGX has been the topic of several recent research reports. JMP Securities lifted their price objective on Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Citigroup reaffirmed an "outperform" rating on shares of Protagonist Therapeutics in a research note on Thursday, August 7th. Finally, Wall Street Zen raised shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $67.20.

Protagonist Therapeutics Profile

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.