GAMMA Investing LLC Acquires 57,702 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

GAMMA Investing LLC raised its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 12,147.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,177 shares of the company's stock after buying an additional 57,702 shares during the period. GAMMA Investing LLC owned 0.09% of Protagonist Therapeutics worth $2,813,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $48,000. Covestor Ltd increased its stake in shares of Protagonist Therapeutics by 5,200.0% during the 4th quarter. Covestor Ltd now owns 1,643 shares of the company's stock worth $63,000 after purchasing an additional 1,612 shares during the last quarter. New Vernon Capital Holdings II LLC purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $118,000. Cibc World Markets Corp purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $211,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $212,000. Hedge funds and other institutional investors own 98.63% of the company's stock.

Insider Activity

In related news, CFO Asif Ali sold 1,756 shares of the company's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total value of $80,776.00. Following the completion of the transaction, the chief financial officer now directly owns 61,065 shares in the company, valued at approximately $2,808,990. The trade was a 2.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arturo Md Molina sold 10,000 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $57.03, for a total transaction of $570,300.00. Following the completion of the transaction, the insider now owns 83,892 shares of the company's stock, valued at $4,784,360.76. This trade represents a 10.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.90% of the company's stock.

Analysts Set New Price Targets

PTGX has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. BMO Capital Markets lifted their price objective on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. BTIG Research set a $73.00 price objective on shares of Protagonist Therapeutics in a research note on Monday, March 3rd. Finally, Wedbush reiterated an "outperform" rating and issued a $70.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Two research 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's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $65.44.

Protagonist Therapeutics Trading Down 3.0%

Shares of PTGX traded down $1.71 during mid-day trading on Monday, reaching $54.66. 802,396 shares of the stock traded hands, compared to its average volume of 895,860. The firm has a fifty day moving average price of $46.98 and a 200 day moving average price of $43.48. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 20.55 and a beta of 2.25. Protagonist Therapeutics, Inc. has a 1 year low of $30.67 and a 1 year high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates of ($0.50) by $0.31. The firm had revenue of $28.32 million during the quarter, compared to analyst estimates of $30.44 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. On average, sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Protagonist Therapeutics Company 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.