GAMMA Investing LLC Increases Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

GAMMA Investing LLC lifted its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 12,147.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,177 shares of the company's stock after purchasing an additional 57,702 shares during the quarter. GAMMA Investing LLC owned about 0.09% of Protagonist Therapeutics worth $2,813,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new stake in Protagonist Therapeutics during the 4th quarter worth about $48,000. Covestor Ltd lifted its position in 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 acquiring an additional 1,612 shares during the period. New Vernon Capital Holdings II LLC acquired a new stake in Protagonist Therapeutics during the 4th quarter worth about $118,000. Cibc World Markets Corp acquired a new stake in Protagonist Therapeutics during the 4th quarter worth about $211,000. Finally, Two Sigma Securities LLC acquired a new stake in Protagonist Therapeutics during the 4th quarter worth about $212,000. Institutional investors and hedge funds own 98.63% of the company's stock.

Insiders Place Their Bets

In related news, CFO Asif Ali sold 1,756 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total transaction of $80,776.00. Following the transaction, the chief financial officer now owns 61,065 shares of the company's stock, valued at $2,808,990. This trade represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Arturo Md Molina sold 10,000 shares of the firm's 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 transaction, the insider now directly owns 83,892 shares in the company, valued at approximately $4,784,360.76. This represents a 10.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,756 shares of company stock valued at $868,076. 4.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on PTGX shares. BTIG Research set a $73.00 price target on Protagonist Therapeutics in a research report on Monday, March 3rd. Truist Financial boosted their price objective on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. BMO Capital Markets lifted their price target on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. Wall Street Zen upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. Finally, HC Wainwright restated a "buy" rating and issued a $80.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $65.44.

Protagonist Therapeutics Price Performance

PTGX traded up $0.05 during trading hours on Friday, reaching $56.37. The company's stock had a trading volume of 985,411 shares, compared to its average volume of 896,197. The business's 50-day moving average is $46.72 and its 200-day moving average is $43.42. Protagonist Therapeutics, Inc. has a fifty-two week low of $30.67 and a fifty-two week high of $60.60. The stock has a market cap of $3.49 billion, a PE ratio of 21.19 and a beta of 2.25.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.31. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $28.32 million for the quarter, compared to analysts' expectations of $30.44 million. Analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

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.