GSA Capital Partners LLP Buys Shares of 11,963 Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Key Points

• GSA Capital Partners LLP acquired 11,963 shares of Protagonist Therapeutics, valued at approximately $579,000, marking a new investment in the company.
• Protagonist Therapeutics receives a consensus rating of "Moderate Buy" from analysts, with a price target averaging $66.10.
• Insider transactions indicate selling activity, including CEO Dinesh V. Patel selling 10,415 shares, representing a 1.96% decrease in his holdings.

GSA Capital Partners LLP acquired a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,963 shares of the company's stock, valued at approximately $579,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PTGX. GAMMA Investing LLC increased its holdings in shares of Protagonist Therapeutics by 153.3% during the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock worth $58,000 after buying an additional 728 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Protagonist Therapeutics in the 4th quarter valued at about $48,000. Covestor Ltd increased its stake in Protagonist Therapeutics by 5,200.0% in the 4th quarter. Covestor Ltd now owns 1,643 shares of the company's stock valued at $63,000 after buying an additional 1,612 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Protagonist Therapeutics in the 1st quarter valued at about $117,000. Finally, New Vernon Capital Holdings II LLC purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $118,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX traded down $2.49 during mid-day trading on Thursday, reaching $51.39. 573,668 shares of the stock were exchanged, compared to its average volume of 947,472. The company has a market capitalization of $3.18 billion, a P/E ratio of 68.33 and a beta of 2.33. Protagonist Therapeutics, Inc. has a 1 year low of $33.31 and a 1 year high of $60.60. The business's 50 day moving average is $53.50 and its 200-day moving average is $47.05.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). Protagonist Therapeutics had a net margin of 27.04% and a return on equity of 9.22%. The company had revenue of $5.55 million for the quarter, compared to analyst estimates of $8.32 million. Equities analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup reissued an "outperform" rating on shares of Protagonist Therapeutics in a report on Thursday. HC Wainwright restated a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. Finally, JMP Securities lifted their price target on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the company a "market outperform" rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.20.

Insiders Place Their Bets

In other news, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $55.05, for a total transaction of $1,214,678.25. Following the transaction, the chief executive officer directly owned 548,538 shares of the company's stock, valued at $30,197,016.90. This represents a 3.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Arturo Md Molina sold 10,000 shares of the business's stock in a transaction dated 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 sale, the insider owned 83,892 shares in the company, valued at $4,784,360.76. This represents a 10.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,859 shares of company stock worth $4,020,877 over the last ninety days. Corporate insiders own 4.90% of the company's stock.

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.