GSA Capital Partners LLP Acquires New Position in 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 bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,963 shares of the company's stock, valued at approximately $579,000.

Other large investors have also bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in shares of Protagonist Therapeutics during the fourth quarter valued at approximately $48,000. GAMMA Investing LLC lifted its position in Protagonist Therapeutics by 153.3% in the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock valued at $58,000 after acquiring an additional 728 shares in the last quarter. Covestor Ltd boosted its stake in Protagonist Therapeutics by 5,200.0% during the 4th quarter. Covestor Ltd now owns 1,643 shares of the company's stock valued at $63,000 after purchasing an additional 1,612 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Protagonist Therapeutics in the 1st quarter worth $117,000. Finally, New Vernon Capital Holdings II LLC bought a new stake in shares of Protagonist Therapeutics in the 4th quarter worth $118,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PTGX has been the subject of several research analyst reports. HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Wall Street Zen raised shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. Finally, Citigroup started coverage on Protagonist Therapeutics in a report on Tuesday, June 17th. They set a "buy" rating and a $72.00 price target on the stock. 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. According to data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $66.10.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $54.78, for a total transaction of $570,533.70. Following the sale, the chief executive officer owned 520,603 shares in the company, valued at approximately $28,518,632.34. This trade represents a 1.96% decrease in their position. The transaction 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 Protagonist Therapeutics stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total transaction of $570,300.00. Following the transaction, the insider directly owned 83,892 shares in the company, valued at $4,784,360.76. This represents a 10.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,859 shares of company stock valued at $4,020,877. Company insiders own 4.90% of the company's stock.

Protagonist Therapeutics Trading Down 0.1%

PTGX opened at $53.83 on Monday. The firm's 50 day simple moving average is $53.19 and its two-hundred day simple moving average is $46.89. The company has a market capitalization of $3.34 billion, a PE ratio of 71.77 and a beta of 2.33. Protagonist Therapeutics, Inc. has a 1-year low of $32.50 and a 1-year high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate 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 return on equity of 9.22% and a net margin of 27.04%. Equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal 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.

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