Hussman Strategic Advisors Inc. lessened its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 50.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 52,500 shares of the company's stock after selling 52,500 shares during the quarter. Hussman Strategic Advisors Inc. owned about 0.08% of Protagonist Therapeutics worth $2,539,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Jennison Associates LLC acquired a new stake in Protagonist Therapeutics in the 1st quarter worth about $886,000. New York State Common Retirement Fund raised its stake in Protagonist Therapeutics by 9.5% in the 1st quarter. New York State Common Retirement Fund now owns 19,582 shares of the company's stock worth $947,000 after purchasing an additional 1,700 shares in the last quarter. Xponance Inc. acquired a new stake in Protagonist Therapeutics in the 1st quarter worth about $216,000. Trek Financial LLC acquired a new stake in Protagonist Therapeutics in the 1st quarter worth about $2,825,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Protagonist Therapeutics by 48.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,772 shares of the company's stock worth $908,000 after purchasing an additional 6,135 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company's stock.
Protagonist Therapeutics Stock Performance
Shares of Protagonist Therapeutics stock traded up $0.13 during midday trading on Friday, hitting $56.57. 43,865 shares of the company traded hands, compared to its average volume of 979,382. Protagonist Therapeutics, Inc. has a 12 month low of $32.50 and a 12 month high of $60.60. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 75.41 and a beta of 2.26. The firm's fifty day moving average price is $51.04 and its 200-day moving average price is $45.48.
Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.31. Protagonist Therapeutics had a net margin of 27.04% and a return on equity of 9.22%. The firm had revenue of $28.32 million for the quarter, compared to analyst estimates of $30.44 million. Equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.
Insider Buying and Selling
In other Protagonist Therapeutics news, insider Arturo Md Molina sold 10,000 shares of the business's 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 sale, the insider directly owned 83,892 shares of the company's stock, valued at $4,784,360.76. The trade was a 10.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Asif Ali sold 1,756 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total transaction of $80,776.00. Following the sale, the chief financial officer directly owned 61,065 shares in the company, valued at $2,808,990. The trade was a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.90% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on PTGX. 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. Wall Street Zen upgraded shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. Citigroup began coverage on shares of Protagonist Therapeutics in a research note on Tuesday, June 17th. They issued a "buy" rating and a $72.00 price objective for the company. Finally, Wedbush restated an "outperform" rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $66.10.
View Our Latest Research Report on PTGX
Protagonist Therapeutics Profile
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Free Report)
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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