Hussman Strategic Advisors Inc. Trims Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Hussman Strategic Advisors Inc. lowered its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 50.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 52,500 shares of the company's stock after selling 52,500 shares during the quarter. Hussman Strategic Advisors Inc. owned approximately 0.08% of Protagonist Therapeutics worth $2,539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Jennison Associates LLC purchased a new stake in Protagonist Therapeutics in the 1st quarter worth approximately $886,000. New York State Common Retirement Fund lifted its holdings 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 buying an additional 1,700 shares during the period. Xponance Inc. purchased a new stake in Protagonist Therapeutics in the 1st quarter worth approximately $216,000. Trek Financial LLC purchased a new stake in Protagonist Therapeutics in the 1st quarter worth approximately $2,825,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings 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 buying an additional 6,135 shares during the period. Hedge funds and other institutional investors own 98.63% of the company's stock.

Insider Buying and Selling at Protagonist Therapeutics

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

Protagonist Therapeutics Stock Down 0.6%

Shares of Protagonist Therapeutics stock traded down $0.34 on Monday, reaching $55.15. The company's stock had a trading volume of 122,568 shares, compared to its average volume of 840,128. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 73.60 and a beta of 2.26. The firm's fifty day simple moving average is $51.29 and its two-hundred day simple moving average is $45.69. Protagonist Therapeutics, Inc. has a 52 week low of $32.50 and a 52 week high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, beating 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 company had revenue of $28.32 million for the quarter, compared to the consensus estimate of $30.44 million. As a group, research analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PTGX shares. HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. Wedbush reissued an "outperform" rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Citigroup initiated coverage on shares of Protagonist Therapeutics in a research note on Tuesday, June 17th. They set a "buy" rating and a $72.00 price objective on the stock. Finally, Wall Street Zen raised shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $66.10.

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.