Perceptive Advisors LLC Sells 119,546 Shares of Protagonist Therapeutics, Inc. $PTGX

Key Points

• Perceptive Advisors reduced its Protagonist Therapeutics stake by 8.9%, selling 119,546 shares in the first quarter. It still owned 1.23 million shares worth approximately $129.7 million, representing a 1.91% company stake.
• PTGX shares opened at $136.64, near their 52-week high of $143.29, with a market capitalization of $8.79 billion. The company exceeded quarterly earnings expectations, reporting $0.05 per share versus the consensus estimate of a $0.50 loss and revenue of $56.37 million.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and a $123 price target. However, insiders sold 161,130 shares worth $16.36 million over the past three months.

Perceptive Advisors LLC lowered its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 8.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,230,879 shares of the company's stock after selling 119,546 shares during the quarter. Protagonist Therapeutics comprises about 2.5% of Perceptive Advisors LLC's investment portfolio, making the stock its 10th biggest position. Perceptive Advisors LLC owned approximately 1.91% of Protagonist Therapeutics worth $129,735,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PTGX. Farther Finance Advisors LLC increased its position in Protagonist Therapeutics by 110.6% during the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock worth $26,000 after buying an additional 156 shares during the last quarter. Greenline Wealth Management LLC acquired a new stake in shares of Protagonist Therapeutics in the fourth quarter worth about $27,000. Osaic Holdings Inc. boosted its stake in shares of Protagonist Therapeutics by 79.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company's stock worth $65,000 after acquiring an additional 525 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Protagonist Therapeutics by 222.4% during the 4th quarter. Hantz Financial Services Inc. now owns 951 shares of the company's stock worth $83,000 after acquiring an additional 656 shares in the last quarter. Finally, Canton Hathaway LLC bought a new stake in shares of Protagonist Therapeutics during the 4th quarter worth about $87,000. 98.63% of the stock is currently owned by institutional investors.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $136.64 on Friday. Protagonist Therapeutics, Inc. has a 52 week low of $50.49 and a 52 week high of $143.29. The firm has a market capitalization of $8.79 billion, a PE ratio of -75.49 and a beta of 1.79. The business's 50-day simple moving average is $120.38 and its 200-day simple moving average is $103.23.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.55. The firm had revenue of $56.37 million during the quarter, compared to the consensus estimate of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. Research analysts forecast that Protagonist Therapeutics, Inc. will post 3.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen raised Protagonist Therapeutics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 25th. Citigroup reaffirmed an "outperform" rating on shares of Protagonist Therapeutics in a research report on Friday, July 17th. Zacks Research upgraded Protagonist Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. Wolfe Research started coverage on shares of Protagonist Therapeutics in a research report on Thursday, May 21st. They issued an "outperform" rating and a $135.00 price target on the stock. Finally, Wedbush boosted their price objective on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.

Insider Transactions at Protagonist Therapeutics

In other news, Director William D. Waddill sold 9,000 shares of the firm's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total value of $1,061,460.00. Following the sale, the director owned 7,825 shares in the company, valued at approximately $922,880.50. This trade represents a 53.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the transaction, the chief executive officer directly owned 523,478 shares in the company, valued at $52,410,617.36. This trade represents a 12.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 161,130 shares of company stock worth $16,355,220 over the last three months. 5.19% of the stock is currently owned by insiders.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc NASDAQ: PTGX is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist's approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn's disease.

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