Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock Position Lifted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 2,572.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,392 shares of the company's stock after purchasing an additional 26,367 shares during the period. Exchange Traded Concepts LLC's holdings in Protagonist Therapeutics were worth $1,325,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Farallon Capital Management LLC grew its position in Protagonist Therapeutics by 1.2% during the fourth quarter. Farallon Capital Management LLC now owns 5,930,006 shares of the company's stock valued at $228,898,000 after purchasing an additional 69,000 shares in the last quarter. RTW Investments LP grew its position in Protagonist Therapeutics by 1.3% during the fourth quarter. RTW Investments LP now owns 5,498,545 shares of the company's stock valued at $212,244,000 after purchasing an additional 72,433 shares in the last quarter. BVF Inc. IL grew its position in Protagonist Therapeutics by 2.7% during the fourth quarter. BVF Inc. IL now owns 1,900,015 shares of the company's stock valued at $73,341,000 after purchasing an additional 49,848 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Protagonist Therapeutics by 6.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,392,652 shares of the company's stock valued at $53,758,000 after purchasing an additional 83,185 shares in the last quarter. Finally, Deep Track Capital LP purchased a new position in Protagonist Therapeutics during the fourth quarter valued at approximately $38,600,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Trading Down 2.3%

Shares of Protagonist Therapeutics stock opened at $53.92 on Thursday. The firm has a fifty day simple moving average of $47.46 and a 200-day simple moving average of $43.63. Protagonist Therapeutics, Inc. has a 1-year low of $30.67 and a 1-year high of $60.60. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 71.89 and a beta of 2.25.

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, 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 business had revenue of $28.32 million during the quarter, compared to analysts' expectations of $30.44 million. As a group, research analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Insider Transactions at Protagonist Therapeutics

In related news, CFO Asif Ali sold 1,756 shares of the company's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total transaction of $80,776.00. Following the completion of the transaction, the chief financial officer now directly owns 61,065 shares in the company, valued at $2,808,990. This represents a 2.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Arturo Md Molina sold 10,000 shares of the company's stock in a transaction 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 now owns 83,892 shares of the company's stock, valued at approximately $4,784,360.76. The trade was a 10.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PTGX. BTIG Research set a $73.00 price objective on shares of Protagonist Therapeutics in a research report on Monday, March 3rd. BMO Capital Markets lifted their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. HC Wainwright reiterated a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. Wedbush reiterated an "outperform" rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Two equities research 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $66.10.

About Protagonist Therapeutics

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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