Exchange Traded Concepts LLC Grows Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

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 the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 hedge funds and other institutional investors also recently added to or reduced their stakes in PTGX. Farallon Capital Management LLC increased its holdings 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 buying an additional 69,000 shares during the last quarter. RTW Investments LP increased its holdings 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 buying an additional 72,433 shares during the last quarter. BVF Inc. IL increased its holdings 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 buying an additional 49,848 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 buying an additional 83,185 shares during the last quarter. Finally, Deep Track Capital LP purchased a new stake in Protagonist Therapeutics during the fourth quarter valued at approximately $38,600,000. Institutional investors own 98.63% of the company's stock.

Insider Buying and Selling

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 owns 61,065 shares in the company, valued at approximately $2,808,990. This represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Arturo Md Molina sold 10,000 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was 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. This represents a 10.65% decrease in their position. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ PTGX traded down $0.58 during midday trading on Friday, reaching $53.34. The stock had a trading volume of 2,280,828 shares, compared to its average volume of 898,091. The stock has a 50-day moving average of $47.94 and a 200-day moving average of $43.81. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 71.12 and a beta of 2.25. Protagonist Therapeutics, Inc. has a 12-month low of $30.67 and a 12-month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $30.44 million. As a group, analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on PTGX shares. JPMorgan Chase & Co. upped their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Truist Financial upped their target price on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 target price 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 note on Sunday, June 8th. Finally, BMO Capital Markets increased their price objective on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.