Protagonist Therapeutics, Inc. $PTGX Shares Purchased by Perceptive Advisors LLC

Key Points

• Perceptive Advisors increased its stake in Protagonist Therapeutics by 31.1% in the fourth quarter, bringing its holdings to 1.35 million shares worth about $117.9 million.
• Other major institutional investors also boosted positions, including Janus Henderson, Vanguard, and UBS, and institutions now own 98.63% of the company.
• Insiders have been selling shares recently, including the CEO and another executive, while analysts maintain a generally positive outlook with a Moderate Buy consensus and a target price of $115.21.

Perceptive Advisors LLC raised its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 31.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,350,425 shares of the company's stock after purchasing an additional 320,291 shares during the quarter. Protagonist Therapeutics accounts for 2.1% of Perceptive Advisors LLC's portfolio, making the stock its 10th largest position. Perceptive Advisors LLC owned 2.16% of Protagonist Therapeutics worth $117,946,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PTGX. Janus Henderson Group PLC grew its stake in Protagonist Therapeutics by 140.7% during the 4th quarter. Janus Henderson Group PLC now owns 2,649,981 shares of the company's stock valued at $231,355,000 after purchasing an additional 1,549,160 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Protagonist Therapeutics by 27.2% in the 4th quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company's stock worth $472,832,000 after acquiring an additional 1,156,461 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter worth approximately $72,114,000. Commodore Capital LP acquired a new position in shares of Protagonist Therapeutics in the 2nd quarter worth approximately $59,415,000. Finally, UBS Group AG grew its position in shares of Protagonist Therapeutics by 46.1% in the 4th quarter. UBS Group AG now owns 2,770,021 shares of the company's stock worth $241,934,000 after acquiring an additional 874,013 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company's stock.

Insider Buying and Selling at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $104.79, for a total transaction of $1,571,850.00. Following the completion of the transaction, the insider owned 84,115 shares in the company, valued at $8,814,410.85. The trade was a 15.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total value of $7,509,000.00. Following the transaction, the chief executive officer owned 523,478 shares of the company's stock, valued at $52,410,617.36. This represents a 12.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 272,345 shares of company stock worth $27,676,386. 5.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. The Goldman Sachs Group reiterated a "neutral" rating and issued a $110.00 target price on shares of Protagonist Therapeutics in a research report on Wednesday, May 6th. Leerink Partners lifted their target price on Protagonist Therapeutics from $107.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, March 19th. Jefferies Financial Group reiterated a "buy" rating and issued a $121.00 target price on shares of Protagonist Therapeutics in a research report on Wednesday, March 18th. Citigroup reiterated an "outperform" rating on shares of Protagonist Therapeutics in a research report on Wednesday, May 6th. Finally, Johnson Rice reiterated a "buy" rating on shares of Protagonist Therapeutics in a research report on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $115.21.

Protagonist Therapeutics Price Performance

NASDAQ:PTGX opened at $111.44 on Thursday. Protagonist Therapeutics, Inc. has a 12-month low of $49.38 and a 12-month high of $113.66. The firm has a market capitalization of $7.17 billion, a P/E ratio of -61.57 and a beta of 1.85. The business has a 50 day simple moving average of $102.19 and a 200 day simple moving average of $93.72.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.55. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The business had revenue of $56.37 million during the quarter, compared to analyst estimates of $11.70 million. Research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.93 EPS for the current fiscal year.

Protagonist Therapeutics 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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