Protagonist Therapeutics, Inc. $PTGX Shares Sold by Atika Capital Management LLC

Atika Capital Management LLC reduced its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 27.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,100 shares of the company's stock after selling 23,900 shares during the period. Atika Capital Management LLC owned approximately 0.10% of Protagonist Therapeutics worth $6,545,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Protagonist Therapeutics by 27.2% during the 4th quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company's stock worth $472,832,000 after buying an additional 1,156,461 shares in the last quarter. State Street Corp grew its holdings in Protagonist Therapeutics by 18.5% during the second quarter. State Street Corp now owns 3,207,543 shares of the company's stock worth $177,281,000 after acquiring an additional 500,924 shares during the period. Wellington Management Group LLP grew its holdings in Protagonist Therapeutics by 66.2% during the fourth quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company's stock worth $276,992,000 after acquiring an additional 1,262,977 shares during the period. UBS Group AG boosted its position in shares of Protagonist Therapeutics by 46.1% during the 4th quarter. UBS Group AG now owns 2,770,021 shares of the company's stock worth $241,934,000 after purchasing an additional 874,013 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Protagonist Therapeutics by 140.7% during the 4th quarter. Janus Henderson Group PLC now owns 2,649,981 shares of the company's stock worth $231,355,000 after purchasing an additional 1,549,160 shares during the period. Institutional investors and hedge funds own 98.63% of the company's stock.

Analyst Ratings Changes

PTGX has been the subject of a number of research analyst reports. Truist Financial increased their price target on shares of Protagonist Therapeutics from $121.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Zacks Research raised Protagonist Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 8th. Johnson Rice set a $165.00 price target on Protagonist Therapeutics in a report on Friday, July 17th. Wolfe Research initiated coverage on Protagonist Therapeutics in a report on Thursday, May 21st. They set an "outperform" rating and a $135.00 price objective for the company. Finally, Wedbush boosted their target price on Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $123.00.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ PTGX opened at $135.43 on Friday. The firm's 50 day moving average price is $116.11 and its 200 day moving average price is $101.09. Protagonist Therapeutics, Inc. has a 1 year low of $50.49 and a 1 year high of $143.29. The firm has a market cap of $8.71 billion, a P/E ratio of -74.82 and a beta of 1.79.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.50) by $0.55. The company had revenue of $56.37 million during the quarter, compared to the consensus estimate of $11.70 million. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. As a group, equities analysts predict that Protagonist Therapeutics, Inc. will post 3.69 EPS for the current year.

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the transaction, the chief executive officer directly owned 523,478 shares of the company's stock, valued at $52,410,617.36. The trade was a 12.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bryan Giraudo sold 36,000 shares of the company's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $100.14, for a total transaction of $3,605,040.00. Following the sale, the director directly owned 27,825 shares of the company's stock, valued at approximately $2,786,395.50. This trade represents a 56.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 161,130 shares of company stock valued at $16,355,220 in the last three months. Corporate insiders own 5.19% of the company's stock.

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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