Soleus Capital Management L.P. Takes $10.62 Million Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Soleus Capital Management L.P. purchased a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 275,000 shares of the company's stock, valued at approximately $10,615,000. Soleus Capital Management L.P. owned about 0.46% of Protagonist Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Farallon Capital Management LLC raised its holdings in Protagonist Therapeutics by 1.2% in the 4th quarter. Farallon Capital Management LLC now owns 5,930,006 shares of the company's stock valued at $228,898,000 after acquiring an additional 69,000 shares in the last quarter. RTW Investments LP raised its holdings in Protagonist Therapeutics by 1.3% in the 4th quarter. RTW Investments LP now owns 5,498,545 shares of the company's stock valued at $212,244,000 after acquiring an additional 72,433 shares in the last quarter. BVF Inc. IL raised its holdings in Protagonist Therapeutics by 2.7% in the 4th quarter. BVF Inc. IL now owns 1,900,015 shares of the company's stock valued at $73,341,000 after acquiring an additional 49,848 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Protagonist Therapeutics by 8.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company's stock valued at $72,432,000 after acquiring an additional 142,376 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Protagonist Therapeutics by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,392,652 shares of the company's stock valued at $53,758,000 after acquiring an additional 83,185 shares in the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on PTGX shares. JMP Securities reaffirmed a "market outperform" rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 7th. The Goldman Sachs Group dropped their price objective on Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Monday, February 24th. JPMorgan Chase & Co. lifted their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Truist Financial lifted their price target on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Finally, BMO Capital Markets lifted their price target on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $65.44.

Protagonist Therapeutics Price Performance

PTGX stock traded down $0.79 during midday trading on Wednesday, reaching $45.82. 832,191 shares of the stock were exchanged, compared to its average volume of 879,034. The stock has a market capitalization of $2.84 billion, a PE ratio of 17.23 and a beta of 2.65. Protagonist Therapeutics, Inc. has a 52 week low of $27.00 and a 52 week high of $60.60. The company has a fifty day moving average price of $46.18 and a 200 day moving average price of $42.61.

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. The business had revenue of $28.32 million for the quarter, compared to analyst estimates of $30.44 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. As a group, analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 30,514 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $55.74, for a total value of $1,700,850.36. Following the sale, the insider now owns 83,892 shares in the company, valued at approximately $4,676,140.08. The trade was a 26.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Asif Ali sold 1,756 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total value of $80,776.00. Following the completion of the sale, the chief financial officer now owns 61,065 shares in the company, valued at $2,808,990. This trade represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,173 shares of company stock worth $3,461,180 in the last 90 days. Insiders own 4.90% of the company's stock.

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.