Weiss Asset Management LP Takes $1.03 Million Position in Protagonist Therapeutics, Inc. $PTGX

Weiss Asset Management LP purchased a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,780 shares of the company's stock, valued at approximately $1,031,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Farther Finance Advisors LLC boosted its stake in Protagonist Therapeutics by 110.6% in the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock valued at $26,000 after buying an additional 156 shares in the last quarter. Greenline Wealth Management LLC acquired a new position in Protagonist Therapeutics during the fourth quarter worth about $27,000. Osaic Holdings Inc. lifted its holdings in shares of Protagonist Therapeutics by 79.5% in the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company's stock worth $65,000 after acquiring an additional 525 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Protagonist Therapeutics by 222.4% in the fourth quarter. Hantz Financial Services Inc. now owns 951 shares of the company's stock worth $83,000 after acquiring an additional 656 shares during the last quarter. Finally, Canton Hathaway LLC acquired a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at approximately $87,000. 98.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PTGX. Barclays lifted their price target on shares of Protagonist Therapeutics from $119.00 to $151.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Weiss Ratings restated a "sell (d+)" rating on shares of Protagonist Therapeutics in a research report on Friday, May 15th. Johnson Rice set a $165.00 target price on shares of Protagonist Therapeutics in a research report on Friday, July 17th. Wolfe Research started coverage on shares of Protagonist Therapeutics in a research note on Thursday, May 21st. They set an "outperform" rating and a $135.00 target price on the stock. Finally, Citizens Jmp upped their price target on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a "market outperform" rating in a report on Wednesday, May 6th. Two equities research analysts have 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $123.00.

Protagonist Therapeutics Trading Down 0.4%

NASDAQ:PTGX opened at $135.56 on Tuesday. The stock's 50-day moving average is $117.49 and its 200-day moving average is $101.83. Protagonist Therapeutics, Inc. has a 1-year low of $50.49 and a 1-year high of $143.29. The stock has a market cap of $8.72 billion, a P/E ratio of -74.90 and a beta of 1.79.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued 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 net margin of 154.88% and a negative return on equity of 17.76%. The business had revenue of $56.37 million during the quarter, compared to analyst estimates of $11.70 million. As a group, equities analysts forecast that Protagonist Therapeutics, Inc. will post 3.69 EPS for the current year.

Insider Buying and Selling at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the transaction, the chief executive officer owned 523,478 shares in the company, valued at approximately $52,410,617.36. The trade was a 12.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bryan Giraudo sold 36,000 shares of the business'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 completion of the sale, the director directly owned 27,825 shares in the company, valued at approximately $2,786,395.50. This represents a 56.40% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 161,130 shares of company stock worth $16,355,220. 5.19% of the stock is currently owned by company insiders.

About Protagonist Therapeutics

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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