Woodline Partners LP Boosts Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Woodline Partners LP boosted its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 24.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 582,327 shares of the company's stock after acquiring an additional 115,809 shares during the period. Woodline Partners LP owned about 0.98% of Protagonist Therapeutics worth $22,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Covestor Ltd raised its position in shares of Protagonist Therapeutics by 5,200.0% during the 4th quarter. Covestor Ltd now owns 1,643 shares of the company's stock worth $63,000 after purchasing an additional 1,612 shares during the last quarter. KBC Group NV increased its position in Protagonist Therapeutics by 54.4% during the fourth quarter. KBC Group NV now owns 2,093 shares of the company's stock worth $81,000 after buying an additional 737 shares in the last quarter. New Vernon Capital Holdings II LLC acquired a new position in shares of Protagonist Therapeutics in the fourth quarter worth $118,000. Nisa Investment Advisors LLC raised its holdings in shares of Protagonist Therapeutics by 10.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company's stock worth $121,000 after acquiring an additional 295 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of Protagonist Therapeutics in the fourth quarter valued at $211,000. Hedge funds and other institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $46.61 on Wednesday. Protagonist Therapeutics, Inc. has a 1 year low of $27.00 and a 1 year high of $60.60. The firm has a 50 day moving average price of $46.36 and a 200 day moving average price of $42.59. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 17.52 and a beta of 2.65.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.50) by $0.31. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The company had revenue of $28.32 million for the quarter, compared to analyst estimates of $30.44 million. Sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JMP Securities reiterated a "market outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, February 7th. The Goldman Sachs Group decreased their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Truist Financial boosted their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. BMO Capital Markets raised their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research note on Monday. 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $65.44.

Insider Buying and Selling

In related news, CFO Asif Ali sold 1,756 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 61,065 shares of the company's stock, valued at approximately $2,808,990. This represents a 2.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Waddill sold 4,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $54.25, for a total transaction of $217,000.00. Following the transaction, the director now directly owns 13,130 shares in the company, valued at approximately $712,302.50. This trade represents a 23.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,173 shares of company stock valued at $3,461,180. 4.90% of the stock is currently owned by company insiders.

Protagonist Therapeutics Profile

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.

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