Woodline Partners LP Purchases 315,372 Shares of Protagonist Therapeutics, Inc. $PTGX

Key Points

• Woodline Partners LP increased its holdings in Protagonist Therapeutics by 54.2%, acquiring an additional 315,372 shares for a total of 897,699 shares valued at approximately $43.4 million.
• Protagonist Therapeutics' stock is currently valued at $56.19, having experienced a 7.2% decline recently, with a market capitalization of $3.50 billion.
• Wall Street analysts have given Protagonist Therapeutics an average rating of Buy, with a price target of $67.20, while the company reported a quarterly loss of ($0.55) earnings per share.

Woodline Partners LP lifted its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 54.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 897,699 shares of the company's stock after buying an additional 315,372 shares during the period. Woodline Partners LP owned about 1.45% of Protagonist Therapeutics worth $43,413,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. 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 worth $212,244,000 after acquiring an additional 72,433 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Protagonist Therapeutics by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 4,277,218 shares of the company's stock worth $206,846,000 after purchasing an additional 57,181 shares in the last quarter. BVF Inc. IL raised its stake in shares of Protagonist Therapeutics by 35.5% in the first quarter. BVF Inc. IL now owns 2,575,015 shares of the company's stock worth $124,528,000 after purchasing an additional 675,000 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Protagonist Therapeutics by 5.0% during the first quarter. Wellington Management Group LLP now owns 987,370 shares of the company's stock valued at $47,749,000 after purchasing an additional 47,293 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Protagonist Therapeutics by 16.3% during the first quarter. Invesco Ltd. now owns 859,648 shares of the company's stock valued at $41,573,000 after purchasing an additional 120,696 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PTGX. Citigroup reiterated an "outperform" rating on shares of Protagonist Therapeutics in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. JMP Securities boosted their price objective on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the company a "market outperform" rating in a report on Thursday, August 7th. Finally, HC Wainwright restated a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $67.20.

Protagonist Therapeutics Stock Down 7.2%

NASDAQ PTGX opened at $56.19 on Tuesday. The company has a 50-day moving average price of $55.07 and a 200-day moving average price of $50.24. Protagonist Therapeutics, Inc. has a 52 week low of $33.31 and a 52 week high of $61.89. The firm has a market capitalization of $3.50 billion, a P/E ratio of 80.27 and a beta of 2.22.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. The business had revenue of $5.55 million for the quarter, compared to the consensus estimate of $8.32 million. As a group, equities research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Insiders Place Their Bets

In other news, Director William D. Waddill sold 4,000 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $59.25, for a total value of $237,000.00. Following the completion of the sale, the director directly owned 9,130 shares in the company, valued at $540,952.50. This represents a 30.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $54.78, for a total value of $570,533.70. Following the completion of the transaction, the chief executive officer directly owned 520,603 shares in the company, valued at approximately $28,518,632.34. This represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,859 shares of company stock valued at $3,687,577. 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.

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