Y Intercept Hong Kong Ltd Purchases Shares of 20,169 Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Key Points

• Y Intercept Hong Kong Ltd acquired 20,169 shares of Protagonist Therapeutics, Inc. for approximately $975,000 during the 1st quarter.
• Protagonist Therapeutics has received **increased interest from institutional investors**, with several funds, including Wellington Management, making substantial investments in the company during the 4th quarter.
• Analysts maintain a generally **positive outlook** on Protagonist Therapeutics, with a consensus target price of $66.10 and multiple ratings of "buy" or "outperform" from various research firms.

Y Intercept Hong Kong Ltd purchased a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,169 shares of the company's stock, valued at approximately $975,000.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in shares of Protagonist Therapeutics by 4.5% in the fourth quarter. Bank of Montreal Can now owns 6,250 shares of the company's stock worth $241,000 after acquiring an additional 270 shares during the period. GF Fund Management CO. LTD. raised its position in shares of Protagonist Therapeutics by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,526 shares of the company's stock worth $74,000 after purchasing an additional 275 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Protagonist Therapeutics by 153.3% during the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock worth $58,000 after purchasing an additional 728 shares during the last quarter. WINTON GROUP Ltd raised its position in shares of Protagonist Therapeutics by 3.0% during the 4th quarter. WINTON GROUP Ltd now owns 26,768 shares of the company's stock worth $1,033,000 after purchasing an additional 785 shares during the last quarter. Finally, State of Wyoming raised its position in shares of Protagonist Therapeutics by 11.9% during the 4th quarter. State of Wyoming now owns 7,832 shares of the company's stock worth $302,000 after purchasing an additional 832 shares during the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Stock Down 2.5%

Shares of Protagonist Therapeutics stock traded down $1.41 during mid-day trading on Tuesday, hitting $54.86. The stock had a trading volume of 170,273 shares, compared to its average volume of 965,700. The firm has a 50-day moving average of $52.52 and a two-hundred day moving average of $46.40. Protagonist Therapeutics, Inc. has a 12-month low of $32.50 and a 12-month high of $60.60. The firm has a market cap of $3.40 billion, a P/E ratio of 72.88 and a beta of 2.26.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.31. Protagonist Therapeutics had a net margin of 27.04% and a return on equity of 9.22%. The business had revenue of $28.32 million during the quarter, compared to analysts' expectations of $30.44 million. Sell-side analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PTGX has been the subject of several research analyst reports. HC Wainwright restated a "buy" rating and set a $80.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. Citigroup began coverage on shares of Protagonist Therapeutics in a report on Tuesday, June 17th. They issued a "buy" rating and a $72.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $66.10.

Insider Activity at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total transaction of $570,300.00. Following the completion of the transaction, the insider owned 83,892 shares of the company's stock, valued at approximately $4,784,360.76. This trade represents a 10.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $54.78, for a total transaction of $570,533.70. Following the transaction, the chief executive officer directly owned 520,603 shares of the company's stock, valued at $28,518,632.34. The trade was a 1.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 72,859 shares of company stock valued at $4,020,877. Corporate 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.