Freestone Grove Partners LP Takes Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Freestone Grove Partners LP acquired a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,644 shares of the company's stock, valued at approximately $256,000.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in shares of Protagonist Therapeutics by 8.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company's stock worth $72,432,000 after buying an additional 142,376 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Protagonist Therapeutics by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,392,652 shares of the company's stock valued at $53,758,000 after purchasing an additional 83,185 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Protagonist Therapeutics by 3,025.4% during the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company's stock worth $36,287,000 after acquiring an additional 909,998 shares during the last quarter. American Century Companies Inc. lifted its position in Protagonist Therapeutics by 61.5% during the 4th quarter. American Century Companies Inc. now owns 928,286 shares of the company's stock valued at $35,832,000 after purchasing an additional 353,511 shares during the period. Finally, Invesco Ltd. lifted its holdings in Protagonist Therapeutics by 13.1% in the fourth quarter. Invesco Ltd. now owns 738,952 shares of the company's stock valued at $28,524,000 after buying an additional 85,800 shares during the period. Institutional investors and hedge funds own 98.63% of the company's stock.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 4,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.25, for a total transaction of $217,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Asif Ali sold 24,903 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total value of $1,462,553.19. Following the completion of the sale, the chief financial officer now owns 62,821 shares of the company's stock, valued at approximately $3,689,477.33. The trade was a 28.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,532 shares of company stock valued at $3,665,786. 5.40% of the stock is currently owned by insiders.

Protagonist Therapeutics Trading Up 2.1 %

NASDAQ PTGX traded up $0.89 during trading on Thursday, reaching $43.98. The company's stock had a trading volume of 1,100,691 shares, compared to its average volume of 870,168. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 16.53 and a beta of 2.65. Protagonist Therapeutics, Inc. has a 12 month low of $26.79 and a 12 month high of $60.60. The firm has a 50 day moving average price of $46.76 and a 200 day moving average price of $42.77.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.31. The firm had revenue of $28.32 million for the quarter, compared to analyst estimates of $30.44 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. On average, equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price objective 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. JMP Securities restated a "market outperform" rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, February 7th. HC Wainwright reiterated a "buy" rating and set a $80.00 target price on shares of Protagonist Therapeutics in a report on Thursday, April 10th. JPMorgan Chase & Co. lifted their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Finally, Truist Financial lifted their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a report 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 stock. Based on data from MarketBeat, Protagonist Therapeutics has an average rating of "Moderate Buy" and an average price target of $65.44.

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.