Dark Forest Capital Management LP Makes New $2.11 Million Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Dark Forest Capital Management LP purchased a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 60,962 shares of the company’s stock, valued at approximately $2,112,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in Protagonist Therapeutics during the 1st quarter valued at about $35,000. Lazard Asset Management LLC bought a new position in shares of Protagonist Therapeutics in the first quarter valued at approximately $69,000. Point72 DIFC Ltd acquired a new position in shares of Protagonist Therapeutics during the second quarter valued at approximately $153,000. Seven Eight Capital LP bought a new stake in Protagonist Therapeutics during the first quarter worth approximately $202,000. Finally, CANADA LIFE ASSURANCE Co lifted its position in Protagonist Therapeutics by 74.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after purchasing an additional 3,870 shares during the period. 98.63% of the stock is currently owned by institutional investors.

Protagonist Therapeutics Trading Down 0.9 %

Shares of Protagonist Therapeutics stock opened at $46.14 on Thursday. Protagonist Therapeutics, Inc. has a 1 year low of $13.72 and a 1 year high of $48.00. The stock has a 50-day moving average price of $41.40 and a 200 day moving average price of $34.05. The company has a market cap of $2.72 billion, a P/E ratio of 18.91 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). The company had revenue of $4.17 million for the quarter, compared to analyst estimates of $40.00 million. On average, equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PTGX has been the topic of several research analyst reports. HC Wainwright lifted their price target on Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday. BTIG Research raised their price objective on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, JMP Securities cut their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $49.86.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total value of $320,000.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $480,000. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total transaction of $320,000.00. Following the transaction, the director now owns 12,000 shares in the company, valued at approximately $480,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the sale, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. The disclosure for this sale can be found here. Insiders sold 30,203 shares of company stock valued at $1,311,891 in the last quarter. Company insiders own 5.40% 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.