Point72 Asia Singapore Pte. Ltd. Invests $504,000 in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,556 shares of the company’s stock, valued at approximately $504,000.

Several other large investors also recently made changes to their positions in PTGX. Squarepoint Ops LLC acquired a new position in shares of Protagonist Therapeutics during the second quarter valued at $340,000. Cubist Systematic Strategies LLC lifted its stake in shares of Protagonist Therapeutics by 1,304.5% during the second quarter. Cubist Systematic Strategies LLC now owns 84,202 shares of the company’s stock valued at $2,918,000 after acquiring an additional 78,207 shares during the period. Point72 DIFC Ltd acquired a new position in Protagonist Therapeutics in the second quarter valued at about $153,000. Farallon Capital Management LLC lifted its stake in Protagonist Therapeutics by 1.8% in the second quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock valued at $202,383,000 after buying an additional 101,800 shares during the period. Finally, Seven Eight Capital LP increased its holdings in shares of Protagonist Therapeutics by 426.9% in the second quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock worth $1,275,000 after acquiring an additional 29,810 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

Insider Activity

In related news, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the transaction, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $540,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the transaction, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The disclosure for this sale can be found here. Insiders have sold 30,203 shares of company stock valued at $1,311,891 in the last ninety days. 5.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PTGX. TD Cowen began coverage on Protagonist Therapeutics in a report on Tuesday. They issued a “buy” rating and a $65.00 price target for the company. BTIG Research raised their price target on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JMP Securities cut their price objective on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 7th. HC Wainwright raised their price objective on Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. raised their price objective on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Protagonist Therapeutics presently has an average rating of “Buy” and a consensus price target of $49.86.

Protagonist Therapeutics Stock Down 0.9 %

Shares of PTGX stock opened at $46.14 on Thursday. The firm has a market capitalization of $2.72 billion, a P/E ratio of 18.91 and a beta of 2.17. Protagonist Therapeutics, Inc. has a twelve month low of $13.72 and a twelve month high of $48.00. The stock’s fifty day simple moving average is $41.40 and its 200 day simple moving average is $34.05.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its 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. As a group, equities research analysts expect that Protagonist Therapeutics, Inc. will post 2.31 EPS for the current fiscal year.

Protagonist Therapeutics Company 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.