Seven Eight Capital LP Has $1.28 Million Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Seven Eight Capital LP grew its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 426.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,793 shares of the company’s stock after buying an additional 29,810 shares during the quarter. Seven Eight Capital LP owned approximately 0.06% of Protagonist Therapeutics worth $1,275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of Protagonist Therapeutics in the 1st quarter valued at approximately $35,000. Lazard Asset Management LLC acquired a new stake in Protagonist Therapeutics during the 1st quarter valued at $69,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Protagonist Therapeutics by 74.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock valued at $263,000 after purchasing an additional 3,870 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Protagonist Therapeutics by 67.7% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,192 shares of the company’s stock worth $324,000 after buying an additional 4,517 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Protagonist Therapeutics during the second quarter valued at $379,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX opened at $45.92 on Friday. The company has a market capitalization of $2.69 billion, a P/E ratio of 18.82 and a beta of 2.17. The stock’s 50 day moving average price is $40.61 and its 200 day moving average price is $33.60. Protagonist Therapeutics, Inc. has a 52 week low of $13.72 and a 52 week high of $48.00.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50). The business had revenue of $4.17 million for the quarter, compared to the consensus estimate of $40.00 million. As a group, sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 2.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PTGX shares. BTIG Research increased their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. JMP Securities lowered their price objective on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, HC Wainwright boosted their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $47.33.

Insider Buying and Selling at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now owns 12,000 shares in the company, valued at approximately $540,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, 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 value of $631,891.47. Following the transaction, the chief financial officer now owns 34,960 shares in the company, valued at approximately $1,555,370.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $540,000. The disclosure for this sale can be found here. Insiders have sold a total of 30,203 shares of company stock worth $1,311,891 over the last three months. Corporate insiders own 5.40% of the company’s stock.

Protagonist Therapeutics 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.