Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Position Increased by Perceptive Advisors LLC

Perceptive Advisors LLC grew its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 27.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,268,735 shares of the company’s stock after acquiring an additional 274,412 shares during the period. Protagonist Therapeutics accounts for approximately 1.0% of Perceptive Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Perceptive Advisors LLC’s holdings in Protagonist Therapeutics were worth $43,962,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PTGX. Kynam Capital Management LP raised its position in Protagonist Therapeutics by 10.2% during the fourth quarter. Kynam Capital Management LP now owns 2,004,875 shares of the company’s stock valued at $45,972,000 after acquiring an additional 186,218 shares in the last quarter. Superstring Capital Management LP bought a new position in shares of Protagonist Therapeutics during the 4th quarter valued at $8,694,000. ADAR1 Capital Management LLC bought a new position in shares of Protagonist Therapeutics during the 4th quarter valued at $4,606,000. Birchview Capital LP lifted its stake in shares of Protagonist Therapeutics by 26.3% in the 4th quarter. Birchview Capital LP now owns 48,000 shares of the company’s stock valued at $1,101,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Opaleye Management Inc. bought a new stake in Protagonist Therapeutics in the fourth quarter worth $2,584,000. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $44.56 on Monday. The stock has a 50-day simple moving average of $41.76 and a 200 day simple moving average of $34.29. Protagonist Therapeutics, Inc. has a twelve month low of $13.72 and a twelve month high of $48.00. The stock has a market capitalization of $2.62 billion, a PE ratio of 18.26 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). The business had revenue of $4.17 million for the quarter, compared to analyst estimates of $40.00 million. As a group, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on PTGX. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. boosted their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. JMP Securities lowered their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 7th. Finally, BTIG Research lifted their price target 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. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $49.86.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total value of $320,000.00. Following the completion of the sale, 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 available through the SEC website. In other news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction dated 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 SEC, which is accessible through the SEC website. Also, CFO Asif Ali sold 14,203 shares of the stock in a transaction dated 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 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. Over the last quarter, insiders have sold 30,203 shares of company stock valued at $1,311,891. 5.40% of the stock is owned by company insiders.

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.