Cavalier Investments LLC Raises Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Cavalier Investments LLC lifted its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 4.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 31,252 shares of the company’s stock after purchasing an additional 1,296 shares during the quarter. Cavalier Investments LLC’s holdings in Protagonist Therapeutics were worth $1,206,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PTGX. Creative Planning purchased a new stake in shares of Protagonist Therapeutics during the 3rd quarter worth about $338,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Protagonist Therapeutics by 24,162.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 103,842 shares of the company’s stock worth $4,673,000 after purchasing an additional 103,414 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Protagonist Therapeutics during the 3rd quarter worth about $1,282,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Protagonist Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock worth $95,000 after purchasing an additional 379 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Protagonist Therapeutics during the 3rd quarter worth about $1,512,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Down 2.5 %

Shares of PTGX opened at $35.09 on Wednesday. The business’s 50 day moving average is $38.14 and its two-hundred day moving average is $41.89. Protagonist Therapeutics, Inc. has a 52-week low of $24.22 and a 52-week high of $48.89. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 13.19 and a beta of 2.22.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The company had revenue of $170.64 million for the quarter, compared to analyst estimates of $56.65 million. On average, equities analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PTGX shares. The Goldman Sachs Group reduced their price target on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday. Wedbush reissued an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 21st. HC Wainwright boosted their price target on Protagonist Therapeutics from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday. BMO Capital Markets started coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $62.00 price target on the stock. Finally, JMP Securities reissued a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 7th. 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.44.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the sale, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. This represents a 0.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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.