Woodline Partners LP Increases Position in Protagonist Therapeutics, Inc. $PTGX

Woodline Partners LP raised its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 54.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 897,699 shares of the company’s stock after acquiring an additional 315,372 shares during the quarter. Woodline Partners LP’s holdings in Protagonist Therapeutics were worth $43,413,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PTGX. GF Fund Management CO. LTD. grew its position in shares of Protagonist Therapeutics by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 1,526 shares of the company’s stock valued at $74,000 after purchasing an additional 275 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Protagonist Therapeutics by 4.1% during the first quarter. Hsbc Holdings PLC now owns 8,458 shares of the company’s stock valued at $405,000 after buying an additional 330 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Protagonist Therapeutics by 0.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after buying an additional 348 shares during the last quarter. Covestor Ltd grew its holdings in Protagonist Therapeutics by 27.0% during the 1st quarter. Covestor Ltd now owns 2,087 shares of the company’s stock valued at $101,000 after buying an additional 444 shares in the last quarter. Finally, AlphaQuest LLC increased its stake in Protagonist Therapeutics by 24.2% in the 1st quarter. AlphaQuest LLC now owns 2,704 shares of the company’s stock worth $131,000 after acquiring an additional 527 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

Insider Activity

In other Protagonist Therapeutics news, Director William D. Waddill sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $59.25, for a total transaction of $237,000.00. Following the completion of the transaction, the director owned 9,130 shares in the company, valued at $540,952.50. The trade was a 30.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $55.05, for a total value of $1,214,678.25. Following the transaction, the chief executive officer directly owned 548,538 shares in the company, valued at approximately $30,197,016.90. This represents a 3.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,859 shares of company stock worth $3,687,577 over the last quarter. 4.90% of the stock is currently owned by insiders.

Protagonist Therapeutics Stock Down 7.2%

Shares of PTGX opened at $56.19 on Tuesday. The company has a market cap of $3.50 billion, a PE ratio of 80.27 and a beta of 2.22. The business has a fifty day moving average of $55.07 and a 200 day moving average of $50.24. Protagonist Therapeutics, Inc. has a 52-week low of $33.31 and a 52-week high of $61.89.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. The firm had revenue of $5.55 million for the quarter, compared to the consensus estimate of $8.32 million. As a group, research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PTGX has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. Wall Street Zen raised shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 8th. JMP Securities lifted their price objective on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Finally, Citigroup restated an “outperform” rating on shares of Protagonist Therapeutics in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $67.20.

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.