Commodore Capital LP Cuts Position in Protagonist Therapeutics, Inc. $PTGX

Commodore Capital LP lessened its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 56.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 450,000 shares of the company’s stock after selling 575,000 shares during the period. Protagonist Therapeutics makes up approximately 2.6% of Commodore Capital LP’s portfolio, making the stock its 17th biggest holding. Commodore Capital LP’s holdings in Protagonist Therapeutics were worth $39,303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in shares of Protagonist Therapeutics by 110.6% in the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after buying an additional 156 shares during the last quarter. Greenline Wealth Management LLC bought a new stake in shares of Protagonist Therapeutics in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC raised its holdings in shares of Protagonist Therapeutics by 138.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $36,000 after purchasing an additional 314 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Protagonist Therapeutics by 222.4% in the 4th quarter. Hantz Financial Services Inc. now owns 951 shares of the company’s stock worth $83,000 after purchasing an additional 656 shares during the period. Finally, Canton Hathaway LLC bought a new stake in shares of Protagonist Therapeutics in the 4th quarter worth approximately $87,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Insider Transactions at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the completion of the transaction, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at $52,410,617.36. This trade represents a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harold E. Selick sold 24,000 shares of the firm’s stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $105.00, for a total value of $2,520,000.00. Following the completion of the transaction, the director directly owned 60,845 shares of the company’s stock, valued at $6,388,725. The trade was a 28.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 272,345 shares of company stock valued at $27,676,386. 5.19% of the stock is currently owned by company insiders.

Protagonist Therapeutics Price Performance

NASDAQ:PTGX opened at $111.44 on Thursday. Protagonist Therapeutics, Inc. has a 1 year low of $49.38 and a 1 year high of $113.66. The stock’s fifty day moving average price is $102.19 and its two-hundred day moving average price is $93.72. The company has a market cap of $7.17 billion, a P/E ratio of -61.57 and a beta of 1.85.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.55. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The firm had revenue of $56.37 million during the quarter, compared to analyst estimates of $11.70 million. On average, analysts expect that Protagonist Therapeutics, Inc. will post 2.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PTGX shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. Johnson Rice reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $95.00 to $106.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Barclays lifted their price target on shares of Protagonist Therapeutics from $113.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Finally, Wall Street Zen raised shares of Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $115.21.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.