Elmind Capital LP Takes Position in Protagonist Therapeutics, Inc. $PTGX

Elmind Capital LP acquired a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the second quarter, HoldingsChannel reports. The fund acquired 38,000 shares of the company’s stock, valued at approximately $4,658,040,000. Protagonist Therapeutics makes up approximately 1.2% of Elmind Capital LP’s investment portfolio, making the stock its 21st biggest holding.

A number of other hedge funds also recently bought and sold shares of the company. Johnson & Johnson bought a new stake in shares of Protagonist Therapeutics in the 2nd quarter worth approximately $300,220,852,000. NEXTBio Capital Management LP bought a new position in shares of Protagonist Therapeutics during the 4th quarter valued at $20,055,000. Jennison Associates LLC bought a new position in shares of Protagonist Therapeutics during the 4th quarter valued at $28,924,000. Deutsche Bank AG purchased a new position in Protagonist Therapeutics in the 2nd quarter worth $17,387,000. Finally, Stempoint Capital LP lifted its stake in Protagonist Therapeutics by 22.1% in the first quarter. Stempoint Capital LP now owns 72,577 shares of the company’s stock worth $7,650,000 after purchasing an additional 13,147 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

Insider Buying and Selling

In related news, Director William D. Waddill sold 9,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total value of $1,061,460.00. Following the completion of the sale, the director owned 7,825 shares of the company’s stock, valued at $922,880.50. This trade represents a 53.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 65,761 shares of Protagonist Therapeutics stock in a transaction on Monday, August 10th. The shares were sold at an average price of $149.11, for a total transaction of $9,805,622.71. Following the completion of the sale, the chief executive officer owned 523,478 shares in the company, valued at approximately $78,055,804.58. This trade represents a 11.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 127,000 shares of company stock valued at $17,818,139. 5.19% of the stock is owned by corporate insiders.

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX opened at $150.59 on Wednesday. The stock’s 50-day moving average is $136.34 and its 200 day moving average is $111.31. The company has a market cap of $9.74 billion, a PE ratio of 146.21 and a beta of 1.78. Protagonist Therapeutics, Inc. has a 1 year low of $54.50 and a 1 year high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.02. The business had revenue of $213.47 million during the quarter, compared to analysts’ expectations of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The business’s revenue for the quarter was up 3746.8% on a year-over-year basis. Analysts expect that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PTGX shares. Citizens Jmp raised their price objective on Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. Zacks Research cut Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Johnson Rice set a $165.00 price target on Protagonist Therapeutics in a research note on Friday, July 17th. Weiss Ratings raised Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Finally, Truist Financial raised their target price on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $140.53.

Protagonist Therapeutics Company Profile

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.