Quantedge Capital Pte Ltd Has $1.44 Million Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Quantedge Capital Pte Ltd increased its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 12.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,200 shares of the company’s stock after buying an additional 4,217 shares during the period. Quantedge Capital Pte Ltd owned 0.06% of Protagonist Therapeutics worth $1,436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in Protagonist Therapeutics during the 4th quarter worth about $38,000. Covestor Ltd lifted its position in Protagonist Therapeutics by 5,200.0% during the 4th quarter. Covestor Ltd now owns 1,643 shares of the company’s stock worth $63,000 after buying an additional 1,612 shares in the last quarter. KBC Group NV lifted its position in Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after buying an additional 737 shares in the last quarter. New Vernon Capital Holdings II LLC acquired a new position in Protagonist Therapeutics during the 4th quarter worth about $118,000. Finally, Nisa Investment Advisors LLC lifted its position in Protagonist Therapeutics by 10.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock worth $121,000 after buying an additional 295 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PTGX. BMO Capital Markets upped their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Wedbush restated an “outperform” rating and set a $70.00 target price on shares of Protagonist Therapeutics in a research report on Friday, March 28th. JMP Securities restated a “market outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. JPMorgan Chase & Co. upped their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Finally, BTIG Research set a $73.00 price target on Protagonist Therapeutics in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.44.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $43.77 on Thursday. The business has a 50 day simple moving average of $47.30 and a 200 day simple moving average of $42.68. Protagonist Therapeutics, Inc. has a 52-week low of $27.00 and a 52-week high of $60.60. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 16.45 and a beta of 2.65.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.31. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $28.32 million during the quarter, compared to analysts’ expectations of $30.44 million. On average, analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Insider Transactions at Protagonist Therapeutics

In other news, CFO Asif Ali sold 1,756 shares of the firm’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total transaction of $80,776.00. Following the completion of the transaction, the chief financial officer now directly owns 61,065 shares of the company’s stock, valued at $2,808,990. This trade represents a 2.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the sale, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. The trade was a 0.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,532 shares of company stock valued at $3,665,786 in the last ninety days. 5.40% of the stock is currently owned by corporate insiders.

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.