Diadema Partners LP Buys New Holdings in Protagonist Therapeutics, Inc. $PTGX

Diadema Partners LP bought a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the second quarter, Holdings Channel.com reports. The fund bought 76,185 shares of the company’s stock, valued at approximately $4,211,000. Protagonist Therapeutics comprises 1.3% of Diadema Partners LP’s holdings, making the stock its 19th largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Velan Capital Investment Management LP purchased a new stake in Protagonist Therapeutics during the 2nd quarter worth approximately $204,000. State Street Corp raised its holdings in shares of Protagonist Therapeutics by 18.5% during the 2nd quarter. State Street Corp now owns 3,207,543 shares of the company’s stock worth $177,281,000 after acquiring an additional 500,924 shares during the period. Natixis purchased a new position in Protagonist Therapeutics during the second quarter worth about $2,324,000. Cerity Partners LLC boosted its holdings in Protagonist Therapeutics by 5.2% in the 2nd quarter. Cerity Partners LLC now owns 9,722 shares of the company’s stock valued at $537,000 after purchasing an additional 477 shares during the last quarter. Finally, Bosun Asset Management LLC acquired a new position in Protagonist Therapeutics in the 2nd quarter valued at about $565,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Price Performance

NASDAQ:PTGX opened at $88.56 on Wednesday. Protagonist Therapeutics, Inc. has a 1-year low of $33.70 and a 1-year high of $93.25. The firm’s fifty day moving average price is $79.71 and its 200 day moving average price is $64.13. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 142.84 and a beta of 2.19.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Thursday, November 6th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). The business had revenue of $4.71 million during the quarter, compared to analyst estimates of $5.41 million. Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. As a group, analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William D. Waddill sold 12,000 shares of the business’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $81.62, for a total value of $979,440.00. Following the completion of the transaction, the director owned 5,130 shares of the company’s stock, valued at approximately $418,710.60. The trade was a 70.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Leerink Partners began coverage on Protagonist Therapeutics in a report on Friday, September 12th. They set an “outperform” rating and a $73.00 price target for the company. BTIG Research restated a “buy” rating and issued a $82.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, October 28th. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, October 8th. Truist Financial increased their target price on Protagonist Therapeutics from $76.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.54.

Protagonist Therapeutics Company Profile

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.