Weiss Asset Management LP Invests $1.03 Million in Protagonist Therapeutics, Inc. $PTGX

Weiss Asset Management LP acquired a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,780 shares of the company’s stock, valued at approximately $1,031,000.

Several other institutional investors have also added to or reduced their stakes in PTGX. Farther Finance Advisors LLC increased its position in Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after purchasing an additional 156 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Protagonist Therapeutics by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,393 shares of the company’s stock worth $1,170,000 after purchasing an additional 193 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Protagonist Therapeutics by 2.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 8,603 shares of the company’s stock worth $751,000 after purchasing an additional 196 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Protagonist Therapeutics by 7.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,760 shares of the company’s stock worth $291,000 after purchasing an additional 200 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Protagonist Therapeutics by 8.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,959 shares of the company’s stock valued at $258,000 after purchasing an additional 221 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Bryan Giraudo sold 6,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $100.00, for a total transaction of $600,000.00. Following the transaction, the director owned 31,825 shares of the company’s stock, valued at $3,182,500. This represents a 15.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the transaction, the chief executive officer directly owned 523,478 shares in the company, valued at $52,410,617.36. This trade represents a 12.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 161,130 shares of company stock worth $16,355,220. 5.19% of the stock is currently owned by company insiders.

Protagonist Therapeutics Stock Down 0.4%

Shares of PTGX stock opened at $135.56 on Tuesday. The company has a market cap of $8.72 billion, a price-to-earnings ratio of -74.90 and a beta of 1.79. Protagonist Therapeutics, Inc. has a 52 week low of $50.49 and a 52 week high of $143.29. The firm has a 50 day moving average of $117.49 and a 200-day moving average of $101.83.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. The company had revenue of $56.37 million during the quarter, compared to analyst estimates of $11.70 million. Analysts anticipate that Protagonist Therapeutics, Inc. will post 3.69 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PTGX shares. TD Cowen reiterated a “buy” rating on shares of Protagonist Therapeutics in a research report on Wednesday, July 1st. Weiss Ratings restated a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. Wall Street Zen upgraded Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday. Wedbush lifted their price objective on Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, Citizens Jmp boosted 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. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Protagonist Therapeutics 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 α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.