GAMMA Investing LLC Raises Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

GAMMA Investing LLC raised its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 12,147.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,177 shares of the company’s stock after purchasing an additional 57,702 shares during the quarter. GAMMA Investing LLC owned 0.09% of Protagonist Therapeutics worth $2,813,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Protagonist Therapeutics by 3,025.4% in the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock worth $36,287,000 after purchasing an additional 909,998 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Protagonist Therapeutics by 174.6% in the fourth quarter. Mackenzie Financial Corp now owns 21,349 shares of the company’s stock valued at $824,000 after acquiring an additional 13,575 shares in the last quarter. Toronto Dominion Bank bought a new position in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $13,162,000. Cache Advisors LLC bought a new position in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $392,000. Finally, GF Fund Management CO. LTD. bought a new position in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $48,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Price Performance

Protagonist Therapeutics stock opened at $56.32 on Friday. Protagonist Therapeutics, Inc. has a one year low of $30.67 and a one year high of $60.60. The business has a fifty day moving average price of $46.43 and a 200-day moving average price of $43.35. The firm has a market capitalization of $3.49 billion, a P/E ratio of 21.17 and a beta of 2.25.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) 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 firm had revenue of $28.32 million during the quarter, compared to analyst estimates of $30.44 million. Sell-side analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In other news, CFO Asif Ali sold 1,756 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total value 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 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, insider Arturo Md Molina sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $57.03, for a total value of $570,300.00. Following the completion of the transaction, the insider now directly owns 83,892 shares of the company’s stock, valued at $4,784,360.76. The trade was a 10.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,756 shares of company stock valued at $868,076 over the last three months. Company insiders own 4.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PTGX has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Wall Street Zen raised Protagonist Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, June 8th. BTIG Research set a $73.00 target price on Protagonist Therapeutics in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Finally, BMO Capital Markets increased their price objective on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $65.44.

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.